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

Coca-Cola Consolidated (NASDAQ:COKE) released its quarterly earnings data on Wednesday. The company reported $2.11 EPS for the quarter, Zacks reports. Coca-Cola Consolidated had a net margin of 8.66% and a return on equity of 43.17%.

Coca-Cola Consolidated Trading Up 2.5%

COKE stock traded up $4.19 on Wednesday, hitting $170.29. 443,807 shares of the company were exchanged, compared to its average volume of 418,428. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.04 and a quick ratio of 1.79. The stock has a market capitalization of $14.55 billion, a price-to-earnings ratio of 24.24 and a beta of 0.64. Coca-Cola Consolidated has a twelve month low of $105.21 and a twelve month high of $170.72. The business’s fifty day moving average is $156.03 and its two-hundred day moving average is $139.67.

Coca-Cola Consolidated Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 6th. Investors of record on Friday, January 23rd were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date was Friday, January 23rd. Coca-Cola Consolidated’s payout ratio is presently 14.25%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “buy (b)” rating on shares of Coca-Cola Consolidated in a research report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy”.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Boston Partners boosted its holdings in Coca-Cola Consolidated by 3.4% in the 3rd quarter. Boston Partners now owns 2,160,088 shares of the company’s stock worth $253,207,000 after acquiring an additional 70,212 shares during the period. First Trust Advisors LP lifted its position in shares of Coca-Cola Consolidated by 42.1% during the fourth quarter. First Trust Advisors LP now owns 2,037,083 shares of the company’s stock worth $312,285,000 after purchasing an additional 603,513 shares in the last quarter. State Street Corp lifted its position in shares of Coca-Cola Consolidated by 836.9% during the second quarter. State Street Corp now owns 1,729,065 shares of the company’s stock worth $193,050,000 after purchasing an additional 1,544,516 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of Coca-Cola Consolidated by 5.9% in the fourth quarter. AQR Capital Management LLC now owns 1,450,162 shares of the company’s stock valued at $222,310,000 after purchasing an additional 80,444 shares during the period. Finally, Northern Trust Corp grew its holdings in Coca-Cola Consolidated by 3.7% during the 3rd quarter. Northern Trust Corp now owns 497,158 shares of the company’s stock valued at $58,247,000 after purchasing an additional 17,545 shares in the last quarter. Institutional investors and hedge funds own 48.24% of the company’s stock.

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.