Coca-Cola Consolidated (NASDAQ:COKE) Stock Price Up 11.1% - Should You Buy?

Key Points

• Coca-Cola Consolidated stock surged by 11.1% to close at $123.94 amid a trading volume that was significantly lower than average.
• The company's most recent financial performance included $2.24 EPS and $1.86 billion in revenue for the quarter, reflecting a net margin of 8.29%.
• Coca-Cola Consolidated declared a quarterly dividend of $0.25 per share, translating to a 0.84% yield, with an ex-dividend date set for July 25th.
• Several institutional investors made significant moves, including Beacon Capital Management and Sound Income Strategies, both increasing their stakes by 905% in the recent quarter.

Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Get Free Report)'s stock price was up 11.1% during mid-day trading on Friday . The stock traded as high as $123.20 and last traded at $123.94. Approximately 248,502 shares traded hands during mid-day trading, a decline of 57% from the average daily volume of 572,315 shares. The stock had previously closed at $111.56.

Analyst Upgrades and Downgrades

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

Coca-Cola Consolidated Trading Down 0.5%

The company has a market capitalization of $10.08 billion, a price-to-earnings ratio of 17.28 and a beta of 0.79. The company has a 50-day moving average price of $132.68 and a 200-day moving average price of $132.90. The company has a quick ratio of 1.78, a current ratio of 2.04 and a debt-to-equity ratio of 0.88.

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

Coca-Cola Consolidated Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Friday, July 25th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date of this dividend is Friday, July 25th. Coca-Cola Consolidated's dividend payout ratio is currently 14.93%.

Hedge Funds Weigh In On Coca-Cola Consolidated

Several institutional investors and hedge funds have recently made changes to their positions in the company. Diversified Trust Co boosted its stake in Coca-Cola Consolidated by 900.0% in the 2nd quarter. Diversified Trust Co now owns 1,462,487 shares of the company's stock worth $163,287,000 after purchasing an additional 1,316,233 shares during the period. Vanguard Group Inc. raised its holdings in shares of Coca-Cola Consolidated by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 578,916 shares of the company's stock valued at $729,428,000 after purchasing an additional 7,106 shares during the period. Jones Financial Companies Lllp raised its holdings in Coca-Cola Consolidated by 265,541.3% in the 1st quarter. Jones Financial Companies Lllp now owns 502,062 shares of the company's stock valued at $677,784,000 after acquiring an additional 501,873 shares during the period. Truist Financial Corp raised its holdings in Coca-Cola Consolidated by 902.4% in the 2nd quarter. Truist Financial Corp now owns 289,493 shares of the company's stock valued at $32,322,000 after acquiring an additional 260,612 shares during the period. Finally, Vaughan Nelson Investment Management L.P. raised its holdings in Coca-Cola Consolidated by 548.0% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 226,905 shares of the company's stock valued at $25,334,000 after acquiring an additional 191,887 shares during the period. Institutional investors and hedge funds own 48.24% of the company's stock.

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.