Coca-Cola Consolidated (NASDAQ:COKE) Reaches New 12-Month High – Here’s Why

Coca-Cola Consolidated, Inc. (NASDAQ:COKE) shares reached a new 52-week high on Tuesday . The stock traded as high as $209.86 and last traded at $208.64, with a volume of 183767 shares trading hands. The stock had previously closed at $206.91.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “buy (b)” rating on shares of Coca-Cola Consolidated in a research report on Monday, December 29th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy”.

Coca-Cola Consolidated Trading Up 1.4%

The company has a market capitalization of $14.12 billion, a P/E ratio of 31.42 and a beta of 0.60. The business has a 50 day moving average price of $167.39 and a 200 day moving average price of $148.71. The company has a current ratio of 1.26, a quick ratio of 0.97 and a debt-to-equity ratio of 0.88.

Coca-Cola Consolidated (NASDAQ:COKE) last announced its quarterly earnings results on Wednesday, February 18th. The company reported $2.11 earnings per share (EPS) for the quarter. Coca-Cola Consolidated had a net margin of 7.89% and a return on equity of 66.42%. The company had revenue of $1.90 billion during the quarter.

Coca-Cola Consolidated Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 6th. Investors of record on Friday, January 23rd were issued a dividend of $0.25 per share. The ex-dividend date was Friday, January 23rd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.5%. Coca-Cola Consolidated’s dividend payout ratio (DPR) is presently 14.66%.

Institutional Trading of Coca-Cola Consolidated

A number of institutional investors have recently made changes to their positions in COKE. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Coca-Cola Consolidated by 8.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 17,251 shares of the company’s stock valued at $23,289,000 after buying an additional 1,385 shares during the last quarter. Envestnet Asset Management Inc. grew its holdings in shares of Coca-Cola Consolidated by 1,082.0% in the 2nd quarter. Envestnet Asset Management Inc. now owns 19,526 shares of the company’s stock valued at $2,180,000 after acquiring an additional 17,874 shares in the last quarter. Resona Asset Management Co. Ltd. grew its holdings in shares of Coca-Cola Consolidated by 900.0% in the 2nd quarter. Resona Asset Management Co. Ltd. now owns 4,550 shares of the company’s stock valued at $508,000 after acquiring an additional 4,095 shares in the last quarter. Savant Capital LLC increased its position in shares of Coca-Cola Consolidated by 252.4% in the second quarter. Savant Capital LLC now owns 3,179 shares of the company’s stock valued at $355,000 after acquiring an additional 2,277 shares during the last quarter. Finally, Parkside Financial Bank & Trust increased its position in shares of Coca-Cola Consolidated by 2,442.9% in the second quarter. Parkside Financial Bank & Trust now owns 356 shares of the company’s stock valued at $40,000 after acquiring an additional 342 shares during the last quarter. Institutional investors own 48.24% of the company’s stock.

Coca-Cola Consolidated Company Profile

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.