Coca-Cola Consolidated (NASDAQ:COKE) Stock Price Crosses Above 200 Day Moving Average – Here’s Why

Coca-Cola Consolidated, Inc. (NASDAQ:COKE) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $1,295.53 and traded as high as $1,304.76. Coca-Cola Consolidated shares last traded at $1,298.93, with a volume of 29,634 shares trading hands.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered Coca-Cola Consolidated from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, March 19th.

Coca-Cola Consolidated Stock Up 0.1 %

The firm has a market capitalization of $11.32 billion, a price-to-earnings ratio of 18.60 and a beta of 0.74. The business has a 50 day moving average of $1,357.03 and a 200 day moving average of $1,295.53. The company has a debt-to-equity ratio of 1.39, a current ratio of 2.47 and a quick ratio of 2.15.

Coca-Cola Consolidated shares are scheduled to split on the morning of 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 released its quarterly earnings data on Thursday, February 20th. The company reported $18.11 earnings per share for the quarter. The company 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 business also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Friday, January 24th were issued a dividend of $2.50 per share. The ex-dividend date was Friday, January 24th. This represents a $10.00 dividend on an annualized basis and a dividend yield of 0.77%. Coca-Cola Consolidated’s payout ratio is presently 14.32%.

Institutional Investors Weigh In On Coca-Cola Consolidated

Several institutional investors and hedge funds have recently made changes to their positions in the company. Wellington Management Group LLP boosted its position in Coca-Cola Consolidated by 33.1% in the fourth quarter. Wellington Management Group LLP now owns 3,296 shares of the company’s stock valued at $4,153,000 after buying an additional 820 shares in the last quarter. Brooklyn FI LLC bought a new position in shares of Coca-Cola Consolidated in the fourth quarter valued at approximately $4,407,000. Jefferies Financial Group Inc. acquired a new position in shares of Coca-Cola Consolidated in the 4th quarter worth approximately $809,000. Pullen Investment Management LLC grew its position in Coca-Cola Consolidated by 46.4% during the 4th quarter. Pullen Investment Management LLC now owns 1,649 shares of the company’s stock worth $2,078,000 after acquiring an additional 523 shares during the last quarter. Finally, Sunbelt Securities Inc. increased its holdings in Coca-Cola Consolidated by 10.8% during the 4th quarter. Sunbelt Securities Inc. now owns 103 shares of the company’s stock valued at $128,000 after purchasing an additional 10 shares in the last quarter. Institutional investors and hedge funds own 48.24% of the company’s stock.

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.