Wall Street Zen Upgrades Coca-Cola Consolidated (NASDAQ:COKE) to Buy

Wall Street Zen upgraded shares of Coca-Cola Consolidated (NASDAQ:COKE) from a hold rating to a buy rating in a research note issued to investors on Saturday.

Coca-Cola Consolidated Price Performance

Shares of Coca-Cola Consolidated stock opened at $116.18 on Friday. Coca-Cola Consolidated has a twelve month low of $105.21 and a twelve month high of $146.09. The stock has a market capitalization of $10.13 billion, a P/E ratio of 17.34 and a beta of 0.79. The company has a current ratio of 2.04, a quick ratio of 1.78 and a debt-to-equity ratio of 0.88. The business’s fifty day moving average price is $132.68 and its 200 day moving average price is $132.90.

Coca-Cola Consolidated (NASDAQ:COKE) last issued its earnings results on Thursday, July 24th. The company reported $2.24 earnings per share for the quarter. Coca-Cola Consolidated had a return on equity of 44.91% and a net margin of 8.43%. The firm had revenue of $1.86 billion for the quarter.

Coca-Cola Consolidated Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Friday, July 25th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.86%. The ex-dividend date of this dividend is Friday, July 25th. Coca-Cola Consolidated’s dividend payout ratio (DPR) is presently 14.93%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Allianz Asset Management GmbH lifted its stake in shares of Coca-Cola Consolidated by 944.1% during the second quarter. Allianz Asset Management GmbH now owns 104,453 shares of the company’s stock worth $11,662,000 after purchasing an additional 94,449 shares in the last quarter. Patten & Patten Inc. TN lifted its stake in shares of Coca-Cola Consolidated by 898.6% during the second quarter. Patten & Patten Inc. TN now owns 2,207 shares of the company’s stock worth $246,000 after purchasing an additional 1,986 shares in the last quarter. New York State Teachers Retirement System lifted its stake in shares of Coca-Cola Consolidated by 915.5% during the second quarter. New York State Teachers Retirement System now owns 74,119 shares of the company’s stock worth $8,275,000 after purchasing an additional 66,820 shares in the last quarter. Ritholtz Wealth Management lifted its stake in shares of Coca-Cola Consolidated by 852.1% in the second quarter. Ritholtz Wealth Management now owns 20,679 shares of the company’s stock worth $2,309,000 after acquiring an additional 18,507 shares in the last quarter. Finally, Harbour Investments Inc. lifted its stake in shares of Coca-Cola Consolidated by 1,071.4% in the second quarter. Harbour Investments Inc. now owns 328 shares of the company’s stock worth $37,000 after acquiring an additional 300 shares in the last quarter. Institutional investors and hedge funds own 48.24% of the company’s stock.

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.