Coca-Cola Consolidated (NASDAQ:COKE) Raised to Buy at Wall Street Zen

Key Points

• Wall Street Zen has upgraded Coca-Cola Consolidated (NASDAQ:COKE) from a "hold" rating to a "buy" rating, indicating increased confidence in the stock's potential.
• Coca-Cola Consolidated's stock experienced a 6.3% increase, with shares opening at $118.80, amid strong institutional interest and significant buy activity from hedge funds.
• The company reported earnings of $2.24 EPS and revenue of $1.86 billion for the last quarter, highlighting robust financial performance with a return on equity of 46.75%.

Coca-Cola Consolidated (NASDAQ:COKE - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research report issued to clients and investors on Saturday.

Coca-Cola Consolidated Stock Down 1.2%

Shares of Coca-Cola Consolidated stock traded down $1.40 during midday trading on Friday, hitting $114.78. The company's stock had a trading volume of 600,364 shares, compared to its average volume of 633,570. The stock has a 50-day simple moving average of $132.68 and a 200-day simple moving average of $132.90. Coca-Cola Consolidated has a 1-year low of $105.21 and a 1-year high of $146.09. The firm has a market capitalization of $10.01 billion, a P/E ratio of 17.13 and a beta of 0.79. The company has a quick ratio of 1.78, a current ratio of 2.04 and a debt-to-equity ratio of 0.88.

Coca-Cola Consolidated (NASDAQ:COKE - Get Free Report) last issued its earnings results on Thursday, July 24th. The company reported $2.24 EPS for the quarter. Coca-Cola Consolidated had a return on equity of 44.91% and a net margin of 8.43%. The business had revenue of $1.86 billion during the quarter.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Harbour Investments Inc. increased its stake in shares of Coca-Cola Consolidated by 1,071.4% in the second quarter. Harbour Investments Inc. now owns 328 shares of the company's stock valued at $37,000 after buying an additional 300 shares during the period. Beacon Capital Management LLC grew its position in shares of Coca-Cola Consolidated by 905.0% in the second quarter. Beacon Capital Management LLC now owns 402 shares of the company's stock valued at $45,000 after purchasing an additional 362 shares in the last quarter. Sound Income Strategies LLC boosted its stake in Coca-Cola Consolidated by 905.0% during the second quarter. Sound Income Strategies LLC now owns 402 shares of the company's stock valued at $45,000 after buying an additional 362 shares during the period. Wayfinding Financial LLC purchased a new position in shares of Coca-Cola Consolidated in the 1st quarter worth about $46,000. Finally, Semmax Financial Advisors Inc. bought a new stake in shares of Coca-Cola Consolidated in the 1st quarter valued at about $50,000. 48.24% of the stock is owned by institutional investors and hedge funds.

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.