StockNews.com Lowers Coca-Cola Consolidated (NASDAQ:COKE) to Buy

StockNews.com lowered shares of Coca-Cola Consolidated (NASDAQ:COKE) from a strong-buy rating to a buy rating in a research report released on Thursday.

Coca-Cola Consolidated Stock Performance

Shares of COKE stock opened at $992.65 on Thursday. The company has a market capitalization of $9.30 billion, a price-to-earnings ratio of 20.44 and a beta of 0.73. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.47 and a current ratio of 1.87. Coca-Cola Consolidated has a one year low of $614.22 and a one year high of $1,030.00. The company’s 50-day moving average is $869.79 and its 200 day moving average is $845.24.

Coca-Cola Consolidated (NASDAQ:COKE) last posted its quarterly earnings results on Monday, May 6th. The company reported $17.31 earnings per share for the quarter. Coca-Cola Consolidated had a return on equity of 42.10% and a net margin of 6.83%. The firm had revenue of $1.59 billion during the quarter.

Coca-Cola Consolidated Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 10th. Stockholders of record on Friday, April 26th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.20%. The ex-dividend date was Thursday, April 25th. Coca-Cola Consolidated’s dividend payout ratio is presently 4.12%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in COKE. Ontario Teachers Pension Plan Board boosted its stake in shares of Coca-Cola Consolidated by 295.1% in the fourth quarter. Ontario Teachers Pension Plan Board now owns 5,014 shares of the company’s stock worth $4,655,000 after acquiring an additional 3,745 shares during the period. Vanguard Group Inc. grew its holdings in Coca-Cola Consolidated by 3.5% during the 3rd quarter. Vanguard Group Inc. now owns 580,785 shares of the company’s stock valued at $369,565,000 after buying an additional 19,877 shares in the last quarter. American Century Companies Inc. raised its position in shares of Coca-Cola Consolidated by 3.8% during the third quarter. American Century Companies Inc. now owns 44,460 shares of the company’s stock valued at $28,291,000 after buying an additional 1,628 shares during the last quarter. Janney Montgomery Scott LLC lifted its holdings in shares of Coca-Cola Consolidated by 36.1% in the third quarter. Janney Montgomery Scott LLC now owns 1,173 shares of the company’s stock worth $747,000 after buying an additional 311 shares in the last quarter. Finally, Invesco Ltd. boosted its position in shares of Coca-Cola Consolidated by 4.6% during the third quarter. Invesco Ltd. now owns 114,973 shares of the company’s stock worth $73,160,000 after acquiring an additional 5,084 shares during the last quarter. Institutional investors 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.