Coca-Cola Consolidated (NASDAQ:COKE) Trading 7.1% Higher - What's Next?

Key Points

• Coca-Cola Consolidated shares rose 7.1% to about $199.57 in midday trading, although volume was 63% below the average daily level.
• Analysts maintain a favorable outlook, with the stock carrying a consensus “Buy” rating and Weiss Ratings reaffirming its “buy (b)” rating.
• The company reported quarterly earnings of $1.79 per share on $1.71 billion in revenue and declared a quarterly dividend of $0.25, equivalent to a 0.5% annualized yield.

Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Get Free Report)'s stock price rose 7.1% on Tuesday . The company traded as high as $199.30 and last traded at $199.5660. 193,327 shares were traded during mid-day trading, a decline of 63% from the average daily volume of 524,241 shares. The stock had previously closed at $186.28.

Wall Street Analysts Forecast Growth

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

Coca-Cola Consolidated Price Performance

The company has a 50 day simple moving average of $181.31 and a 200-day simple moving average of $181.07. The stock has a market cap of $13.07 billion, a P/E ratio of 26.86 and a beta of 0.54.

Coca-Cola Consolidated (NASDAQ:COKE - Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $1.79 earnings per share for the quarter. The company had revenue of $1.71 billion for the quarter. Coca-Cola Consolidated had a return on equity of 138.44% and a net margin of 7.72%.

Coca-Cola Consolidated Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 7th. Stockholders of record on Friday, July 24th will be issued 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 payout ratio is currently 13.68%.

Hedge Funds Weigh In On Coca-Cola Consolidated

Large investors have recently bought and sold shares of the stock. Quarry LP purchased a new stake in Coca-Cola Consolidated during the 3rd quarter valued at $25,000. Advisory Services Network LLC purchased a new stake in shares of Coca-Cola Consolidated during the third quarter worth about $25,000. Newbridge Financial Services Group Inc. grew its stake in shares of Coca-Cola Consolidated by 900.0% in the second quarter. Newbridge Financial Services Group Inc. now owns 230 shares of the company's stock worth $26,000 after purchasing an additional 207 shares during the last quarter. Geneos Wealth Management Inc. increased its holdings in Coca-Cola Consolidated by 900.0% during the 2nd quarter. Geneos Wealth Management Inc. now owns 250 shares of the company's stock valued at $28,000 after purchasing an additional 225 shares during the period. Finally, Torren Management LLC bought a new stake in shares of Coca-Cola Consolidated in the 4th quarter worth approximately $29,000. 48.24% of the stock is owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.