Coca-Cola Bottling Co. (COKE) Shares Up 1.7%
Coca-Cola Bottling Co. (NASDAQ:COKE) shot up 1.7% during mid-day trading on Tuesday . The stock traded as high as $147.91 and last traded at $147.15, with a volume of 74,338 shares traded. The stock had previously closed at $144.69.
Several brokerages have recently issued reports on COKE. TheStreet downgraded shares of Coca-Cola Bottling from a “buy” rating to a “hold” rating in a research report on Tuesday, May 24th. Citigroup Inc. lowered their price objective on shares of Coca-Cola Bottling from $190.00 to $144.00 and set a “neutral” rating for the company in a research report on Friday, May 20th.
The firm has a market capitalization of $1.37 billion and a price-to-earnings ratio of 29.22. The firm’s 50-day moving average price is $136.90 and its 200-day moving average price is $156.85.
Coca-Cola Bottling (NASDAQ:COKE) last posted its earnings results on Tuesday, May 10th. The company reported $0.67 EPS for the quarter, missing the consensus estimate of $1.11 by $0.44. On average, analysts forecast that Coca-Cola Bottling Co. will post $6.77 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, August 12th. Stockholders of record on Friday, July 29th will be given a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, July 27th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.69%.
Several hedge funds and institutional investors have recently modified their holdings of COKE. Dimensional Fund Advisors LP increased its position in shares of Coca-Cola Bottling by 4.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 290,779 shares of the company’s stock worth $53,070,000 after buying an additional 11,366 shares during the period. Cornerstone Capital Management Holdings LLC. increased its position in shares of Coca-Cola Bottling by 43.7% in the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 20,914 shares of the company’s stock worth $3,817,000 after buying an additional 6,364 shares during the period. Robeco Institutional Asset Management B.V. purchased a new position in shares of Coca-Cola Bottling during the fourth quarter worth about $1,616,000. New York State Common Retirement Fund increased its position in shares of Coca-Cola Bottling by 53.1% in the fourth quarter. New York State Common Retirement Fund now owns 9,286 shares of the company’s stock worth $1,695,000 after buying an additional 3,222 shares during the period. Finally, Rhumbline Advisers increased its position in shares of Coca-Cola Bottling by 1.2% in the fourth quarter. Rhumbline Advisers now owns 6,520 shares of the company’s stock worth $1,190,000 after buying an additional 80 shares during the period.
Coca-Cola Bottling Co Consolidated produces, markets and distributes nonalcoholic beverages, primarily products of The Coca-Cola Company, which include beverage brands. The Company is an independent Coca-Cola bottler in the United States. The Company’s segments are Nonalcoholic Beverages and All Other.
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