Coca-Cola Consolidated (NASDAQ:COKE) Cut to Hold at Wall Street Zen

Wall Street Zen downgraded shares of Coca-Cola Consolidated (NASDAQ:COKE) from a buy rating to a hold rating in a research report report published on Saturday morning.

Separately, Weiss Ratings reiterated a “buy (b)” rating on shares of Coca-Cola Consolidated in a research note on Wednesday, June 24th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, Coca-Cola Consolidated currently has a consensus rating of “Buy”.

Coca-Cola Consolidated Stock Down 3.9%

Shares of NASDAQ COKE opened at $185.55 on Friday. Coca-Cola Consolidated has a 52 week low of $110.60 and a 52 week high of $219.65. The business’s 50 day moving average price is $183.87 and its 200 day moving average price is $183.67. The firm has a market cap of $12.35 billion, a P/E ratio of 24.61 and a beta of 0.55.

Coca-Cola Consolidated (NASDAQ:COKE) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $2.83 earnings per share (EPS) for the quarter. Coca-Cola Consolidated had a net margin of 7.15% and a negative return on equity of 1,041.59%. The company had revenue of $2.05 billion during the quarter.

Coca-Cola Consolidated Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 7th. Stockholders of record on Friday, July 24th were paid a $0.25 dividend. The ex-dividend date was Friday, July 24th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.5%. Coca-Cola Consolidated’s dividend payout ratio is presently 13.26%.

Institutional Trading of Coca-Cola Consolidated

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Quarry LP acquired a new position in Coca-Cola Consolidated in the third quarter valued at approximately $25,000. Advisory Services Network LLC acquired a new stake in shares of Coca-Cola Consolidated during the 3rd quarter worth approximately $25,000. J.Safra Asset Management Corp purchased a new position in shares of Coca-Cola Consolidated during the 2nd quarter valued at approximately $26,000. Newbridge Financial Services Group Inc. increased its holdings in shares of Coca-Cola Consolidated by 900.0% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 230 shares of the company’s stock valued at $26,000 after purchasing an additional 207 shares in the last quarter. Finally, Geneos Wealth Management Inc. lifted its stake in shares of Coca-Cola Consolidated by 900.0% in the 2nd quarter. Geneos Wealth Management Inc. now owns 250 shares of the company’s stock valued at $28,000 after purchasing an additional 225 shares during the period. 48.24% of the stock is owned by institutional investors and hedge funds.

Coca-Cola Consolidated Company Profile

Founded in 1902 and headquartered in Charlotte, North Carolina, Coca-Cola Consolidated, Inc is the largest independent bottler of Coca-Cola products in the United States. The company manufactures, sells and distributes a broad portfolio of sparkling and still beverages under exclusive agreements with The Coca-Cola Company. Its brand lineup includes Coca-Cola, Diet Coke, Sprite and Fanta, as well as noncarbonated offerings such as Minute Maid juices, Gold Peak teas, Dasani water, Powerade sports drinks and vitaminwater.

Coca-Cola Consolidated’s operations span 14 states and the District of Columbia across the Southeastern, South Central and Mid-Atlantic regions.