Coca-Cola Consolidated (NASDAQ:COKE) Shares Gap Up – Time to Buy?

Coca-Cola Consolidated, Inc. (NASDAQ:COKE) shares gapped up prior to trading on Friday . The stock had previously closed at $170.29, but opened at $177.83. Coca-Cola Consolidated shares last traded at $180.8380, with a volume of 26,448 shares.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “buy (b)” rating on shares of Coca-Cola Consolidated in a report on Monday, December 29th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy”.

Coca-Cola Consolidated Price Performance

The company has a debt-to-equity ratio of 0.88, a current ratio of 2.04 and a quick ratio of 1.79. The company has a market cap of $15.39 billion, a PE ratio of 26.27 and a beta of 0.64. The company has a 50-day moving average price of $156.50 and a two-hundred day moving average price of $140.14.

Coca-Cola Consolidated (NASDAQ:COKE) last released its quarterly earnings results on Wednesday, February 18th. The company reported $2.11 earnings per share for the quarter. Coca-Cola Consolidated had a return on equity of 42.08% and a net margin of 7.89%.The firm had revenue of $1.90 billion during the quarter.

Coca-Cola Consolidated Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 6th. Investors of record on Friday, January 23rd were paid a $0.25 dividend. The ex-dividend date was Friday, January 23rd. This represents a $1.00 annualized dividend and a dividend yield of 0.6%. Coca-Cola Consolidated’s payout ratio is 14.25%.

Institutional Investors Weigh In On Coca-Cola Consolidated

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its position in shares of Coca-Cola Consolidated by 6.4% in the 4th quarter. Vanguard Group Inc. now owns 5,686,058 shares of the company’s stock worth $871,673,000 after purchasing an additional 341,374 shares during the last quarter. Norges Bank acquired a new position in Coca-Cola Consolidated in the second quarter worth about $280,669,000. Boston Partners increased its holdings in Coca-Cola Consolidated by 7.8% in the fourth quarter. Boston Partners now owns 2,329,643 shares of the company’s stock valued at $357,091,000 after buying an additional 169,555 shares during the last quarter. First Trust Advisors LP raised its stake in Coca-Cola Consolidated by 42.1% during the fourth quarter. First Trust Advisors LP now owns 2,037,083 shares of the company’s stock valued at $312,285,000 after buying an additional 603,513 shares in the last quarter. Finally, State Street Corp lifted its holdings in Coca-Cola Consolidated by 836.9% during the 2nd quarter. State Street Corp now owns 1,729,065 shares of the company’s stock worth $193,050,000 after buying an additional 1,544,516 shares during the last quarter. 48.24% of the stock is currently owned by hedge funds and other institutional investors.

About Coca-Cola Consolidated

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.