Coca-Cola Consolidated (NASDAQ:COKE) Stock Price Down 7.4% – Here’s Why

Coca-Cola Consolidated, Inc. (NASDAQ:COKE)’s share price fell 7.4% during trading on Thursday . The company traded as low as $1,065.43 and last traded at $1,110.43. 20,132 shares traded hands during mid-day trading, a decline of 61% from the average session volume of 51,918 shares. The stock had previously closed at $1,199.57.

Coca-Cola Consolidated Trading Up 0.9 %

The stock has a market capitalization of $9.94 billion, a PE ratio of 19.74 and a beta of 0.82. The stock has a 50-day moving average price of $1,289.53 and a two-hundred day moving average price of $1,125.44. The company has a debt-to-equity ratio of 1.50, a quick ratio of 1.75 and a current ratio of 1.97.

Coca-Cola Consolidated (NASDAQ:COKE) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $18.81 earnings per share (EPS) for the quarter. Coca-Cola Consolidated had a net margin of 7.81% and a return on equity of 45.90%. The company had revenue of $1.77 billion for the quarter.

Coca-Cola Consolidated Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, October 25th will be paid a $2.50 dividend. This is a boost from Coca-Cola Consolidated’s previous quarterly dividend of $0.25. This represents a $10.00 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date of this dividend is Friday, October 25th. Coca-Cola Consolidated’s dividend payout ratio (DPR) is presently 17.40%.

Institutional Investors Weigh In On Coca-Cola Consolidated

Several large investors have recently added to or reduced their stakes in the stock. EntryPoint Capital LLC purchased a new position in Coca-Cola Consolidated during the first quarter worth $30,000. V Square Quantitative Management LLC purchased a new stake in Coca-Cola Consolidated in the 3rd quarter worth about $37,000. EverSource Wealth Advisors LLC lifted its stake in Coca-Cola Consolidated by 102.9% in the first 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. UMB Bank n.a. grew its stake in shares of Coca-Cola Consolidated by 41.9% during the third quarter. UMB Bank n.a. now owns 44 shares of the company’s stock valued at $58,000 after buying an additional 13 shares during the last quarter. Finally, Strategic Investment Solutions Inc. IL bought a new stake in shares of Coca-Cola Consolidated during the 2nd quarter worth approximately $62,000. 48.24% of the stock is owned by institutional investors.

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.