Coca-Cola Consolidated (NASDAQ:COKE) Sets New 52-Week High – Here’s Why

Shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $1,146.55 and last traded at $116.01, with a volume of 44065 shares trading hands. The stock had previously closed at $1,130.24.

Analysts Set New Price Targets

Separately, Wall Street Zen cut Coca-Cola Consolidated from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 10th.

Coca-Cola Consolidated Stock Performance

The stock has a market cap of $1.01 billion, a price-to-earnings ratio of 1.66 and a beta of 0.89. The stock’s 50-day moving average is $149.02 and its 200-day moving average is $137.39. The company has a debt-to-equity ratio of 1.39, a current ratio of 2.47 and a quick ratio of 2.15.

Coca-Cola Consolidated (NASDAQ:COKE) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $1.56 EPS for the quarter. Coca-Cola Consolidated had a net margin of 9.18% and a return on equity of 49.88%. The firm had revenue of $1.58 billion for the quarter.

Coca-Cola Consolidated Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 9th. Shareholders of record on Friday, April 25th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, April 25th. This represents a $1.00 annualized dividend and a yield of 0.86%. Coca-Cola Consolidated’s payout ratio is 15.61%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Barclays PLC lifted its position in Coca-Cola Consolidated by 103.9% in the third quarter. Barclays PLC now owns 4,163 shares of the company’s stock worth $5,481,000 after purchasing an additional 2,121 shares during the period. E Fund Management Hong Kong Co. Ltd. lifted its holdings in shares of Coca-Cola Consolidated by 1,133.3% in the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 37 shares of the company’s stock valued at $47,000 after buying an additional 34 shares during the period. Blue Trust Inc. boosted its stake in Coca-Cola Consolidated by 46.0% during the fourth quarter. Blue Trust Inc. now owns 311 shares of the company’s stock valued at $409,000 after buying an additional 98 shares in the last quarter. Union Bancaire Privee UBP SA acquired a new position in Coca-Cola Consolidated during the fourth quarter worth about $882,000. Finally, Pacer Advisors Inc. raised its position in Coca-Cola Consolidated by 19.8% in the fourth quarter. Pacer Advisors Inc. now owns 1,940 shares of the company’s stock worth $2,444,000 after acquiring an additional 320 shares in the last quarter. 48.24% of the stock is currently owned by institutional investors.

Coca-Cola Consolidated Company Profile

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.