Coca-Cola Consolidated (NASDAQ:COKE) Upgraded to Sell by BidaskClub

BidaskClub upgraded shares of Coca-Cola Consolidated (NASDAQ:COKE) from a strong sell rating to a sell rating in a research report released on Wednesday morning, BidAskClub reports.

Separately, ValuEngine raised shares of Coca-Cola Consolidated from a strong sell rating to a sell rating in a research note on Wednesday.

Shares of NASDAQ:COKE traded down $0.31 during trading hours on Wednesday, reaching $275.00. The stock had a trading volume of 34,000 shares, compared to its average volume of 48,058. Coca-Cola Consolidated has a 1 year low of $166.67 and a 1 year high of $413.39. The stock has a market capitalization of $2.58 billion, a price-to-earnings ratio of 27.18 and a beta of 0.64. The firm’s 50 day moving average is $284.26 and its 200-day moving average is $308.10. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.01 and a current ratio of 1.39.

Coca-Cola Consolidated (NASDAQ:COKE) last released its quarterly earnings results on Tuesday, November 5th. The company reported $3.44 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $3.56 by ($0.12). Coca-Cola Consolidated had a positive return on equity of 20.44% and a negative net margin of 0.11%. The firm had revenue of $1.27 billion for the quarter.

The business also recently announced a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Friday, October 25th were given a $0.25 dividend. The ex-dividend date of this dividend was Thursday, October 24th. This represents a $1.00 annualized dividend and a dividend yield of 0.36%.

Several institutional investors and hedge funds have recently added to or reduced their stakes in COKE. Versant Capital Management Inc increased its stake in shares of Coca-Cola Consolidated by 146.2% in the second quarter. Versant Capital Management Inc now owns 96 shares of the company’s stock worth $28,000 after buying an additional 57 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in shares of Coca-Cola Consolidated in the 2nd quarter valued at approximately $30,000. Doyle Wealth Management bought a new stake in shares of Coca-Cola Consolidated in the 2nd quarter valued at approximately $30,000. Optimum Investment Advisors bought a new stake in shares of Coca-Cola Consolidated in the 3rd quarter valued at approximately $30,000. Finally, Harvest Fund Management Co. Ltd bought a new stake in shares of Coca-Cola Consolidated in the 2nd quarter valued at approximately $42,000. 39.96% of the stock is currently owned by institutional investors and hedge funds.

Coca-Cola Consolidated Company Profile

Coca-Cola Consolidated, Inc, together with its subsidiaries, produces, markets, and distributes nonalcoholic beverages, primarily products of The Coca-Cola Company in the United States. The company offers sparkling beverages, including carbonated beverages; and still beverages, such as energy products, as well as noncarbonated beverages comprising bottled water, tea, ready to drink coffee, enhanced water, juices, and sports drinks.

Featured Article: What does an equal weight rating mean?

Receive News & Ratings for Coca-Cola Consolidated Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Coca-Cola Consolidated and related companies with MarketBeat.com's FREE daily email newsletter.