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

Coca-Cola Consolidated (NASDAQ:COKE) released its quarterly earnings results on Wednesday. The company reported $2.63 EPS for the quarter, FiscalAI reports. The company had revenue of $1.99 billion for the quarter. Coca-Cola Consolidated had a net margin of 7.15% and a negative return on equity of 1,041.59%.

Coca-Cola Consolidated Price Performance

COKE stock traded up $11.46 during trading on Thursday, reaching $215.64. 184,039 shares of the stock traded hands, compared to its average volume of 519,755. The firm has a market capitalization of $14.35 billion, a PE ratio of 28.80 and a beta of 0.56. The business’s 50 day moving average price is $197.89 and its 200-day moving average price is $187.24. Coca-Cola Consolidated has a 52-week low of $133.80 and a 52-week high of $219.99.

Coca-Cola Consolidated Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 6th. Shareholders of record on Friday, October 23rd will be issued a $0.25 dividend. The ex-dividend date is Friday, October 23rd. This represents a $1.00 annualized dividend and a yield of 0.5%. Coca-Cola Consolidated’s payout ratio is 13.26%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of COKE. Amundi raised its position in shares of Coca-Cola Consolidated by 85.5% during the second quarter. Amundi now owns 88,813 shares of the company’s stock valued at $16,956,000 after buying an additional 40,941 shares during the last quarter. Caisse de depot et placement du Quebec purchased a new stake in shares of Coca-Cola Consolidated in the second quarter worth about $291,152,000. Primecap Management Co. CA bought a new position in Coca-Cola Consolidated during the second quarter valued at approximately $2,861,000. Catalyst Investment Management LLC bought a new position in Coca-Cola Consolidated during the second quarter valued at approximately $573,000. Finally, Van Hulzen Asset Management LLC purchased a new position in Coca-Cola Consolidated during the 2nd quarter valued at approximately $16,491,000. Hedge funds and other institutional investors own 48.24% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on COKE shares. Weiss Ratings upgraded shares of Coca-Cola Consolidated from a “buy (b)” rating to a “buy (b+)” rating in a report on Friday, October 16th. Wall Street Zen cut Coca-Cola Consolidated from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. One analyst has rated the stock with a Buy rating. According to MarketBeat, Coca-Cola Consolidated has a consensus rating of “Buy”.

Coca-Cola Consolidated Company Profile

Coca-Cola Consolidated, Inc is the largest Coca-Cola bottler in the United States. Based in Charlotte, North Carolina, the company produces, sells, markets and distributes a broad portfolio of nonalcoholic beverages for The Coca-Cola Company and other brand owners.

Its products include Coca-Cola, Diet Coke, Coca-Cola Zero Sugar, Sprite, Fanta, DASANI, smartwater, POWERADE, Minute Maid and fairlife, along with other soft drinks, water, sports drinks, juices, dairy beverages and emerging beverage brands.