Coca-Cola Consolidated (NASDAQ:COKE) Hits New 52-Week High – What’s Next?

Shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) reached a new 52-week high on Tuesday . The company traded as high as $162.52 and last traded at $161.8350, with a volume of 137178 shares changing hands. The stock had previously closed at $159.65.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on COKE. Weiss Ratings raised shares of Coca-Cola Consolidated from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, October 8th. Wall Street Zen upgraded Coca-Cola Consolidated from a “hold” rating to a “buy” rating in a report on Saturday, July 26th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy”.

Coca-Cola Consolidated Trading Up 1.5%

The firm has a market capitalization of $13.85 billion, a P/E ratio of 23.05 and a beta of 0.69. The stock has a 50-day simple moving average of $127.80 and a two-hundred day simple moving average of $126.06. The company has a current ratio of 2.04, a quick ratio of 1.78 and a debt-to-equity ratio of 0.88.

Coca-Cola Consolidated Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 7th. Investors of record on Friday, October 24th were paid a $0.25 dividend. The ex-dividend date of this dividend was Friday, October 24th. This represents a $1.00 dividend on an annualized basis and a yield of 0.6%. Coca-Cola Consolidated’s dividend payout ratio is 14.25%.

Institutional Investors Weigh In On Coca-Cola Consolidated

Several large investors have recently modified their holdings of COKE. Norges Bank purchased a new stake in Coca-Cola Consolidated during the second quarter worth $280,669,000. Boston Partners boosted its position in Coca-Cola Consolidated by 3.4% during the third quarter. Boston Partners now owns 2,160,088 shares of the company’s stock valued at $253,207,000 after purchasing an additional 70,212 shares in the last quarter. State Street Corp grew its stake in Coca-Cola Consolidated by 836.9% in the second quarter. State Street Corp now owns 1,729,065 shares of the company’s stock valued at $193,050,000 after purchasing an additional 1,544,516 shares during the last quarter. Diversified Trust Co lifted its position in shares of Coca-Cola Consolidated by 900.0% during the second quarter. Diversified Trust Co now owns 1,462,487 shares of the company’s stock valued at $163,287,000 after buying an additional 1,316,233 shares during the last quarter. Finally, First Trust Advisors LP boosted its holdings in shares of Coca-Cola Consolidated by 119.3% in the 3rd quarter. First Trust Advisors LP now owns 1,433,570 shares of the company’s stock valued at $167,957,000 after buying an additional 779,915 shares in the last quarter. Institutional investors 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.