Coca-Cola Consolidated (NASDAQ:COKE) Shares Cross Above 200 Day Moving Average – Should You Sell?

Shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $1,298.29 and traded as high as $1,406.62. Coca-Cola Consolidated shares last traded at $1,390.94, with a volume of 57,763 shares trading hands.

Wall Street Analyst Weigh In

Separately, StockNews.com cut shares of Coca-Cola Consolidated from a “strong-buy” rating to a “buy” rating in a report on Wednesday, March 19th.

Coca-Cola Consolidated Price Performance

The company has a market capitalization of $11.39 billion, a PE ratio of 18.70 and a beta of 0.88. The stock has a 50 day moving average price of $1,358.37 and a two-hundred day moving average price of $1,298.47. The company has a debt-to-equity ratio of 1.39, a quick ratio of 2.15 and a current ratio of 2.47.

Shares of Coca-Cola Consolidated are set to split before the market opens on Tuesday, May 27th. The 10-1 split was announced on Tuesday, March 4th. The newly issued shares will be distributed to shareholders after the closing bell on Friday, May 23rd.

Coca-Cola Consolidated (NASDAQ:COKE) last issued its quarterly earnings data on Thursday, February 20th. The company reported $18.11 earnings per share for the quarter. The business had revenue of $1.75 billion for the quarter. Coca-Cola Consolidated had a return on equity of 49.88% and a net margin of 9.18%.

Coca-Cola Consolidated Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Friday, January 24th were given a $2.50 dividend. This represents a $10.00 annualized dividend and a dividend yield of 0.77%. The ex-dividend date of this dividend was Friday, January 24th. Coca-Cola Consolidated’s dividend payout ratio is currently 14.32%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Proficio Capital Partners LLC increased its stake in Coca-Cola Consolidated by 197,133.5% during the fourth quarter. Proficio Capital Partners LLC now owns 453,637 shares of the company’s stock valued at $571,578,000 after acquiring an additional 453,407 shares during the period. Norges Bank bought a new stake in shares of Coca-Cola Consolidated during the fourth quarter valued at approximately $284,418,000. Estuary Capital Management LP bought a new stake in shares of Coca-Cola Consolidated during the fourth quarter valued at approximately $42,845,000. Invesco Ltd. raised its stake in shares of Coca-Cola Consolidated by 33.3% in the fourth quarter. Invesco Ltd. now owns 125,003 shares of the company’s stock valued at $157,503,000 after purchasing an additional 31,195 shares in the last quarter. Finally, State Street Corp lifted its position in Coca-Cola Consolidated by 18.4% in the third quarter. State Street Corp now owns 172,409 shares of the company’s stock worth $226,959,000 after purchasing an additional 26,752 shares during the period. 48.24% of the stock is currently owned by institutional investors and hedge funds.

About Coca-Cola Consolidated

Coca-Cola Consolidated, Inc, together with its subsidiaries, manufactures, markets, and distributes nonalcoholic beverages primarily products of The Coca-Cola Company in the United States. The company offers sparkling beverages; and still beverages, including energy products, as well as noncarbonated beverages comprising bottled water, ready to drink coffee and tea, enhanced water, juices, and sports drinks.