Coca-Cola Bottling Co. (COKE) Sees Strong Trading Volume
Coca-Cola Bottling Co. (NASDAQ:COKE) shares saw an uptick in trading volume on Friday . 180,726 shares were traded during mid-day trading, an increase of 86% from the previous session’s volume of 97,159 shares.The stock last traded at $144.61 and had previously closed at $143.94.
A number of brokerages have recently weighed in on COKE. Citigroup Inc. dropped their price objective on Coca-Cola Bottling from $190.00 to $144.00 and set a “neutral” rating for the company in a research note on Friday, May 20th. TheStreet cut Coca-Cola Bottling from a “buy” rating to a “hold” rating in a research note on Tuesday, May 24th.
The company has a 50-day moving average of $142.20 and a 200-day moving average of $155.30. The company has a market capitalization of $1.33 billion and a PE ratio of 28.32.
Coca-Cola Bottling (NASDAQ:COKE) last announced its earnings results on Tuesday, May 10th. The company reported $0.67 EPS for the quarter, missing analysts’ consensus estimates of $1.11 by $0.44. Equities analysts anticipate that Coca-Cola Bottling Co. will post $6.77 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 12th. Shareholders of record on Friday, July 29th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date is Wednesday, July 27th.
Several hedge funds and institutional investors have modified their holdings of COKE. Russell Frank Co raised its position in shares of Coca-Cola Bottling by 72.8% in the fourth quarter. Russell Frank Co now owns 26,743 shares of the company’s stock worth $4,904,000 after buying an additional 11,265 shares in the last quarter. California State Teachers Retirement System raised its position in shares of Coca-Cola Bottling by 1.5% in the fourth quarter. California State Teachers Retirement System now owns 8,638 shares of the company’s stock worth $1,577,000 after buying an additional 131 shares in the last quarter. Rhumbline Advisers raised 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 in the last quarter. New York State Common Retirement Fund raised 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 in the last quarter. Finally, Robeco Institutional Asset Management B.V. acquired a new position in shares of Coca-Cola Bottling during the fourth quarter worth $1,616,000.
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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