Coca-Cola Consolidated (NASDAQ:COKE) Reaches New 1-Year High - What's Next?

Key Points

• Coca-Cola Consolidated shares hit a new 52-week high of $219.99, up 5.3% on the day; they were last trading at $216.43.
• Analyst views were mixed: Wall Street Zen downgraded the stock to Hold, while Weiss Ratings raised its rating; MarketBeat reported an overall Buy consensus.
• The company reported quarterly earnings of $2.63 per share on $1.99 billion in revenue and announced a $0.25 quarterly dividend, equal to a 0.5% yield.

Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Get Free Report) shares reached a new 52-week high during trading on Thursday. The stock traded as high as $219.99 and last traded at $216.43, with a volume of 125,037 shares traded. The stock had previously closed at $204.18.

Analysts Set New Price Targets

Several brokerages have weighed in on COKE. Wall Street Zen lowered shares of Coca-Cola Consolidated from a "buy" rating to a "hold" rating in a research report on Saturday, August 8th. Weiss Ratings upgraded Coca-Cola Consolidated from a "buy (b)" rating to a "buy (b+)" rating in a report on Friday, October 16th. One investment analyst has rated the stock with a Buy rating. Based on data from MarketBeat.com, the company currently has an average rating of "Buy".

Coca-Cola Consolidated Trading Up 5.3%

The company has a market capitalization of $14.31 billion, a P/E ratio of 28.35 and a beta of 0.56. The business's fifty day moving average price is $197.89 and its 200 day moving average price is $187.24.

Coca-Cola Consolidated (NASDAQ:COKE - Get Free Report) last released its earnings results on Wednesday, November 4th. The company reported $2.63 earnings per share for the quarter. The business had revenue of $1.99 billion during the quarter. Coca-Cola Consolidated had a net margin of 7.15% and a negative return on equity of 1,041.59%.

Coca-Cola Consolidated Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 6th. Investors of record on Friday, October 23rd will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, October 23rd. This represents a $1.00 annualized dividend and a yield of 0.5%. Coca-Cola Consolidated's payout ratio is currently 13.26%.

Hedge Funds Weigh In On Coca-Cola Consolidated

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Illinois Municipal Retirement Fund grew its position in shares of Coca-Cola Consolidated by 19.5% during the third quarter. Illinois Municipal Retirement Fund now owns 43,776 shares of the company's stock worth $8,285,000 after buying an additional 7,147 shares in the last quarter. Triton Wealth Management PLLC acquired a new position in shares of Coca-Cola Consolidated during the 3rd quarter valued at about $206,000. Csenge Advisory Group grew its position in Coca-Cola Consolidated by 2.5% in the 3rd quarter. Csenge Advisory Group now owns 2,061 shares of the company's stock worth $390,000 after purchasing an additional 50 shares during the last quarter. D Orazio & Associates Inc. boosted its stake in Coca-Cola Consolidated by 18.7% in the 3rd quarter. D Orazio & Associates Inc. now owns 1,760 shares of the company's stock valued at $333,000 after buying an additional 277 shares in the last quarter. Finally, AlphaCore Capital LLC bought a new stake in shares of Coca-Cola Consolidated during the third quarter valued at approximately $292,000. Institutional investors own 48.24% of the company's stock.

About Coca-Cola Consolidated

Coca-Cola Consolidated, Inc is the largest Coca-Cola bottler in the United States. Based in Charlotte, North Carolina, the company produces, sells, markets and distributes a broad portfolio of nonalcoholic beverages for The Coca-Cola Company and other brand owners.

Its products include Coca-Cola, Diet Coke, Coca-Cola Zero Sugar, Sprite, Fanta, DASANI, smartwater, POWERADE, Minute Maid and fairlife, along with other soft drinks, water, sports drinks, juices, dairy beverages and emerging beverage brands.

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