Coca-Cola Consolidated (NASDAQ:COKE) Stock Price Down 19.7% - What's Next?

Key Points

• Shares plunged 19.7%, dropping from a $210.52 close to about $169 (intraday low $173.02) with ~310,222 shares traded, roughly 34% below average volume.
• The company reported quarterly EPS of $1.79 on $1.71 billion in revenue and declared a $0.25 quarterly dividend (annualized $1.00, ~0.6% yield).
• Analysts maintain a consensus Buy rating (Weiss reissued a buy), and institutional investors — including Vanguard, State Street and Norges Bank — now own about 48% of the company and have been increasing positions.

Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Get Free Report)'s share price was down 19.7% on Thursday . The stock traded as low as $173.02 and last traded at $169.0120. Approximately 310,222 shares traded hands during trading, a decline of 34% from the average daily volume of 467,946 shares. The stock had previously closed at $210.52.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a "buy (b)" rating on shares of Coca-Cola Consolidated in a research report on Friday, March 27th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy".

Coca-Cola Consolidated Stock Down 15.6%

The company has a debt-to-equity ratio of 0.88, a current ratio of 1.26 and a quick ratio of 0.97. The firm has a 50-day simple moving average of $199.13 and a two-hundred day simple moving average of $169.88. The company has a market cap of $11.82 billion, a PE ratio of 26.05 and a beta of 0.61.

Coca-Cola Consolidated (NASDAQ:COKE - Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The company reported $1.79 earnings per share for the quarter. The company had revenue of $1.71 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 will be paid on Friday, May 8th. Stockholders of record on Friday, April 24th will be given a $0.25 dividend. The ex-dividend date of this dividend is Friday, April 24th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.6%. Coca-Cola Consolidated's payout ratio is currently 14.66%.

Institutional Investors Weigh In On Coca-Cola Consolidated

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its position in shares of Coca-Cola Consolidated by 6.4% in the fourth quarter. Vanguard Group Inc. now owns 5,686,058 shares of the company's stock valued at $871,673,000 after purchasing an additional 341,374 shares during the period. Boston Partners grew its position in shares of Coca-Cola Consolidated by 7.8% in the fourth quarter. Boston Partners now owns 2,329,643 shares of the company's stock valued at $357,091,000 after purchasing an additional 169,555 shares during the period. First Trust Advisors LP grew its position in shares of Coca-Cola Consolidated by 42.1% in the fourth quarter. First Trust Advisors LP now owns 2,037,083 shares of the company's stock valued at $312,285,000 after purchasing an additional 603,513 shares during the period. State Street Corp grew its position in shares of Coca-Cola Consolidated by 836.9% in the second quarter. State Street Corp now owns 1,729,065 shares of the company's stock valued at $193,050,000 after purchasing an additional 1,544,516 shares during the period. Finally, Norges Bank purchased a new stake in shares of Coca-Cola Consolidated in the fourth quarter valued at $222,408,000. Hedge funds and other 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.

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