Coca-Cola Consolidated (NASDAQ:COKE) Stock Price Crosses Above 200 Day Moving Average – Here’s What Happened

Coca-Cola Consolidated, Inc. (NASDAQ:COKE)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $179.53 and traded as high as $182.63. Coca-Cola Consolidated shares last traded at $182.45, with a volume of 455,617 shares trading hands.

Wall Street Analyst Weigh In

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

Coca-Cola Consolidated Trading Down 0.9%

The stock has a market capitalization of $12.03 billion, a P/E ratio of 24.73 and a beta of 0.54. The business has a 50-day moving average price of $179.61 and a 200 day moving average price of $179.53.

Coca-Cola Consolidated (NASDAQ:COKE) last posted 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 net margin of 7.72% and a return on equity of 138.44%.

Coca-Cola Consolidated Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 7th. Stockholders of record on Friday, July 24th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend is Friday, July 24th. Coca-Cola Consolidated’s dividend payout ratio is presently 13.68%.

Institutional Investors Weigh In On Coca-Cola Consolidated

Several institutional investors have recently added to or reduced their stakes in COKE. Vanguard Group Inc. grew its position in Coca-Cola Consolidated by 6.4% during the 4th quarter. Vanguard Group Inc. now owns 5,686,058 shares of the company’s stock worth $871,673,000 after purchasing an additional 341,374 shares during the last quarter. Boston Partners lifted its position in Coca-Cola Consolidated by 7.8% during the 4th quarter. Boston Partners now owns 2,329,643 shares of the company’s stock worth $357,091,000 after acquiring an additional 169,555 shares during the period. First Trust Advisors LP increased its holdings in shares of Coca-Cola Consolidated by 42.1% in the fourth quarter. First Trust Advisors LP now owns 2,037,083 shares of the company’s stock valued at $312,285,000 after purchasing an additional 603,513 shares during the period. State Street Corp increased its holdings in shares of 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 period. Finally, Norges Bank purchased a new position in shares of Coca-Cola Consolidated in the fourth quarter worth about $222,408,000. Institutional investors and hedge funds own 48.24% of the company’s stock.

About Coca-Cola Consolidated

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.