Coca-Cola Consolidated (NASDAQ:COKE) Stock Price Down 3.5% - Here's Why

Key Points

• Coca-Cola Consolidated's stock fell by 3.5% on Thursday, trading as low as $115.00, with a significant decline in trading volume compared to the average.
• The company's earnings per share (EPS) for the recent quarter was reported at $2.24, with a return on equity of 44.91% and a net margin of 8.43%.
• Coca-Cola Consolidated recently declared a quarterly dividend of $0.25 per share, representing an annualized dividend of $1.00 and a yield of 0.9%.

Shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Get Free Report) were down 3.5% during mid-day trading on Thursday . The company traded as low as $115.00 and last traded at $114.38. Approximately 89,918 shares changed hands during mid-day trading, a decline of 84% from the average daily volume of 552,294 shares. The stock had previously closed at $118.53.

Analyst Ratings Changes

Separately, Wall Street Zen raised Coca-Cola Consolidated from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th.

Coca-Cola Consolidated Trading Down 3.6%

The stock has a market capitalization of $9.93 billion, a price-to-earnings ratio of 17.09 and a beta of 0.76. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.78 and a current ratio of 2.04. The firm has a fifty day moving average of $116.17 and a 200-day moving average of $127.82.

Coca-Cola Consolidated (NASDAQ:COKE - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The company reported $2.24 earnings per share (EPS) for the quarter. Coca-Cola Consolidated had a return on equity of 44.91% and a net margin of 8.43%.The firm had revenue of $1.86 billion during the quarter.

Coca-Cola Consolidated Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 8th. Stockholders of record on Friday, July 25th were paid a dividend of $0.25 per share. The ex-dividend date was Friday, July 25th. This represents a $1.00 annualized dividend and a dividend yield of 0.9%. Coca-Cola Consolidated's dividend payout ratio (DPR) is currently 14.93%.

Institutional Trading of Coca-Cola Consolidated

Several large investors have recently modified their holdings of COKE. Norges Bank acquired a new stake in shares of Coca-Cola Consolidated during the second quarter valued at about $280,669,000. Boston Partners grew its stake in shares of Coca-Cola Consolidated by 942.2% during the second quarter. Boston Partners now owns 2,089,876 shares of the company's stock valued at $233,345,000 after acquiring an additional 1,889,358 shares in the last quarter. State Street Corp grew its stake in shares of Coca-Cola Consolidated by 836.9% during the second quarter. State Street Corp now owns 1,729,065 shares of the company's stock valued at $193,050,000 after acquiring an additional 1,544,516 shares in the last quarter. Diversified Trust Co grew its stake in shares of Coca-Cola Consolidated by 900.0% during the second quarter. Diversified Trust Co now owns 1,462,487 shares of the company's stock valued at $163,287,000 after acquiring an additional 1,316,233 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Coca-Cola Consolidated by 882.9% during the second quarter. Geode Capital Management LLC now owns 1,302,088 shares of the company's stock valued at $145,398,000 after acquiring an additional 1,169,611 shares in the last quarter. 48.24% of the stock is currently owned by institutional investors and hedge funds.

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.

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