Coca-Cola Consolidated (NASDAQ:COKE) Share Price Breaks Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• Coca-Cola Consolidated shares rose 1.2% and briefly reached $190.89, moving above their 200-day moving average of $188.54.
• Analyst sentiment remains broadly positive, with the stock holding an average “Buy” rating despite one recent downgrade to “Hold.”
• The company reported quarterly revenue of $2.05 billion and earnings of $2.83 per share, while maintaining a quarterly dividend of $0.25, equivalent to a 0.5% yield.

Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Get Free Report)'s stock price passed above its two hundred day moving average during trading on Thursday. The stock has a two hundred day moving average of $188.54 and traded as high as $190.89. Coca-Cola Consolidated shares last traded at $189.65, with a volume of 441,891 shares.

Analyst Upgrades and Downgrades

COKE has been the subject of several recent research reports. Wall Street Zen downgraded Coca-Cola Consolidated from a "buy" rating to a "hold" rating in a report on Saturday, August 8th. Weiss Ratings reiterated a "buy (b)" rating on shares of Coca-Cola Consolidated in a report on Monday. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Coca-Cola Consolidated currently has an average rating of "Buy".

Coca-Cola Consolidated Stock Up 1.2%

The company has a market capitalization of $12.62 billion, a P/E ratio of 25.15 and a beta of 0.56. The firm's 50-day moving average price is $189.76 and its 200 day moving average price is $188.54.

Coca-Cola Consolidated (NASDAQ:COKE - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $2.83 earnings per share for the quarter. The business had revenue of $2.05 billion for 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 Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 7th. Stockholders of record on Friday, July 24th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date was Friday, July 24th. Coca-Cola Consolidated's dividend payout ratio (DPR) is currently 13.26%.

Institutional Investors Weigh In On Coca-Cola Consolidated

Several institutional investors have recently bought and sold shares of COKE. Amundi raised its stake in shares of Coca-Cola Consolidated by 85.5% during the 2nd quarter. Amundi now owns 88,813 shares of the company's stock valued at $16,956,000 after purchasing an additional 40,941 shares during the period. Primecap Management Co. CA bought a new position in Coca-Cola Consolidated in the 2nd quarter worth about $2,861,000. Caisse de depot et placement du Quebec purchased a new position in Coca-Cola Consolidated during the 2nd quarter valued at about $291,152,000. Catalyst Investment Management LLC purchased a new position in Coca-Cola Consolidated during the 2nd quarter valued at about $573,000. Finally, Van Hulzen Asset Management LLC bought a new stake in shares of Coca-Cola Consolidated during the second quarter valued at about $16,491,000. Institutional investors own 48.24% of the company's stock.

Coca-Cola Consolidated Company Profile

Coca-Cola Consolidated, Inc is the largest Coca-Cola bottler in the United States. Headquartered in Charlotte, North Carolina, the company manufactures, sells, markets and distributes beverages produced under The Coca-Cola Company's brands, as well as a selection of other beverage products.

Its portfolio includes Coca-Cola, Diet Coke, Coca-Cola Zero Sugar, Sprite, Fanta, DASANI, smartwater, Powerade, Minute Maid, Simply, fairlife and Topo Chico, along with other brands and products available in its distribution territories.

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