Coca-Cola Consolidated (NASDAQ:COKE) Trading 7.1% Higher – What’s Next?

Coca-Cola Consolidated, Inc. (NASDAQ:COKE)’s stock price rose 7.1% on Tuesday . The company traded as high as $199.30 and last traded at $199.5660. 193,327 shares were traded during mid-day trading, a decline of 63% from the average daily volume of 524,241 shares. The stock had previously closed at $186.28.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “buy (b)” rating on shares of Coca-Cola Consolidated in a research note on Wednesday, June 24th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy”.

Coca-Cola Consolidated Price Performance

The company has a 50 day simple moving average of $181.31 and a 200-day simple moving average of $181.07. The stock has a market cap of $13.07 billion, a P/E ratio of 26.86 and a beta of 0.54.

Coca-Cola Consolidated (NASDAQ:COKE) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $1.79 earnings per share for the quarter. The company had revenue of $1.71 billion for the quarter. Coca-Cola Consolidated had a return on equity of 138.44% and a net margin of 7.72%.

Coca-Cola Consolidated Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 7th. Stockholders of record on Friday, July 24th will be issued a $0.25 dividend. The ex-dividend date is Friday, July 24th. This represents a $1.00 annualized dividend and a dividend yield of 0.5%. Coca-Cola Consolidated’s payout ratio is currently 13.68%.

Hedge Funds Weigh In On Coca-Cola Consolidated

Large investors have recently bought and sold shares of the stock. Quarry LP purchased a new stake in Coca-Cola Consolidated during the 3rd quarter valued at $25,000. Advisory Services Network LLC purchased a new stake in shares of Coca-Cola Consolidated during the third quarter worth about $25,000. Newbridge Financial Services Group Inc. grew its stake in shares of Coca-Cola Consolidated by 900.0% in the second quarter. Newbridge Financial Services Group Inc. now owns 230 shares of the company’s stock worth $26,000 after purchasing an additional 207 shares during the last quarter. Geneos Wealth Management Inc. increased its holdings in Coca-Cola Consolidated by 900.0% during the 2nd quarter. Geneos Wealth Management Inc. now owns 250 shares of the company’s stock valued at $28,000 after purchasing an additional 225 shares during the period. Finally, Torren Management LLC bought a new stake in shares of Coca-Cola Consolidated in the 4th quarter worth approximately $29,000. 48.24% of the stock is owned by hedge funds and other institutional investors.

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.