Coca-Cola Consolidated (NASDAQ:COKE) Issues Quarterly Earnings Results

Key Points

• Coca-Cola Consolidated reported quarterly earnings with an EPS of $2.24 and revenue of $1.86 billion, indicating a net margin of 8.43% and a high return on equity of 46.75%.
• The company announced a quarterly dividend of $0.25 per share, leading to an annualized dividend yield of 0.84% with a payout ratio of 15.60%.
• UBS Asset Management increased its stake in Coca-Cola Consolidated by 8.7%, and the stock rating was upgraded from "hold" to "buy" by Wall Street analysts, reflecting growing investor confidence.

Coca-Cola Consolidated (NASDAQ:COKE - Get Free Report) announced its quarterly earnings results on Thursday. The company reported $2.24 earnings per share for the quarter, Zacks reports. Coca-Cola Consolidated had a net margin of 8.43% and a return on equity of 44.91%. The firm had revenue of $1.86 billion during the quarter.

Coca-Cola Consolidated Stock Performance

COKE stock traded down $0.13 on Wednesday, hitting $114.65. The company's stock had a trading volume of 739,608 shares, compared to its average volume of 583,268. The firm has a 50 day moving average of $132.66 and a two-hundred day moving average of $132.77. Coca-Cola Consolidated has a 1 year low of $105.21 and a 1 year high of $146.09. The stock has a market cap of $10.00 billion, a price-to-earnings ratio of 17.11 and a beta of 0.79. The company has a current ratio of 2.04, a quick ratio of 1.78 and a debt-to-equity ratio of 0.88.

Coca-Cola Consolidated Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Friday, July 25th will be given a $0.25 dividend. The ex-dividend date is Friday, July 25th. This represents a $1.00 annualized dividend and a yield of 0.87%. Coca-Cola Consolidated's dividend payout ratio (DPR) is 14.93%.

Institutional Investors Weigh In On Coca-Cola Consolidated

A hedge fund recently raised its stake in Coca-Cola Consolidated stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) by 8.7% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 17,251 shares of the company's stock after buying an additional 1,385 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned 0.20% of Coca-Cola Consolidated worth $23,289,000 at the end of the most recent reporting period. 48.24% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Wall Street Zen raised Coca-Cola Consolidated from a "hold" rating to a "buy" rating in a report on Saturday.

About Coca-Cola Consolidated

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.