Coca-Cola Consolidated (NASDAQ:COKE) Downgraded by StockNews.com to Buy

StockNews.com cut shares of Coca-Cola Consolidated (NASDAQ:COKE) from a strong-buy rating to a buy rating in a research report sent to investors on Wednesday morning.

Coca-Cola Consolidated Stock Down 1.0 %

NASDAQ COKE opened at $1,300.63 on Wednesday. Coca-Cola Consolidated has a fifty-two week low of $800.76 and a fifty-two week high of $1,460.92. The stock has a market capitalization of $11.34 billion, a PE ratio of 18.62 and a beta of 0.74. The company has a debt-to-equity ratio of 1.39, a current ratio of 2.47 and a quick ratio of 2.15. The business has a fifty day moving average price of $1,356.38 and a two-hundred day moving average price of $1,296.83.

Coca-Cola Consolidated shares are scheduled to split on Tuesday, May 27th. The 10-1 split was announced on Tuesday, March 4th. The newly issued shares will be issued to shareholders after the market closes on Friday, May 23rd.

Coca-Cola Consolidated (NASDAQ:COKE) last announced its quarterly earnings results on Thursday, February 20th. The company reported $18.11 EPS for the quarter. Coca-Cola Consolidated had a return on equity of 49.88% and a net margin of 9.18%. The company had revenue of $1.75 billion during the quarter.

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 0.77%. Coca-Cola Consolidated’s payout ratio is 14.32%.

Institutional Trading of Coca-Cola Consolidated

A number of institutional investors and hedge funds have recently bought and sold shares of COKE. Newbridge Financial Services Group Inc. acquired a new stake in Coca-Cola Consolidated in the fourth quarter valued at $29,000. E Fund Management Hong Kong Co. Ltd. grew its holdings in Coca-Cola Consolidated by 1,133.3% during the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 37 shares of the company’s stock worth $47,000 after acquiring an additional 34 shares during the period. Allworth Financial LP grew its stake in shares of Coca-Cola Consolidated by 260.0% in the 4th quarter. Allworth Financial LP now owns 36 shares of the company’s stock valued at $48,000 after buying an additional 26 shares during the period. Wingate Wealth Advisors Inc. acquired a new stake in shares of Coca-Cola Consolidated in the 4th quarter valued at about $52,000. Finally, Transce3nd LLC acquired a new stake in shares of Coca-Cola Consolidated in the 4th quarter valued at about $63,000. 48.24% of the stock is currently owned by institutional investors and hedge funds.

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.