Coca-Cola Consolidated (NASDAQ:COKE) Shares Pass Above 200 Day Moving Average – Time to Sell?

Shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $1,296.79 and traded as high as $1,334.30. Coca-Cola Consolidated shares last traded at $1,316.28, with a volume of 34,014 shares trading hands.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded shares of Coca-Cola Consolidated from a “strong-buy” rating to a “buy” rating in a report on Wednesday.

Coca-Cola Consolidated Stock Performance

The stock has a market cap of $11.45 billion, a P/E ratio of 18.81 and a beta of 0.74. The stock has a 50 day simple moving average of $1,355.45 and a 200 day simple moving average of $1,297.12. The company has a current ratio of 2.47, a quick ratio of 2.15 and a debt-to-equity ratio of 1.39.

Shares of Coca-Cola Consolidated are going to split on the morning of Tuesday, May 27th. The 10-1 split was announced on Tuesday, March 4th. The newly issued shares will be issued to shareholders after the market closes on Friday, May 23rd.

Coca-Cola Consolidated (NASDAQ:COKE) last announced its quarterly earnings data on Thursday, February 20th. The company reported $18.11 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 $1.75 billion during the quarter.

Coca-Cola Consolidated Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Friday, January 24th were paid a dividend of $2.50 per share. The ex-dividend date of this dividend was Friday, January 24th. This represents a $10.00 dividend on an annualized basis and a dividend yield of 0.76%. Coca-Cola Consolidated’s payout ratio is presently 14.32%.

Institutional Investors Weigh In On Coca-Cola Consolidated

Several hedge funds have recently modified their holdings of the company. Victory Capital Management Inc. boosted its stake in shares of Coca-Cola Consolidated by 105.6% during the third quarter. Victory Capital Management Inc. now owns 8,142 shares of the company’s stock valued at $10,718,000 after purchasing an additional 4,181 shares in the last quarter. Oppenheimer & Co. Inc. bought a new position in Coca-Cola Consolidated in the 3rd quarter valued at approximately $421,000. KBC Group NV boosted its position in Coca-Cola Consolidated by 87.4% during the 3rd quarter. KBC Group NV now owns 268 shares of the company’s stock worth $353,000 after buying an additional 125 shares during the period. Thrivent Financial for Lutherans grew its holdings in Coca-Cola Consolidated by 22.3% during the 3rd quarter. Thrivent Financial for Lutherans now owns 1,384 shares of the company’s stock worth $1,822,000 after acquiring an additional 252 shares during the last quarter. Finally, Quest Partners LLC raised its stake in shares of Coca-Cola Consolidated by 381.3% during the third quarter. Quest Partners LLC now owns 361 shares of the company’s stock valued at $475,000 after acquiring an additional 286 shares during the last quarter. Institutional investors and hedge funds own 48.24% of the company’s stock.

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.