Coca-Cola Consolidated (NASDAQ:COKE) Downgraded to Buy Rating by StockNews.com

StockNews.com downgraded shares of Coca-Cola Consolidated (NASDAQ:COKE) from a strong-buy rating to a buy rating in a report released on Saturday.

Coca-Cola Consolidated Stock Performance

COKE stock opened at $1,175.34 on Friday. The company has a quick ratio of 2.15, a current ratio of 2.47 and a debt-to-equity ratio of 1.39. The company has a market capitalization of $10.25 billion, a price-to-earnings ratio of 16.83 and a beta of 0.89. Coca-Cola Consolidated has a 12 month low of $925.08 and a 12 month high of $1,460.92. The firm has a 50 day moving average of $1,316.46 and a two-hundred day moving average of $1,304.06.

Shares of Coca-Cola Consolidated are set 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 distributed to shareholders after the closing bell on Friday, May 23rd.

Coca-Cola Consolidated (NASDAQ:COKE) last posted its earnings results on Wednesday, April 30th. The company reported $15.61 EPS for the quarter. The company had revenue of $1.58 billion during the quarter. Coca-Cola Consolidated had a net margin of 9.18% and a return on equity of 49.88%.

Coca-Cola Consolidated Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 9th. Investors of record on Friday, April 25th were paid a dividend of $2.50 per share. This represents a $10.00 annualized dividend and a yield of 0.85%. The ex-dividend date of this dividend was Friday, April 25th. Coca-Cola Consolidated’s payout ratio is currently 15.61%.

Hedge Funds Weigh In On Coca-Cola Consolidated

Several large investors have recently bought and sold shares of the stock. Barclays PLC raised its stake in shares of Coca-Cola Consolidated by 103.9% in the 3rd quarter. Barclays PLC now owns 4,163 shares of the company’s stock valued at $5,481,000 after buying an additional 2,121 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of Coca-Cola Consolidated by 133.5% in the 3rd quarter. Franklin Resources Inc. now owns 9,480 shares of the company’s stock valued at $12,339,000 after buying an additional 5,420 shares in the last quarter. ST Germain D J Co. Inc. acquired a new position in shares of Coca-Cola Consolidated in the 4th quarter valued at $126,000. Signal Advisors Wealth LLC raised its stake in shares of Coca-Cola Consolidated by 27.9% in the 4th quarter. Signal Advisors Wealth LLC now owns 220 shares of the company’s stock valued at $277,000 after buying an additional 48 shares in the last quarter. Finally, Arkadios Wealth Advisors acquired a new position in shares of Coca-Cola Consolidated in the 4th quarter valued at $466,000. 48.24% of the stock is currently owned by institutional investors and hedge funds.

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.