BidaskClub Downgrades Coca-Cola Consolidated (NASDAQ:COKE) to Sell

Coca-Cola Consolidated (NASDAQ:COKE) was downgraded by BidaskClub from a “hold” rating to a “sell” rating in a report released on Wednesday, BidAskClub reports.

Shares of Coca-Cola Consolidated stock opened at $297.20 on Wednesday. Coca-Cola Consolidated has a 12-month low of $133.01 and a 12-month high of $413.39. The stock has a market capitalization of $2.81 billion, a P/E ratio of 48.20 and a beta of 0.80. The company has a debt-to-equity ratio of 2.73, a quick ratio of 1.05 and a current ratio of 1.45. The stock has a 50-day moving average price of $306.28.

Coca-Cola Consolidated (NASDAQ:COKE) last announced its quarterly earnings results on Tuesday, May 7th. The company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.83) by $1.19. Coca-Cola Consolidated had a negative net margin of 0.27% and a positive return on equity of 12.79%. The firm had revenue of $1.10 billion for the quarter.

In other news, Director John W. Murrey III sold 1,000 shares of the stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $379.60, for a total value of $379,600.00. Following the sale, the director now directly owns 500 shares of the company’s stock, valued at $189,800. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.01% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Creative Planning raised its stake in Coca-Cola Consolidated by 2.0% in the first quarter. Creative Planning now owns 1,650 shares of the company’s stock valued at $475,000 after purchasing an additional 33 shares in the last quarter. Geode Capital Management LLC raised its stake in Coca-Cola Consolidated by 13.5% in the fourth quarter. Geode Capital Management LLC now owns 59,721 shares of the company’s stock valued at $10,593,000 after purchasing an additional 7,088 shares in the last quarter. Bank of America Corp DE raised its stake in Coca-Cola Consolidated by 5.4% in the fourth quarter. Bank of America Corp DE now owns 16,288 shares of the company’s stock valued at $2,889,000 after purchasing an additional 841 shares in the last quarter. U S Global Investors Inc. purchased a new stake in Coca-Cola Consolidated in the first quarter valued at approximately $1,389,000. Finally, Jacobs Levy Equity Management Inc. raised its stake in Coca-Cola Consolidated by 42.3% in the first quarter. Jacobs Levy Equity Management Inc. now owns 42,332 shares of the company’s stock valued at $12,184,000 after purchasing an additional 12,576 shares in the last quarter. 38.25% of the stock is currently owned by institutional investors and hedge funds.

Coca-Cola Consolidated Company Profile

Coca-Cola Consolidated, Inc, together with its subsidiaries, produces, markets, and distributes nonalcoholic beverages, primarily products of The Coca-Cola Company in the United States. The company offers sparkling beverages, including carbonated beverages; and still beverages, such as energy products, as well as noncarbonated beverages comprising bottled water, tea, ready to drink coffee, enhanced water, juices, and sports drinks.

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