Coca-Cola Consolidated (NASDAQ:COKE) Lowered to Hold Rating by Wall Street Zen

Wall Street Zen cut shares of Coca-Cola Consolidated (NASDAQ:COKE) from a buy rating to a hold rating in a research report report published on Saturday.

Separately, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Coca-Cola Consolidated in a research note on Wednesday, June 24th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, Coca-Cola Consolidated has an average rating of “Buy”.

Coca-Cola Consolidated Price Performance

NASDAQ COKE opened at $192.99 on Friday. The stock’s 50 day simple moving average is $183.60 and its 200 day simple moving average is $183.22. Coca-Cola Consolidated has a one year low of $110.60 and a one year high of $219.65. The firm has a market cap of $12.85 billion, a PE ratio of 25.60 and a beta of 0.55.

Coca-Cola Consolidated (NASDAQ:COKE) last posted its quarterly earnings data 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 Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 7th. Investors of record on Friday, July 24th were issued a $0.25 dividend. 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 currently 13.26%.

Institutional Trading of Coca-Cola Consolidated

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Coca-Cola Consolidated by 6.4% in the fourth quarter. Vanguard Group Inc. now owns 5,686,058 shares of the company’s stock valued at $871,673,000 after acquiring an additional 341,374 shares during the last quarter. Horizon Investments LLC grew its holdings in Coca-Cola Consolidated by 1,655,666.7% during the 4th quarter. Horizon Investments LLC now owns 49,673 shares of the company’s stock worth $7,602,000 after acquiring an additional 49,670 shares during the period. Vest Financial LLC raised its position in shares of Coca-Cola Consolidated by 60.8% during the 4th quarter. Vest Financial LLC now owns 232,597 shares of the company’s stock valued at $35,657,000 after acquiring an additional 87,912 shares during the last quarter. James Investment Research Inc. lifted its stake in shares of Coca-Cola Consolidated by 62.2% in the 4th quarter. James Investment Research Inc. now owns 22,412 shares of the company’s stock valued at $3,436,000 after purchasing an additional 8,593 shares during the period. Finally, Walleye Capital LLC lifted its stake in shares of Coca-Cola Consolidated by 285.2% in the 1st quarter. Walleye Capital LLC now owns 86,972 shares of the company’s stock valued at $16,676,000 after purchasing an additional 64,396 shares during the period. 48.24% of the stock is owned by institutional investors.

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.