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

Coca-Cola Consolidated (NASDAQ:COKE) released its quarterly earnings results on Wednesday. The company reported $1.79 earnings per share for the quarter, FiscalAI reports. Coca-Cola Consolidated had a return on equity of 77.38% and a net margin of 7.72%.The company had revenue of $1.71 billion for the quarter.

Coca-Cola Consolidated Stock Down 2.5%

Shares of NASDAQ COKE traded down $4.53 during midday trading on Friday, hitting $173.09. 587,819 shares of the stock traded hands, compared to its average volume of 489,946. The company has a market cap of $11.52 billion, a PE ratio of 23.70 and a beta of 0.61. The business has a 50 day moving average price of $198.77 and a two-hundred day moving average price of $170.21. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.97 and a current ratio of 1.26. Coca-Cola Consolidated has a one year low of $105.21 and a one year high of $219.65.

Coca-Cola Consolidated Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 8th. Shareholders of record on Friday, April 24th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend is Friday, April 24th. Coca-Cola Consolidated’s dividend payout ratio (DPR) is 13.68%.

Hedge Funds Weigh In On Coca-Cola Consolidated

Hedge funds have recently added to or reduced their stakes in the stock. Bessemer Group Inc. boosted its holdings in Coca-Cola Consolidated by 19.1% during the 1st quarter. Bessemer Group Inc. now owns 331 shares of the company’s stock worth $63,000 after acquiring an additional 53 shares during the last quarter. Beacon Pointe Advisors LLC increased its stake in Coca-Cola Consolidated by 2.6% in the 4th quarter. Beacon Pointe Advisors LLC now owns 2,842 shares of the company’s stock valued at $436,000 after buying an additional 72 shares during the last quarter. Fifth Third Bancorp grew its holdings in shares of Coca-Cola Consolidated by 16.0% in the third quarter. Fifth Third Bancorp now owns 528 shares of the company’s stock valued at $62,000 after acquiring an additional 73 shares in the last quarter. Wealthfront Advisers LLC increased its position in shares of Coca-Cola Consolidated by 4.1% during the first quarter. Wealthfront Advisers LLC now owns 1,869 shares of the company’s stock valued at $358,000 after acquiring an additional 73 shares during the last quarter. Finally, UMB Bank n.a. increased its position in shares of Coca-Cola Consolidated by 8.9% during the fourth quarter. UMB Bank n.a. now owns 951 shares of the company’s stock valued at $146,000 after acquiring an additional 78 shares during the last quarter. Institutional investors and hedge funds 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 research note on Friday, March 27th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently 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.