Coca-Cola Bottling Co. (COKE) Sees Strong Trading Volume
Coca-Cola Bottling Co. (NASDAQ:COKE) saw unusually-strong trading volume on Friday . Approximately 71,930 shares were traded during trading, a decline of 24% from the previous session’s volume of 94,682 shares.The stock last traded at $144.57 and had previously closed at $146.38.
Several research analysts have issued reports on COKE shares. Citigroup Inc. lowered their price objective on shares of Coca-Cola Bottling from $190.00 to $144.00 and set a “neutral” rating on the stock in a research report on Friday, May 20th. TheStreet downgraded shares of Coca-Cola Bottling from a “buy” rating to a “hold” rating in a report on Tuesday, May 24th.
The firm’s 50 day moving average is $135.76 and its 200 day moving average is $157.77. The stock has a market cap of $1.34 billion and a price-to-earnings ratio of 28.66.
Coca-Cola Bottling (NASDAQ:COKE) last posted its quarterly 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. On average, analysts expect that Coca-Cola Bottling Co. will post $6.77 EPS for the current year.
Other hedge funds recently bought and sold shares of the company. Dimensional Fund Advisors LP boosted its stake 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 boosted its stake 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 in the last quarter. Cornerstone Capital Management Holdings LLC. boosted its stake 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 in the last quarter. New York State Common Retirement Fund boosted its stake 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 in the last quarter. Finally, Robeco Institutional Asset Management B.V. bought a new stake in Coca-Cola Bottling during the fourth quarter valued at about $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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