Coca-Cola Consolidated (NASDAQ:COKE) Cut to Buy at StockNews.com

StockNews.com downgraded shares of Coca-Cola Consolidated (NASDAQ:COKE) from a strong-buy rating to a buy rating in a research note published on Saturday.

Coca-Cola Consolidated Stock Performance

NASDAQ:COKE opened at $1,175.34 on Friday. Coca-Cola Consolidated has a 1-year low of $925.08 and a 1-year high of $1,460.92. The company has a debt-to-equity ratio of 1.39, a current ratio of 2.47 and a quick ratio of 2.15. The firm has a 50 day simple moving average of $1,316.46 and a 200-day simple moving average of $1,304.06. The firm has a market cap of $10.25 billion, a PE ratio of 16.83 and a beta of 0.89.

Coca-Cola Consolidated shares are scheduled to split on Tuesday, May 27th. The 10-1 split was announced on Tuesday, March 4th. The newly minted shares will be issued to shareholders after the closing bell on Friday, May 23rd.

Coca-Cola Consolidated (NASDAQ:COKE) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $15.61 EPS for the quarter. Coca-Cola Consolidated had a net margin of 9.18% and a return on equity of 49.88%. The business had revenue of $1.58 billion during the quarter.

Coca-Cola Consolidated Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 9th. Investors of record on Friday, April 25th were given a $2.50 dividend. The ex-dividend date was Friday, April 25th. This represents a $10.00 annualized dividend and a yield of 0.85%. Coca-Cola Consolidated’s dividend payout ratio is presently 15.61%.

Institutional Trading of Coca-Cola Consolidated

A number of hedge funds and other institutional investors have recently made changes to their positions in COKE. Newbridge Financial Services Group Inc. bought a new stake in shares of Coca-Cola Consolidated during the 4th quarter worth about $29,000. Wayfinding Financial LLC acquired a new stake in shares of Coca-Cola Consolidated during the first quarter valued at approximately $46,000. E Fund Management Hong Kong Co. Ltd. grew its position in Coca-Cola Consolidated by 1,133.3% during the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 37 shares of the company’s stock valued at $47,000 after purchasing an additional 34 shares in the last quarter. Allworth Financial LP grew its position in Coca-Cola Consolidated by 260.0% during the fourth quarter. Allworth Financial LP now owns 36 shares of the company’s stock valued at $48,000 after purchasing an additional 26 shares in the last quarter. Finally, Wingate Wealth Advisors Inc. purchased a new position in Coca-Cola Consolidated during the fourth quarter valued at approximately $52,000. 48.24% of the stock is currently owned by institutional investors.

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.