Coca-Cola Consolidated (NASDAQ:COKE) Announces Quarterly Earnings Results

Coca-Cola Consolidated (NASDAQ:COKE) posted its quarterly earnings results on Wednesday. The company reported $2.11 earnings per share (EPS) for the quarter, Zacks reports. Coca-Cola Consolidated had a net margin of 8.66% and a return on equity of 43.17%.

Coca-Cola Consolidated Trading Up 2.5%

COKE traded up $4.19 during mid-day trading on Wednesday, hitting $170.29. 443,868 shares of the stock were exchanged, compared to its average volume of 418,469. Coca-Cola Consolidated has a 1-year low of $105.21 and a 1-year high of $170.72. The firm’s fifty day moving average is $156.03 and its two-hundred day moving average is $139.67. The company has a market cap of $14.55 billion, a PE ratio of 24.24 and a beta of 0.64. The company has a current ratio of 2.04, a quick ratio of 1.79 and a debt-to-equity ratio of 0.88.

Coca-Cola Consolidated Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 6th. Investors of record on Friday, January 23rd were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.6%. The ex-dividend date was Friday, January 23rd. Coca-Cola Consolidated’s payout ratio is currently 14.25%.

Institutional Trading of Coca-Cola Consolidated

A number of large investors have recently modified their holdings of the stock. Boston Partners grew its stake in Coca-Cola Consolidated by 3.4% during the 3rd quarter. Boston Partners now owns 2,160,088 shares of the company’s stock worth $253,207,000 after buying an additional 70,212 shares during the last quarter. First Trust Advisors LP boosted its stake in shares of Coca-Cola Consolidated by 42.1% during the fourth quarter. First Trust Advisors LP now owns 2,037,083 shares of the company’s stock worth $312,285,000 after buying an additional 603,513 shares during the period. State Street Corp increased its position in Coca-Cola Consolidated by 836.9% in the 2nd quarter. State Street Corp now owns 1,729,065 shares of the company’s stock valued at $193,050,000 after acquiring an additional 1,544,516 shares during the period. AQR Capital Management LLC raised its stake in Coca-Cola Consolidated by 5.9% during the 4th quarter. AQR Capital Management LLC now owns 1,450,162 shares of the company’s stock valued at $222,310,000 after acquiring an additional 80,444 shares during the last quarter. Finally, Northern Trust Corp grew its stake in shares of Coca-Cola Consolidated by 3.7% in the 3rd quarter. Northern Trust Corp now owns 497,158 shares of the company’s stock valued at $58,247,000 after purchasing an additional 17,545 shares during the last quarter. Hedge funds and other institutional investors own 48.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “buy (b)” rating on shares of Coca-Cola Consolidated in a report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy”.

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.