Coca-Cola HBC (OTCMKTS:CCHGY) Shares Gap Down - Here's What Happened

Key Points

• Coca-Cola HBC shares experienced a significant drop, opening at $48.53, down from a previous close of $52.39, with recent trading at $48.41 and a volume of 792 shares.
• Research analysts maintain a positive outlook for the stock, with ratings ranging from "hold" to "strong-buy," and a current average rating of "Buy."
• The company announced a dividend increase to $1.1203 per share, up from $0.60, resulting in a dividend yield of 207.0% paid to investors of record on June 2nd.

Coca-Cola HBC (OTCMKTS:CCHGY - Get Free Report) gapped down before the market opened on Wednesday . The stock had previously closed at $52.39, but opened at $48.53. Coca-Cola HBC shares last traded at $48.41, with a volume of 792 shares.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on CCHGY shares. Wall Street Zen raised Coca-Cola HBC from a "buy" rating to a "strong-buy" rating in a report on Sunday. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of Coca-Cola HBC in a report on Friday, July 4th. Three research analysts have rated the stock with a hold rating, three have assigned a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Buy".

Coca-Cola HBC Stock Performance

The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.95 and a current ratio of 1.17. The stock has a 50-day moving average price of $52.84 and a 200-day moving average price of $47.60.

Coca-Cola HBC Increases Dividend

The firm also recently disclosed a dividend, which was paid on Wednesday, July 9th. Investors of record on Monday, June 2nd were given a dividend of $1.1203 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a dividend yield of 207.0%. This is a boost from Coca-Cola HBC's previous dividend of $0.60.

Coca-Cola HBC Company Profile

Coca-Cola HBC AG engages in the production, distribution, and sale of non-alcoholic ready-to-drink beverages under franchise in Switzerland, the United Kingdom, North and Central America, rest of Europe, the Nordic countries, and internationally. The company offers sparkling soft drinks, adult sparkling, hydration drinks, juices, ready-to-drink tea and coffee, sports and energy drinks, dairy, stills, coffee, water, plant-based drinks, premium spirits, and snacks.

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