Coca-Cola Consolidated (NASDAQ:COKE) Trading Down 5.5% – Here’s Why

Coca-Cola Consolidated, Inc. (NASDAQ:COKE)’s stock price fell 5.5% on Monday . The stock traded as low as $190.00 and last traded at $190.3910. 433,772 shares changed hands during trading, a decline of 9% from the average session volume of 474,265 shares. The stock had previously closed at $201.45.

Analyst Ratings Changes

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

Coca-Cola Consolidated Price Performance

The company has a current ratio of 1.26, a quick ratio of 0.97 and a debt-to-equity ratio of 0.88. The company has a market capitalization of $12.40 billion, a PE ratio of 27.33 and a beta of 0.60. The stock’s 50-day moving average is $177.55 and its two-hundred day moving average is $154.55.

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

Coca-Cola Consolidated Dividend Announcement

The firm 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 yield of 0.5%. Coca-Cola Consolidated’s payout ratio is presently 14.66%.

Institutional Trading of Coca-Cola Consolidated

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Beacon Pointe Advisors LLC boosted its stake in shares of Coca-Cola Consolidated by 2.6% during the fourth quarter. Beacon Pointe Advisors LLC now owns 2,842 shares of the company’s stock valued at $436,000 after purchasing an additional 72 shares during the period. Fifth Third Bancorp increased its stake in Coca-Cola Consolidated by 16.0% in the 3rd quarter. Fifth Third Bancorp now owns 528 shares of the company’s stock worth $62,000 after buying an additional 73 shares during the period. UMB Bank n.a. lifted its holdings in Coca-Cola Consolidated by 8.9% during the 4th quarter. UMB Bank n.a. now owns 951 shares of the company’s stock valued at $146,000 after buying an additional 78 shares in the last quarter. Blue Trust Inc. boosted its position in Coca-Cola Consolidated by 9.8% in the 3rd quarter. Blue Trust Inc. now owns 909 shares of the company’s stock valued at $106,000 after buying an additional 81 shares during the period. Finally, Legacy Wealth Asset Management LLC boosted its position in Coca-Cola Consolidated by 2.3% in the 4th quarter. Legacy Wealth Asset Management LLC now owns 4,021 shares of the company’s stock valued at $616,000 after buying an additional 89 shares during the period. Hedge funds and other 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.