Coca-Cola Consolidated (NASDAQ:COKE) Reaches New 12-Month High – Time to Buy?

Coca-Cola Consolidated, Inc. (NASDAQ:COKE) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $188.11 and last traded at $185.30, with a volume of 498417 shares changing hands. The stock had previously closed at $182.22.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “buy (b)” rating on shares of Coca-Cola Consolidated in a research report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy”.

Coca-Cola Consolidated Price Performance

The stock has a fifty day moving average of $157.22 and a 200-day moving average of $141.52. The firm has a market capitalization of $15.83 billion, a P/E ratio of 27.18 and a beta of 0.64. The company has a quick ratio of 0.97, a current ratio of 1.26 and a debt-to-equity ratio of 0.88.

Coca-Cola Consolidated (NASDAQ:COKE) last posted its quarterly earnings data on Wednesday, February 18th. The company reported $2.11 earnings per share for the quarter. Coca-Cola Consolidated had a net margin of 7.89% and a return on equity of 66.42%. The firm had revenue of $1.90 billion during the quarter.

Coca-Cola Consolidated Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 6th. Shareholders of record on Friday, January 23rd were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, January 23rd. This represents a $1.00 annualized dividend and a yield of 0.5%. Coca-Cola Consolidated’s dividend payout ratio is currently 14.66%.

Institutional Investors Weigh In On Coca-Cola Consolidated

Hedge funds and other institutional investors have recently made changes to their positions in the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Coca-Cola Consolidated by 8.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 17,251 shares of the company’s stock valued at $23,289,000 after acquiring an additional 1,385 shares during the last quarter. Ethic Inc. raised its holdings in Coca-Cola Consolidated by 925.9% during the 2nd quarter. Ethic Inc. now owns 8,659 shares of the company’s stock worth $965,000 after purchasing an additional 7,815 shares during the last quarter. AlphaQuest LLC lifted its position in Coca-Cola Consolidated by 1,262.9% during the 2nd quarter. AlphaQuest LLC now owns 1,908 shares of the company’s stock valued at $213,000 after purchasing an additional 1,768 shares during the period. State of New Jersey Common Pension Fund D boosted its stake in shares of Coca-Cola Consolidated by 900.0% in the 2nd quarter. State of New Jersey Common Pension Fund D now owns 17,360 shares of the company’s stock valued at $1,938,000 after purchasing an additional 15,624 shares during the last quarter. Finally, Leavell Investment Management Inc. grew its position in shares of Coca-Cola Consolidated by 898.2% during the 2nd quarter. Leavell Investment Management Inc. now owns 2,166 shares of the company’s stock worth $242,000 after buying an additional 1,949 shares during the period. 48.24% of the stock is owned by institutional investors and hedge funds.

Coca-Cola Consolidated Company Profile

Founded in 1902 and headquartered in Charlotte, North Carolina, Coca-Cola Consolidated, Inc is the largest independent bottler of Coca-Cola products in the United States. The company manufactures, sells and distributes a broad portfolio of sparkling and still beverages under exclusive agreements with The Coca-Cola Company. Its brand lineup includes Coca-Cola, Diet Coke, Sprite and Fanta, as well as noncarbonated offerings such as Minute Maid juices, Gold Peak teas, Dasani water, Powerade sports drinks and vitaminwater.

Coca-Cola Consolidated’s operations span 14 states and the District of Columbia across the Southeastern, South Central and Mid-Atlantic regions.