Coca-Cola Consolidated (NASDAQ:COKE) Shares Pass Above 200 Day Moving Average – What’s Next?

Coca-Cola Consolidated, Inc. (NASDAQ:COKE) shares passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $1,304.28 and traded as high as $1,429.45. Coca-Cola Consolidated shares last traded at $1,416.00, with a volume of 30,726 shares traded.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of Coca-Cola Consolidated from a “strong-buy” rating to a “buy” rating in a report on Wednesday, March 19th.

Coca-Cola Consolidated Price Performance

The business has a fifty day moving average of $1,358.37 and a 200-day moving average of $1,305.10. The company has a current ratio of 2.47, a quick ratio of 2.15 and a debt-to-equity ratio of 1.39. The firm has a market cap of $12.34 billion, a PE ratio of 20.27 and a beta of 0.88.

Coca-Cola Consolidated’s stock is scheduled to split before the market opens on 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 posted its earnings results on Thursday, February 20th. The company reported $18.11 earnings per share (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 for the quarter.

Coca-Cola Consolidated Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 25th will be paid a dividend of $2.50 per share. This represents a $10.00 annualized dividend and a yield of 0.71%. Coca-Cola Consolidated’s dividend payout ratio is 14.32%.

Institutional Trading of Coca-Cola Consolidated

Several institutional investors and hedge funds have recently modified their holdings of COKE. Sunbelt Securities Inc. increased its position in shares of Coca-Cola Consolidated by 10.8% in the fourth quarter. Sunbelt Securities Inc. now owns 103 shares of the company’s stock worth $128,000 after purchasing an additional 10 shares during the last quarter. CIBC Asset Management Inc grew its stake in Coca-Cola Consolidated by 5.1% in the 4th quarter. CIBC Asset Management Inc now owns 247 shares of the company’s stock worth $311,000 after buying an additional 12 shares in the last quarter. Arizona State Retirement System increased its holdings in shares of Coca-Cola Consolidated by 0.8% in the 4th quarter. Arizona State Retirement System now owns 1,575 shares of the company’s stock worth $1,984,000 after buying an additional 12 shares during the last quarter. KG&L Capital Management LLC raised its position in shares of Coca-Cola Consolidated by 2.0% during the 4th quarter. KG&L Capital Management LLC now owns 720 shares of the company’s stock valued at $907,000 after buying an additional 14 shares in the last quarter. Finally, Congress Wealth Management LLC DE lifted its holdings in shares of Coca-Cola Consolidated by 8.2% during the 4th quarter. Congress Wealth Management LLC DE now owns 184 shares of the company’s stock worth $232,000 after acquiring an additional 14 shares during the last quarter. Hedge funds and other institutional investors own 48.24% of the company’s stock.

About Coca-Cola Consolidated

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.