Coca-Cola Consolidated (NASDAQ:COKE) Stock Breaks Above 200-Day Moving Average – Here’s Why

Shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) crossed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $188.54 and traded as high as $190.89. Coca-Cola Consolidated shares last traded at $189.65, with a volume of 441,891 shares traded.

Wall Street Analysts Forecast Growth

COKE has been the topic of several recent analyst reports. Wall Street Zen cut shares of Coca-Cola Consolidated from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Weiss Ratings reissued a “buy (b)” rating on shares of Coca-Cola Consolidated in a report on Monday. One research analyst has rated the stock with a Buy rating, According to MarketBeat, the stock has an average rating of “Buy”.

Coca-Cola Consolidated Stock Up 0.3%

The company has a 50 day simple moving average of $189.95 and a 200-day simple moving average of $188.55. The stock has a market cap of $12.67 billion, a price-to-earnings ratio of 25.24 and a beta of 0.56.

Coca-Cola Consolidated (NASDAQ:COKE) last released its earnings results on Wednesday, August 5th. The company reported $2.83 EPS for the quarter. Coca-Cola Consolidated had a negative return on equity of 1,041.59% and a net margin of 7.15%.The company had revenue of $2.05 billion for the quarter.

Coca-Cola Consolidated Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 7th. Investors of record on Friday, July 24th were paid a dividend of $0.25 per share. The ex-dividend date was Friday, July 24th. This represents a $1.00 annualized dividend and a yield of 0.5%. Coca-Cola Consolidated’s dividend payout ratio (DPR) is 13.26%.

Institutional Trading of Coca-Cola Consolidated

Several institutional investors have recently added to or reduced their stakes in COKE. J.Safra Asset Management Corp acquired a new position in shares of Coca-Cola Consolidated in the 2nd quarter valued at about $26,000. Ascentis Independent Advisors acquired a new stake in Coca-Cola Consolidated during the first quarter worth about $31,000. Strategic Wealth Advisors LLC bought a new position in Coca-Cola Consolidated in the second quarter worth about $37,000. Ballast Advisors LLC bought a new position in Coca-Cola Consolidated in the first quarter worth about $38,000. Finally, Meeder Asset Management Inc. acquired a new position in Coca-Cola Consolidated in the second quarter valued at approximately $40,000. Institutional investors own 48.24% of the company’s stock.

Coca-Cola Consolidated Company Profile

Coca-Cola Consolidated, Inc is the largest Coca-Cola bottler in the United States. Headquartered in Charlotte, North Carolina, the company manufactures, sells, markets and distributes beverages produced under The Coca-Cola Company’s brands, as well as a selection of other beverage products.

Its portfolio includes Coca-Cola, Diet Coke, Coca-Cola Zero Sugar, Sprite, Fanta, DASANI, smartwater, Powerade, Minute Maid, Simply, fairlife and Topo Chico, along with other brands and products available in its distribution territories.