Coca-Cola Consolidated (NASDAQ:COKE) Trading 4.7% Higher

Shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) traded up 4.7% during trading on Friday . The stock traded as high as $1,299.92 and last traded at $1,299.92. 27,499 shares were traded during mid-day trading, a decline of 50% from the average session volume of 54,481 shares. The stock had previously closed at $1,241.38.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut Coca-Cola Consolidated from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 23rd.

Coca-Cola Consolidated Stock Up 2.7 %

The business has a 50-day simple moving average of $1,056.32 and a 200-day simple moving average of $928.64. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.47 and a current ratio of 1.87. The company has a market cap of $11.94 billion, a price-to-earnings ratio of 25.56 and a beta of 0.78.

Coca-Cola Consolidated (NASDAQ:COKE) last issued its quarterly earnings results on Monday, May 6th. The company reported $17.31 earnings per share (EPS) for the quarter. Coca-Cola Consolidated had a net margin of 7.52% and a return on equity of 42.43%. The company had revenue of $1.59 billion during the quarter.

Coca-Cola Consolidated Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 9th. Shareholders of record on Friday, July 26th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.16%. The ex-dividend date is Friday, July 26th. Coca-Cola Consolidated’s dividend payout ratio is presently 4.12%.

Insiders Place Their Bets

In other Coca-Cola Consolidated news, major shareholder Cola Co Coca sold 598,619 shares of the firm’s stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $925.00, for a total transaction of $553,722,575.00. Following the sale, the insider now owns 1,883,546 shares of the company’s stock, valued at $1,742,280,050. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Hedge Funds Weigh In On Coca-Cola Consolidated

Hedge funds have recently modified their holdings of the business. EntryPoint Capital LLC purchased a new position in Coca-Cola Consolidated during the 1st quarter worth $30,000. Quest Partners LLC acquired a new position in Coca-Cola Consolidated in the 4th quarter valued at about $31,000. EverSource Wealth Advisors LLC raised its stake in Coca-Cola Consolidated by 102.9% during the 1st quarter. EverSource Wealth Advisors LLC now owns 69 shares of the company’s stock valued at $57,000 after acquiring an additional 35 shares during the last quarter. CWM LLC lifted its position in Coca-Cola Consolidated by 22.2% during the 4th quarter. CWM LLC now owns 66 shares of the company’s stock worth $61,000 after acquiring an additional 12 shares during the period. Finally, GAMMA Investing LLC grew its stake in shares of Coca-Cola Consolidated by 137.0% in the 2nd quarter. GAMMA Investing LLC now owns 64 shares of the company’s stock valued at $69,000 after purchasing an additional 37 shares during the last quarter. 48.24% of the stock is currently owned by hedge funds and other institutional investors.

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.