Coca-Cola Consolidated (NASDAQ:COKE) Stock Price Down 7.4% – Time to Sell?

Coca-Cola Consolidated, Inc. (NASDAQ:COKE)’s stock price was down 7.4% during trading on Thursday . The company traded as low as $1,065.43 and last traded at $1,110.43. Approximately 20,132 shares changed hands during trading, a decline of 61% from the average daily volume of 51,918 shares. The stock had previously closed at $1,199.57.

Coca-Cola Consolidated Stock Up 0.9 %

The company has a quick ratio of 1.75, a current ratio of 1.97 and a debt-to-equity ratio of 1.50. The stock has a market cap of $9.94 billion, a P/E ratio of 19.74 and a beta of 0.82. The company’s 50 day moving average price is $1,289.53 and its two-hundred day moving average price is $1,125.44.

Coca-Cola Consolidated (NASDAQ:COKE) last issued its earnings results on Wednesday, October 30th. The company reported $18.81 earnings per share for the quarter. The business had revenue of $1.77 billion during the quarter. Coca-Cola Consolidated had a return on equity of 45.90% and a net margin of 7.81%.

Coca-Cola Consolidated Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, October 25th will be given a dividend of $2.50 per share. This is an increase from Coca-Cola Consolidated’s previous quarterly dividend of $0.25. The ex-dividend date is Friday, October 25th. This represents a $10.00 dividend on an annualized basis and a yield of 0.88%. Coca-Cola Consolidated’s dividend payout ratio (DPR) is 17.40%.

Hedge Funds Weigh In On Coca-Cola Consolidated

Hedge funds and other institutional investors have recently modified their holdings of the business. Oxbow Advisors LLC purchased a new stake in Coca-Cola Consolidated during the third quarter worth $313,000. Assetmark Inc. lifted its stake in shares of Coca-Cola Consolidated by 3.6% during the 3rd quarter. Assetmark Inc. now owns 1,660 shares of the company’s stock worth $2,185,000 after purchasing an additional 57 shares during the last quarter. Summit Global Investments boosted its position in Coca-Cola Consolidated by 1.9% during the third quarter. Summit Global Investments now owns 1,414 shares of the company’s stock valued at $1,861,000 after purchasing an additional 27 shares in the last quarter. Forum Financial Management LP purchased a new position in Coca-Cola Consolidated in the third quarter valued at about $228,000. Finally, Van ECK Associates Corp raised its holdings in Coca-Cola Consolidated by 40.0% in the third quarter. Van ECK Associates Corp now owns 3,014 shares of the company’s stock worth $3,839,000 after purchasing an additional 861 shares in the last quarter. 48.24% of the stock is currently owned by 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.