Coca-Cola Consolidated, Inc. (NASDAQ:COKE – Get Free Report)’s stock price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $1,184.11 and last traded at $1,183.50, with a volume of 9772 shares. The stock had previously closed at $1,145.89.
Wall Street Analyst Weigh In
Separately, StockNews.com downgraded Coca-Cola Consolidated from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 23rd.
View Our Latest Analysis on COKE
Coca-Cola Consolidated Stock Performance
Coca-Cola Consolidated (NASDAQ:COKE – Get Free Report) last issued its earnings results on Monday, May 6th. The company reported $17.31 earnings per share for the quarter. The firm had revenue of $1.59 billion for the quarter. Coca-Cola Consolidated had a return on equity of 42.10% and a net margin of 6.83%.
Coca-Cola Consolidated Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 9th. Shareholders of record on Friday, July 26th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.16%. The ex-dividend date is Friday, July 26th. Coca-Cola Consolidated’s dividend payout ratio is presently 4.12%.
Insider Buying and Selling at Coca-Cola Consolidated
In related news, major shareholder Cola Co Coca sold 598,619 shares of the firm’s stock in a transaction on Friday, July 5th. The stock was sold at an average price of $925.00, for a total transaction of $553,722,575.00. Following the sale, the insider now owns 1,883,546 shares of the company’s stock, valued at approximately $1,742,280,050. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.
Institutional Investors Weigh In On Coca-Cola Consolidated
Hedge funds have recently modified their holdings of the company. EntryPoint Capital LLC bought a new position in Coca-Cola Consolidated during the 1st quarter worth $30,000. Quest Partners LLC bought a new position in Coca-Cola Consolidated during the 4th quarter worth $31,000. EverSource Wealth Advisors LLC raised its position in Coca-Cola Consolidated by 102.9% during the 1st quarter. EverSource Wealth Advisors LLC now owns 69 shares of the company’s stock worth $57,000 after purchasing an additional 35 shares during the last quarter. CWM LLC raised its position in Coca-Cola Consolidated by 22.2% during the 4th quarter. CWM LLC now owns 66 shares of the company’s stock worth $61,000 after purchasing an additional 12 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in Coca-Cola Consolidated by 137.0% during the 2nd quarter. GAMMA Investing LLC now owns 64 shares of the company’s stock worth $69,000 after purchasing an additional 37 shares during the last quarter. Institutional investors and hedge funds own 48.24% of the company’s stock.
Coca-Cola Consolidated Company Profile
Coca-Cola Consolidated, Inc, together with its subsidiaries, manufactures, markets, and distributes nonalcoholic beverages primarily products of The Coca-Cola Company in the United States. The company offers sparkling beverages; and still beverages, including energy products, as well as noncarbonated beverages comprising bottled water, ready to drink coffee and tea, enhanced water, juices, and sports drinks.
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