Coca-Cola Consolidated (NASDAQ:COKE) Shares Down 5.8% – Should You Sell?

Coca-Cola Consolidated, Inc. (NASDAQ:COKE)’s stock price dropped 5.8% during trading on Monday . The stock traded as low as $150.80 and last traded at $151.2620. Approximately 262,344 shares changed hands during mid-day trading, a decline of 53% from the average daily volume of 553,100 shares. The stock had previously closed at $160.63.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “buy (b)” rating on shares of Coca-Cola Consolidated in a research report on Monday, December 22nd. One analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy”.

Coca-Cola Consolidated Trading Down 4.0%

The stock’s 50 day simple moving average is $153.02 and its 200 day simple moving average is $128.99. The firm has a market cap of $13.18 billion, a PE ratio of 21.88 and a beta of 0.63. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.79 and a current ratio of 2.04.

Coca-Cola Consolidated Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 7th. Investors of record on Friday, October 24th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend was Friday, October 24th. Coca-Cola Consolidated’s dividend payout ratio is currently 14.25%.

Institutional Investors Weigh In On Coca-Cola Consolidated

Several hedge funds have recently added to or reduced their stakes in COKE. Norges Bank bought a new position in shares of Coca-Cola Consolidated during the 2nd quarter valued at about $280,669,000. Boston Partners grew its position in Coca-Cola Consolidated by 942.2% during the second quarter. Boston Partners now owns 2,089,876 shares of the company’s stock valued at $233,345,000 after acquiring an additional 1,889,358 shares during the last quarter. State Street Corp grew its position in Coca-Cola Consolidated by 836.9% during the second quarter. State Street Corp now owns 1,729,065 shares of the company’s stock valued at $193,050,000 after acquiring an additional 1,544,516 shares during the last quarter. Diversified Trust Co raised its stake in shares of Coca-Cola Consolidated by 900.0% during the second quarter. Diversified Trust Co now owns 1,462,487 shares of the company’s stock worth $163,287,000 after acquiring an additional 1,316,233 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Coca-Cola Consolidated by 882.9% in the 2nd quarter. Geode Capital Management LLC now owns 1,302,088 shares of the company’s stock worth $145,398,000 after acquiring an additional 1,169,611 shares during the last quarter. Institutional investors own 48.24% of the company’s stock.

About Coca-Cola Consolidated

Founded in 1902 and headquartered in Charlotte, North Carolina, Coca-Cola Consolidated, Inc is the largest independent bottler of Coca-Cola products in the United States. The company manufactures, sells and distributes a broad portfolio of sparkling and still beverages under exclusive agreements with The Coca-Cola Company. Its brand lineup includes Coca-Cola, Diet Coke, Sprite and Fanta, as well as noncarbonated offerings such as Minute Maid juices, Gold Peak teas, Dasani water, Powerade sports drinks and vitaminwater.

Coca-Cola Consolidated’s operations span 14 states and the District of Columbia across the Southeastern, South Central and Mid-Atlantic regions.