Coca-Cola Consolidated (NASDAQ:COKE) Announces Quarterly Earnings Results

Coca-Cola Consolidated (NASDAQ:COKE) posted its quarterly earnings data on Wednesday. The company reported $2.11 earnings per share for the quarter, Zacks reports. Coca-Cola Consolidated had a net margin of 8.66% and a return on equity of 43.17%.

Coca-Cola Consolidated Trading Up 2.5%

Shares of Coca-Cola Consolidated stock traded up $4.19 during mid-day trading on Wednesday, hitting $170.29. The stock had a trading volume of 443,807 shares, compared to its average volume of 418,428. The firm has a market cap of $14.55 billion, a P/E ratio of 24.24 and a beta of 0.64. The company has a quick ratio of 1.79, a current ratio of 2.04 and a debt-to-equity ratio of 0.88. The firm has a 50-day moving average of $156.03 and a two-hundred day moving average of $139.67. Coca-Cola Consolidated has a 12-month low of $105.21 and a 12-month high of $170.72.

Coca-Cola Consolidated Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 6th. Shareholders of record on Friday, January 23rd were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.6%. The ex-dividend date was Friday, January 23rd. Coca-Cola Consolidated’s payout ratio is presently 14.25%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “buy (b)” rating on shares of Coca-Cola Consolidated in a research note on Monday, December 29th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Coca-Cola Consolidated has a consensus rating of “Buy”.

Institutional Investors Weigh In On Coca-Cola Consolidated

A number of institutional investors and hedge funds have recently made changes to their positions in COKE. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Coca-Cola Consolidated by 8.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 17,251 shares of the company’s stock worth $23,289,000 after purchasing an additional 1,385 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Coca-Cola Consolidated by 1,587.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 270 shares of the company’s stock worth $30,000 after acquiring an additional 254 shares during the period. Baird Financial Group Inc. increased its stake in Coca-Cola Consolidated by 795.4% in the 2nd quarter. Baird Financial Group Inc. now owns 9,966 shares of the company’s stock valued at $1,113,000 after purchasing an additional 8,853 shares in the last quarter. Marshall Wace LLP increased its stake in Coca-Cola Consolidated by 5,152.8% in the 2nd quarter. Marshall Wace LLP now owns 18,910 shares of the company’s stock valued at $2,111,000 after purchasing an additional 18,550 shares in the last quarter. Finally, Cresset Asset Management LLC raised its holdings in Coca-Cola Consolidated by 169.0% during the second quarter. Cresset Asset Management LLC now owns 4,589 shares of the company’s stock worth $512,000 after purchasing an additional 2,883 shares during the last quarter. 48.24% of the stock is owned by hedge funds and other institutional investors.

Coca-Cola Consolidated Company Profile

Founded in 1902 and headquartered in Charlotte, North Carolina, Coca-Cola Consolidated, Inc is the largest independent bottler of Coca-Cola products in the United States. The company manufactures, sells and distributes a broad portfolio of sparkling and still beverages under exclusive agreements with The Coca-Cola Company. Its brand lineup includes Coca-Cola, Diet Coke, Sprite and Fanta, as well as noncarbonated offerings such as Minute Maid juices, Gold Peak teas, Dasani water, Powerade sports drinks and vitaminwater.

Coca-Cola Consolidated’s operations span 14 states and the District of Columbia across the Southeastern, South Central and Mid-Atlantic regions.