Coca-Cola Consolidated (NASDAQ:COKE) Announces 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) released its quarterly earnings data on Thursday. The company reported $2.24 EPS for the quarter, Zacks reports. The company had revenue of $1.86 billion during the quarter. Coca-Cola Consolidated had a net margin of 8.43% and a return on equity of 46.75%.

Coca-Cola Consolidated Stock Performance

COKE traded up $6.99 on Friday, hitting $118.80. The company's stock had a trading volume of 1,479,309 shares, compared to its average volume of 649,636. The company's 50 day simple moving average is $132.69 and its 200-day simple moving average is $132.91. The firm has a market cap of $10.36 billion, a P/E ratio of 17.73 and a beta of 0.79. Coca-Cola Consolidated has a 12 month low of $105.21 and a 12 month high of $146.09. The company has a quick ratio of 1.76, a current ratio of 2.03 and a debt-to-equity ratio of 0.96.

Coca-Cola Consolidated Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Friday, July 25th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.84%. The ex-dividend date is Friday, July 25th. Coca-Cola Consolidated's dividend payout ratio (DPR) is presently 15.60%.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Coca-Cola Consolidated stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) by 8.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,251 shares of the company's stock after purchasing 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. Institutional investors and hedge funds own 48.24% of the company's stock.

Wall Street Analysts Forecast Growth

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

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.