Coca-Cola Consolidated (NASDAQ:COKE) Announces Quarterly Earnings Results

Coca-Cola Consolidated (NASDAQ:COKE) posted its quarterly earnings data on Wednesday. The company reported $2.63 earnings per share (EPS) for the quarter, FiscalAI reports. Coca-Cola Consolidated had a negative return on equity of 102.00% and a net margin of 7.49%. The company had revenue of $1.99 billion for the quarter.

Coca-Cola Consolidated Stock Performance

Coca-Cola Consolidated stock traded down $5.61 during mid-day trading on Friday, reaching $206.89. 384,853 shares of the company were exchanged, compared to its average volume of 522,282. The firm’s 50-day simple moving average is $198.25 and its two-hundred day simple moving average is $187.55. Coca-Cola Consolidated has a twelve month low of $136.11 and a twelve month high of $219.99. The firm has a market cap of $13.77 billion, a PE ratio of 24.39 and a beta of 0.56.

Coca-Cola Consolidated Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 6th. Stockholders of record on Friday, October 23rd will be paid a dividend of $0.25 per share. The ex-dividend date is Friday, October 23rd. This represents a $1.00 annualized dividend and a dividend yield of 0.5%. Coca-Cola Consolidated’s dividend payout ratio is 13.26%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. J.Safra Asset Management Corp acquired a new position in Coca-Cola Consolidated in the second quarter valued at about $26,000. Provenance Wealth Advisors LLC bought a new stake in Coca-Cola Consolidated during the third quarter worth about $27,000. Ascentis Independent Advisors bought a new stake in Coca-Cola Consolidated during the first quarter worth about $31,000. CX Institutional grew its stake in Coca-Cola Consolidated by 122.6% during the third quarter. CX Institutional now owns 187 shares of the company’s stock worth $35,000 after buying an additional 103 shares in the last quarter. Finally, Strategic Wealth Advisors LLC acquired a new stake in Coca-Cola Consolidated during the second quarter worth about $37,000. Institutional investors and hedge funds own 48.24% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Weiss Ratings raised shares of Coca-Cola Consolidated from a “buy (b)” rating to a “buy (b+)” rating in a research note on Friday, October 16th. Wall Street Zen downgraded shares of Coca-Cola Consolidated from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. One investment analyst has rated the stock with a Buy rating. According to MarketBeat.com, the company has a consensus rating of “Buy”.

Coca-Cola Consolidated Company Profile

Coca-Cola Consolidated, Inc is the largest Coca-Cola bottler in the United States. Based in Charlotte, North Carolina, the company produces, sells, markets and distributes a broad portfolio of nonalcoholic beverages for The Coca-Cola Company and other brand owners.

Its products include Coca-Cola, Diet Coke, Coca-Cola Zero Sugar, Sprite, Fanta, DASANI, smartwater, POWERADE, Minute Maid and fairlife, along with other soft drinks, water, sports drinks, juices, dairy beverages and emerging beverage brands.