Coca-Cola Consolidated (NASDAQ:COKE) Stock Price Down 7.1% – Should You Sell?

Shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) dropped 7.1% on Friday . The company traded as low as $1,344.73 and last traded at $1,339.57. Approximately 23,361 shares changed hands during trading, a decline of 39% from the average daily volume of 38,362 shares. The stock had previously closed at $1,442.65.

Coca-Cola Consolidated Trading Down 3.2 %

The company has a market cap of $12.23 billion, a P/E ratio of 24.38 and a beta of 0.89. The company has a quick ratio of 2.15, a current ratio of 2.47 and a debt-to-equity ratio of 1.39. The business has a 50-day moving average price of $1,318.12 and a two-hundred day moving average price of $1,289.45.

Coca-Cola Consolidated (NASDAQ:COKE) last released its earnings results on Thursday, February 20th. The company reported $18.11 earnings per share for the quarter. The company had revenue of $1.75 billion during the quarter. Coca-Cola Consolidated had a return on equity of 46.94% and a net margin of 7.81%.

Coca-Cola Consolidated Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Friday, January 24th were issued a $2.50 dividend. The ex-dividend date of this dividend was Friday, January 24th. This represents a $10.00 dividend on an annualized basis and a yield of 0.72%. Coca-Cola Consolidated’s dividend payout ratio is presently 17.40%.

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. Creative Planning increased its holdings in Coca-Cola Consolidated by 1.9% in the third quarter. Creative Planning now owns 2,535 shares of the company’s stock valued at $3,338,000 after purchasing an additional 47 shares during the last quarter. Blue Trust Inc. increased its holdings in Coca-Cola Consolidated by 126.6% in the third quarter. Blue Trust Inc. now owns 213 shares of the company’s stock valued at $280,000 after purchasing an additional 119 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in Coca-Cola Consolidated by 151.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 20,596 shares of the company’s stock valued at $27,113,000 after purchasing an additional 12,393 shares during the last quarter. Lecap Asset Management Ltd. bought a new stake in Coca-Cola Consolidated in the third quarter valued at about $395,000. Finally, International Assets Investment Management LLC increased its holdings in shares of Coca-Cola Consolidated by 74,390.2% in the third quarter. International Assets Investment Management LLC now owns 152,705 shares of the company’s stock worth $201,021,000 after acquiring an additional 152,500 shares in the last quarter. Institutional investors own 48.24% of the company’s stock.

Coca-Cola Consolidated Company Profile

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.