Coca-Cola Consolidated (NASDAQ:COKE) Reaches New 12-Month High – What’s Next?

Coca-Cola Consolidated, Inc. (NASDAQ:COKE)’s share price hit a new 52-week high during mid-day trading on Friday . The company traded as high as $167.02 and last traded at $167.0050, with a volume of 29318 shares. The stock had previously closed at $165.71.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised Coca-Cola Consolidated from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, October 8th. 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 Price Performance

The business has a fifty day moving average of $139.57 and a 200 day moving average of $130.14. The firm has a market cap of $14.24 billion, a P/E ratio of 23.75 and a beta of 0.63. The company has a quick ratio of 1.79, a current ratio of 2.04 and a debt-to-equity ratio of 0.88.

Coca-Cola Consolidated Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 7th. Stockholders of record on Friday, October 24th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.6%. The ex-dividend date was Friday, October 24th. Coca-Cola Consolidated’s payout ratio is currently 14.25%.

Institutional Investors Weigh In On Coca-Cola Consolidated

Several hedge funds have recently added to or reduced their stakes in the business. Avantax Advisory Services Inc. increased its holdings in shares of Coca-Cola Consolidated by 18.5% in the first quarter. Avantax Advisory Services Inc. now owns 237 shares of the company’s stock valued at $319,000 after purchasing an additional 37 shares during the last quarter. Cetera Investment Advisers boosted its holdings in shares of Coca-Cola Consolidated by 1.6% during the 1st quarter. Cetera Investment Advisers now owns 1,806 shares of the company’s stock worth $2,439,000 after buying an additional 28 shares during the period. LPL Financial LLC boosted its holdings in shares of Coca-Cola Consolidated by 3.8% during the 1st quarter. LPL Financial LLC now owns 5,324 shares of the company’s stock worth $7,187,000 after buying an additional 197 shares during the period. Bank of Nova Scotia acquired a new position in Coca-Cola Consolidated in the 1st quarter valued at about $1,202,000. Finally, ING Groep NV bought a new position in Coca-Cola Consolidated in the 1st quarter valued at about $1,080,000. Institutional investors and hedge funds own 48.24% of the company’s stock.

About Coca-Cola Consolidated

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.