Coca-Cola Consolidated (NASDAQ:COKE) Stock Breaks Above 200 Day Moving Average – Time to Sell?

Coca-Cola Consolidated, Inc. (NASDAQ:COKE) shares passed above its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $187.87 and traded as high as $192.95. Coca-Cola Consolidated shares last traded at $192.04, with a volume of 457,905 shares traded.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on COKE. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Coca-Cola Consolidated in a research report on Monday, September 21st. Wall Street Zen lowered shares of Coca-Cola Consolidated from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, the stock has a consensus rating of “Buy”.

Coca-Cola Consolidated Stock Up 2.6%

The stock has a fifty day simple moving average of $190.76 and a 200 day simple moving average of $187.87. The firm has a market capitalization of $12.78 billion, a P/E ratio of 25.47 and a beta of 0.55.

Coca-Cola Consolidated (NASDAQ:COKE) last released its quarterly earnings data on Wednesday, August 5th. The company reported $2.83 earnings per share for the quarter. The firm had revenue of $2.05 billion during the quarter. Coca-Cola Consolidated had a negative return on equity of 1,041.59% and a net margin of 7.15%.

Coca-Cola Consolidated Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 7th. Shareholders of record on Friday, July 24th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.5%. The ex-dividend date was Friday, July 24th. Coca-Cola Consolidated’s dividend payout ratio is presently 13.26%.

Institutional Investors Weigh In On Coca-Cola Consolidated

A number of institutional investors have recently added to or reduced their stakes in the stock. Biglari Capital CORP. bought a new position in shares of Coca-Cola Consolidated during the second quarter worth $9,752,000. Ascentis Independent Advisors bought a new stake in Coca-Cola Consolidated in the 1st quarter valued at $31,000. CX Institutional increased its holdings in Coca-Cola Consolidated by 122.6% in the 3rd quarter. CX Institutional now owns 187 shares of the company’s stock valued at $35,000 after acquiring an additional 103 shares during the last quarter. Ballast Advisors LLC bought a new stake in Coca-Cola Consolidated in the 1st quarter valued at $38,000. Finally, Western Wealth Management LLC purchased a new stake in Coca-Cola Consolidated in the 1st quarter worth $44,000. 48.24% of the stock is owned by hedge funds and other institutional investors.

Coca-Cola Consolidated Company Profile

Coca-Cola Consolidated, Inc is the largest Coca-Cola bottler in the United States. Headquartered in Charlotte, North Carolina, the company manufactures, packages, distributes and sells a broad portfolio of nonalcoholic beverages, including Coca-Cola, Diet Coke, Coca-Cola Zero Sugar, Sprite, Fanta, DASANI, smartwater, POWERADE and Topo Chico, along with other brands owned or licensed by The Coca-Cola Company and additional beverage partners.

The company serves customers across a territory covering portions of the Southeast, Mid-Atlantic and Midwest, including Alabama, Florida, Georgia, Kentucky, Maryland, Mississippi, North Carolina, Ohio, Pennsylvania, South Carolina, Tennessee, Virginia and West Virginia, as well as the District of Columbia.