Coca-Cola Consolidated (NASDAQ:COKE) Sets New 1-Year High – Here’s Why

Coca-Cola Consolidated, Inc. (NASDAQ:COKE)’s share price reached a new 52-week high during trading on Thursday. The company traded as high as $219.99 and last traded at $216.43, with a volume of 125,037 shares changing hands. The stock had previously closed at $204.18.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on COKE. Weiss Ratings raised Coca-Cola Consolidated from a “buy (b)” rating to a “buy (b+)” rating in a research report on Friday, October 16th. Wall Street Zen lowered shares of Coca-Cola Consolidated from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. One research analyst has rated the stock with a Buy rating. According to MarketBeat.com, the stock presently has a consensus rating of “Buy”.

Coca-Cola Consolidated Stock Down 2.2%

The company has a fifty day simple moving average of $198.52 and a 200-day simple moving average of $187.82. The firm has a market cap of $13.84 billion, a P/E ratio of 24.34 and a beta of 0.56.

Coca-Cola Consolidated (NASDAQ:COKE) last posted its quarterly earnings data on Wednesday, November 4th. The company reported $2.63 EPS for the quarter. Coca-Cola Consolidated had a negative return on equity of 1,041.59% and a net margin of 7.15%. The firm had revenue of $1.99 billion for the quarter.

Coca-Cola Consolidated Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 6th. Investors of record on Friday, October 23rd were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend was Friday, October 23rd. Coca-Cola Consolidated’s dividend payout ratio is currently 11.71%.

Institutional Investors Weigh In On Coca-Cola Consolidated

A number of institutional investors and hedge funds have recently added to or reduced their stakes in COKE. BlackRock Inc. bought a new position in shares of Coca-Cola Consolidated in the second quarter worth approximately $26,229,118,000. Legal & General Group Plc bought a new position in Coca-Cola Consolidated in the 2nd quarter worth $1,978,267,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in Coca-Cola Consolidated in the 2nd quarter worth $1,591,427,000. GQG Partners LLC purchased a new stake in Coca-Cola Consolidated in the 2nd quarter worth $1,494,498,000. Finally, Deutsche Bank AG purchased a new stake in Coca-Cola Consolidated in the 2nd quarter worth $1,346,125,000. Institutional investors own 48.24% of the company’s stock.

Coca-Cola Consolidated Company Profile

Coca-Cola Consolidated, Inc is the largest Coca-Cola bottler in the United States. Based in Charlotte, North Carolina, the company produces, sells, markets and distributes a broad portfolio of nonalcoholic beverages for The Coca-Cola Company and other brand owners.

Its products include Coca-Cola, Diet Coke, Coca-Cola Zero Sugar, Sprite, Fanta, DASANI, smartwater, POWERADE, Minute Maid and fairlife, along with other soft drinks, water, sports drinks, juices, dairy beverages and emerging beverage brands.