Coca-Cola Consolidated (NASDAQ:COKE) Stock Price Passes Above 200-Day Moving Average - Time to Sell?

Key Points

• Coca-Cola Consolidated (NASDAQ:COKE) shares moved above their 200-day moving average, trading as high as $182.63 and last changing hands at $182.45. The stock’s 200-day average was $179.53, a technical move that may attract trader attention.
• Wall Street sentiment remains constructive: Weiss Ratings reaffirmed a “buy” rating, and MarketBeat data shows a consensus Buy rating on the stock.
• The company recently reported quarterly EPS of $1.79 on $1.71 billion in revenue and announced a quarterly dividend of $0.25 per share, payable August 7. The dividend implies a modest 0.5% yield.

Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Get Free Report)'s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $179.53 and traded as high as $182.63. Coca-Cola Consolidated shares last traded at $182.45, with a volume of 455,617 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a "buy (b)" rating on shares of Coca-Cola Consolidated in a research report on Wednesday, June 24th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company has a consensus rating of "Buy".

Coca-Cola Consolidated Stock Performance

The firm has a market capitalization of $12.14 billion, a price-to-earnings ratio of 24.96 and a beta of 0.54. The company has a 50 day moving average price of $179.48 and a two-hundred day moving average price of $179.53.

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 (EPS) for the quarter. The firm had revenue of $1.71 billion for the quarter. Coca-Cola Consolidated had a net margin of 7.72% and a return on equity of 138.44%.

Coca-Cola Consolidated Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 7th. Stockholders of record on Friday, July 24th will be given a $0.25 dividend. The ex-dividend date is Friday, July 24th. This represents a $1.00 annualized dividend and a dividend yield of 0.5%. Coca-Cola Consolidated's dividend payout ratio (DPR) is 13.68%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in Coca-Cola Consolidated by 6.4% in the 4th quarter. Vanguard Group Inc. now owns 5,686,058 shares of the company's stock worth $871,673,000 after buying an additional 341,374 shares during the last quarter. Boston Partners raised its holdings in shares of Coca-Cola Consolidated by 7.8% during the fourth quarter. Boston Partners now owns 2,329,643 shares of the company's stock valued at $357,091,000 after acquiring an additional 169,555 shares during the last quarter. First Trust Advisors LP lifted 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 acquiring an additional 603,513 shares in the last quarter. State Street Corp lifted 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 acquiring an additional 1,544,516 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Coca-Cola Consolidated in the fourth quarter worth approximately $222,408,000. Institutional investors and hedge funds 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.

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