Coca-Cola Consolidated (NASDAQ:COKE) Downgraded to Buy Rating by StockNews.com

StockNews.com lowered shares of Coca-Cola Consolidated (NASDAQ:COKE - Free Report) from a strong-buy rating to a buy rating in a research note issued to investors on Saturday morning.

Coca-Cola Consolidated Trading Up 2.0%

Shares of NASDAQ:COKE traded up $22.84 during trading on Friday, hitting $1,175.34. 78,900 shares of the company's stock were exchanged, compared to its average volume of 51,230. The firm has a 50-day moving average price of $1,316.46 and a two-hundred day moving average price of $1,304.06. The company has a current ratio of 2.47, a quick ratio of 2.15 and a debt-to-equity ratio of 1.39. The firm has a market cap of $10.25 billion, a P/E ratio of 16.83 and a beta of 0.89. Coca-Cola Consolidated has a 1-year low of $925.08 and a 1-year high of $1,460.92.

Coca-Cola Consolidated's stock is going to split before the market opens on Tuesday, May 27th. The 10-1 split was announced on Tuesday, March 4th. The newly minted shares will be issued to shareholders after the market closes on Friday, May 23rd.

Coca-Cola Consolidated (NASDAQ:COKE - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The company reported $15.61 earnings per share for the quarter. The company had revenue of $1.58 billion during the quarter. Coca-Cola Consolidated had a net margin of 9.18% and a return on equity of 49.88%.

Coca-Cola Consolidated Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 9th. Investors of record on Friday, April 25th were paid a $2.50 dividend. The ex-dividend date was Friday, April 25th. This represents a $10.00 annualized dividend and a dividend yield of 0.85%. Coca-Cola Consolidated's dividend payout ratio (DPR) is presently 15.61%.

Institutional Trading of Coca-Cola Consolidated

Several large investors have recently made changes to their positions in the company. Newbridge Financial Services Group Inc. acquired a new position in shares of Coca-Cola Consolidated in the fourth quarter valued at approximately $29,000. Wayfinding Financial LLC acquired a new position in Coca-Cola Consolidated during the 1st quarter worth approximately $46,000. Allworth Financial LP lifted its stake in shares of Coca-Cola Consolidated by 260.0% in the fourth quarter. Allworth Financial LP now owns 36 shares of the company's stock valued at $48,000 after buying an additional 26 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. raised its stake in shares of Coca-Cola Consolidated by 1,133.3% in the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 37 shares of the company's stock worth $47,000 after purchasing an additional 34 shares during the last quarter. Finally, Wingate Wealth Advisors Inc. purchased a new position in Coca-Cola Consolidated during the fourth quarter worth about $52,000. Institutional investors and hedge funds own 48.24% of the company's stock.

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.