Coca-Cola Bottling Co. (COKE) Sees Strong Trading Volume
Shares of Coca-Cola Bottling Co. (NASDAQ:COKE) saw unusually-strong trading volume on Friday . Approximately 180,726 shares were traded during 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 equities analysts have commented on COKE shares. Citigroup Inc. lowered their price objective on Coca-Cola Bottling from $190.00 to $144.00 and set a “neutral” rating on the stock in a research note on Friday, May 20th. TheStreet lowered Coca-Cola Bottling from a “buy” rating to a “hold” rating in a research note on Tuesday, May 24th.
The stock’s 50-day moving average is $142.20 and its 200 day moving average is $155.30. The firm has a market cap of $1.33 billion and a P/E ratio of 28.32.
Coca-Cola Bottling (NASDAQ:COKE) last released its earnings results on Tuesday, May 10th. The company reported $0.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.11 by $0.44. Equities research analysts expect that Coca-Cola Bottling Co. will post $6.77 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 12th. Stockholders of record on Friday, July 29th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.70%. The ex-dividend date is Wednesday, July 27th.
Several institutional investors have added to or reduced their stakes in the stock. Dimensional Fund Advisors LP raised its position in Coca-Cola Bottling by 4.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 290,779 shares of the company’s stock valued at $53,070,000 after buying an additional 11,366 shares in the last quarter. Russell Frank Co increased its position in Coca-Cola Bottling by 72.8% in the fourth quarter. Russell Frank Co now owns 26,743 shares of the company’s stock valued at $4,904,000 after buying an additional 11,265 shares during the last quarter. Cornerstone Capital Management Holdings LLC. increased its position in 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 valued at $3,817,000 after buying an additional 6,364 shares during the last quarter. New York State Common Retirement Fund increased its position in 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 valued at $1,695,000 after buying an additional 3,222 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. purchased a new position in Coca-Cola Bottling during the fourth quarter valued at approximately $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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