Coca-Cola Consolidated (NASDAQ:COKE) Hits New 12-Month High – Here’s Why

Shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) reached a new 52-week high during trading on Monday . The stock traded as high as $206.50 and last traded at $207.3320, with a volume of 69406 shares traded. The stock had previously closed at $202.40.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “buy (b)” rating on shares of Coca-Cola Consolidated in a research note on Monday, December 29th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy”.

Coca-Cola Consolidated Price Performance

The company has a market cap of $13.63 billion, a price-to-earnings ratio of 30.04 and a beta of 0.60. The company’s 50-day simple moving average is $161.64 and its 200-day simple moving average is $145.19. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.26 and a quick ratio of 0.97.

Coca-Cola Consolidated (NASDAQ:COKE) last announced its earnings results on Wednesday, February 18th. The company reported $2.11 earnings per share for the quarter. Coca-Cola Consolidated had a net margin of 7.89% and a return on equity of 66.42%. The business had revenue of $1.90 billion during the quarter.

Coca-Cola Consolidated Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 6th. Stockholders of record on Friday, January 23rd were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend was Friday, January 23rd. Coca-Cola Consolidated’s payout ratio is presently 14.66%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Quarry LP acquired a new position in shares of Coca-Cola Consolidated in the 3rd quarter valued at approximately $25,000. Advisory Services Network LLC bought a new stake in shares of Coca-Cola Consolidated in the third quarter worth $25,000. Nomura Asset Management Co. Ltd. raised its holdings in Coca-Cola Consolidated by 900.0% in the second quarter. Nomura Asset Management Co. Ltd. now owns 230 shares of the company’s stock valued at $26,000 after acquiring an additional 207 shares in the last quarter. Root Financial Partners LLC bought a new position in Coca-Cola Consolidated during the 3rd quarter valued at $26,000. Finally, Smartleaf Asset Management LLC grew its holdings in Coca-Cola Consolidated by 175.0% during the 3rd quarter. Smartleaf Asset Management LLC now owns 220 shares of the company’s stock worth $26,000 after acquiring an additional 140 shares in the last quarter. 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.