Coca-Cola Consolidated (NASDAQ:COKE) Trading Down 4.3%

Coca-Cola Consolidated, Inc. (NASDAQ:COKE) shares traded down 4.3% during mid-day trading on Friday . The company traded as low as $666.74 and last traded at $668.80. 36,287 shares changed hands during trading, a decline of 6% from the average session volume of 38,776 shares. The stock had previously closed at $698.90.

Wall Street Analyst Weigh In

Separately, StockNews.com began coverage on shares of Coca-Cola Consolidated in a research report on Thursday, August 17th. They set a “strong-buy” rating on the stock.

Coca-Cola Consolidated Stock Performance

The company has a market capitalization of $6.27 billion, a P/E ratio of 13.15 and a beta of 0.86. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.36 and a current ratio of 1.74. The business’s fifty day simple moving average is $665.18 and its 200-day simple moving average is $614.23.

Coca-Cola Consolidated (NASDAQ:COKE) last issued its earnings results on Wednesday, August 2nd. The company reported $18.43 earnings per share (EPS) for the quarter. The firm had revenue of $1.74 billion for the quarter. Coca-Cola Consolidated had a return on equity of 49.77% and a net margin of 7.34%.

Coca-Cola Consolidated Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 11th. Stockholders of record on Friday, July 28th were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Thursday, July 27th. This represents a $2.00 annualized dividend and a dividend yield of 0.30%. Coca-Cola Consolidated’s dividend payout ratio (DPR) is 3.93%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of COKE. Nemes Rush Group LLC bought a new position in Coca-Cola Consolidated during the second quarter valued at $29,000. HM Payson & Co. bought a new position in shares of Coca-Cola Consolidated in the 1st quarter valued at about $27,000. GPS Wealth Strategies Group LLC purchased a new position in Coca-Cola Consolidated in the first quarter worth about $33,000. Spire Wealth Management increased its stake in Coca-Cola Consolidated by 170.4% during the second quarter. Spire Wealth Management now owns 73 shares of the company’s stock worth $46,000 after acquiring an additional 46 shares during the last quarter. Finally, Macquarie Group Ltd. raised its position in Coca-Cola Consolidated by 34.3% during the fourth quarter. Macquarie Group Ltd. now owns 90 shares of the company’s stock valued at $46,000 after purchasing an additional 23 shares during the period. 39.64% of the stock is owned by hedge funds and other institutional investors.

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, such as sparling 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.