Coca-Cola Consolidated (NASDAQ:COKE) Stock Price Down 5.8% – Here’s Why

Coca-Cola Consolidated, Inc. (NASDAQ:COKE)’s stock price was down 5.8% during trading on Monday . The company traded as low as $150.80 and last traded at $151.2620. Approximately 262,344 shares traded hands during mid-day trading, a decline of 53% from the average daily volume of 553,100 shares. The stock had previously closed at $160.63.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “buy (b)” rating on shares of Coca-Cola Consolidated in a report on Monday, December 22nd. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy”.

Coca-Cola Consolidated Trading Down 4.0%

The company has a market cap of $13.18 billion, a P/E ratio of 21.88 and a beta of 0.63. The company has a quick ratio of 1.79, a current ratio of 2.04 and a debt-to-equity ratio of 0.88. The firm’s 50-day moving average price is $153.02 and its 200-day moving average price is $128.99.

Coca-Cola Consolidated Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 7th. Stockholders of record on Friday, October 24th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend was Friday, October 24th. Coca-Cola Consolidated’s dividend payout ratio (DPR) is presently 14.25%.

Institutional Trading of Coca-Cola Consolidated

A number of hedge funds and other institutional investors have recently made changes to their positions in COKE. Semmax Financial Advisors Inc. bought a new position in Coca-Cola Consolidated in the 1st quarter worth about $50,000. Petrus Trust Company LTA bought a new position in shares of Coca-Cola Consolidated in the first quarter valued at approximately $248,000. Westbourne Investments Inc. bought a new position in shares of Coca-Cola Consolidated in the first quarter valued at approximately $256,000. Quarry LP purchased a new position in Coca-Cola Consolidated during the third quarter valued at approximately $25,000. Finally, Advisory Services Network LLC bought a new stake in Coca-Cola Consolidated during the 3rd quarter worth approximately $25,000. 48.24% of the stock is currently owned by institutional investors.

Coca-Cola Consolidated Company Profile

Founded in 1902 and headquartered in Charlotte, North Carolina, Coca-Cola Consolidated, Inc is the largest independent bottler of Coca-Cola products in the United States. The company manufactures, sells and distributes a broad portfolio of sparkling and still beverages under exclusive agreements with The Coca-Cola Company. Its brand lineup includes Coca-Cola, Diet Coke, Sprite and Fanta, as well as noncarbonated offerings such as Minute Maid juices, Gold Peak teas, Dasani water, Powerade sports drinks and vitaminwater.

Coca-Cola Consolidated’s operations span 14 states and the District of Columbia across the Southeastern, South Central and Mid-Atlantic regions.