Coca-Cola Consolidated (NASDAQ:COKE) Sets New 52-Week High – Here’s Why

Coca-Cola Consolidated, Inc. (NASDAQ:COKE) shares reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $206.50 and last traded at $207.3320, with a volume of 69406 shares trading hands. The stock had previously closed at $202.40.

Analysts Set New Price Targets

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, Based on data from MarketBeat, the company has a consensus rating of “Buy”.

Coca-Cola Consolidated Stock Performance

The company has a current ratio of 1.26, a quick ratio of 0.97 and a debt-to-equity ratio of 0.88. The company has a market cap of $13.89 billion, a PE ratio of 30.62 and a beta of 0.64. The firm’s 50-day simple moving average is $159.99 and its two-hundred day simple moving average is $143.90.

Coca-Cola Consolidated (NASDAQ:COKE) last posted its quarterly earnings data on Wednesday, February 18th. The company reported $2.11 EPS for the quarter. Coca-Cola Consolidated had a net margin of 7.89% and a return on equity of 66.42%. The business had revenue of $1.90 billion during the quarter.

Coca-Cola Consolidated Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 6th. Shareholders of record on Friday, January 23rd were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, January 23rd. This represents a $1.00 dividend on an annualized basis and a yield of 0.5%. Coca-Cola Consolidated’s payout ratio is currently 14.66%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Norges Bank purchased a new stake in Coca-Cola Consolidated in the second quarter valued at approximately $280,669,000. Boston Partners boosted its holdings in shares of Coca-Cola Consolidated by 942.2% in the 2nd quarter. Boston Partners now owns 2,089,876 shares of the company’s stock valued at $233,345,000 after acquiring an additional 1,889,358 shares during the last quarter. State Street Corp boosted its holdings in shares of Coca-Cola Consolidated by 836.9% in the 2nd quarter. State Street Corp now owns 1,729,065 shares of the company’s stock valued at $193,050,000 after acquiring an additional 1,544,516 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Coca-Cola Consolidated by 882.9% in the second quarter. Geode Capital Management LLC now owns 1,302,088 shares of the company’s stock worth $145,398,000 after acquiring an additional 1,169,611 shares during the period. Finally, AQR Capital Management LLC lifted its position in Coca-Cola Consolidated by 1,270.8% during the second quarter. AQR Capital Management LLC now owns 1,185,937 shares of the company’s stock valued at $131,906,000 after purchasing an additional 1,099,421 shares during the period. 48.24% of the stock is currently owned by hedge funds and other institutional investors.

About Coca-Cola Consolidated

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.