Coca-Cola Consolidated (NASDAQ:COKE) Shares Down 19.7% – Time to Sell?

Coca-Cola Consolidated, Inc. (NASDAQ:COKE) dropped 19.7% on Thursday . The stock traded as low as $173.02 and last traded at $169.0120. Approximately 310,222 shares traded hands during mid-day trading, a decline of 34% from the average daily volume of 467,946 shares. The stock had previously closed at $210.52.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Coca-Cola Consolidated in a research note on Friday, March 27th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, Coca-Cola Consolidated currently has an average rating of “Buy”.

Coca-Cola Consolidated Stock Down 1.9%

The company has a debt-to-equity ratio of 0.88, a current ratio of 1.23 and a quick ratio of 0.97. The firm has a 50-day simple moving average of $198.77 and a two-hundred day simple moving average of $170.21. The company has a market cap of $11.60 billion, a PE ratio of 23.85 and a beta of 0.61.

Coca-Cola Consolidated (NASDAQ:COKE) last released its quarterly earnings results on Wednesday, May 6th. The company reported $1.79 earnings per share for the quarter. The company had revenue of $1.71 billion during the quarter. Coca-Cola Consolidated had a return on equity of 138.44% and a net margin of 7.72%.

Coca-Cola Consolidated Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 8th. Shareholders of record on Friday, April 24th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, April 24th. This represents a $1.00 annualized dividend and a yield of 0.6%. Coca-Cola Consolidated’s dividend payout ratio (DPR) is presently 13.68%.

Hedge Funds Weigh In On Coca-Cola Consolidated

Several hedge funds have recently bought and sold shares of COKE. State Street Corp increased its position in Coca-Cola Consolidated by 836.9% during the second 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 in the last quarter. Norges Bank purchased a new stake in shares of Coca-Cola Consolidated in the fourth quarter valued at $222,408,000. AQR Capital Management LLC grew its position in shares of Coca-Cola Consolidated by 1,270.8% in the second quarter. AQR Capital Management LLC now owns 1,185,937 shares of the company’s stock valued at $131,906,000 after purchasing an additional 1,099,421 shares during the period. First Trust Advisors LP grew its position in shares of Coca-Cola Consolidated by 119.3% in the third quarter. First Trust Advisors LP now owns 1,433,570 shares of the company’s stock valued at $167,957,000 after purchasing an additional 779,915 shares during the period. Finally, Northwestern Mutual Wealth Management Co. grew its position in shares of Coca-Cola Consolidated by 153,487.1% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 417,757 shares of the company’s stock valued at $64,042,000 after purchasing an additional 417,485 shares during the period. Hedge funds and other institutional investors own 48.24% of the company’s stock.

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.