Coca-Cola Consolidated (NASDAQ:COKE) Sets New 12-Month High – What’s Next?

Coca-Cola Consolidated, Inc. (NASDAQ:COKE)’s stock price reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $1,378.39 and last traded at $1,425.58, with a volume of 9308 shares. The stock had previously closed at $1,336.83.

Coca-Cola Consolidated Price Performance

The company has a 50-day simple moving average of $1,263.20 and a 200-day simple moving average of $1,242.91. The stock has a market cap of $12.24 billion, a PE ratio of 24.50 and a beta of 0.89. The company has a debt-to-equity ratio of 1.39, a current ratio of 2.47 and a quick ratio of 2.15.

Coca-Cola Consolidated (NASDAQ:COKE) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $18.81 earnings per share for the quarter. Coca-Cola Consolidated had a return on equity of 46.94% and a net margin of 7.81%. The business had revenue of $1.77 billion during the quarter.

Coca-Cola Consolidated Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, January 24th will be paid a dividend of $2.50 per share. This represents a $10.00 dividend on an annualized basis and a dividend yield of 0.72%. The ex-dividend date of this dividend is Friday, January 24th. Coca-Cola Consolidated’s payout ratio is currently 17.40%.

Institutional Trading of Coca-Cola Consolidated

A number of large investors have recently made changes to their positions in the stock. Millennium Management LLC boosted its stake in shares of Coca-Cola Consolidated by 1,308.6% during the second quarter. Millennium Management LLC now owns 172,788 shares of the company’s stock valued at $187,475,000 after acquiring an additional 160,521 shares during the last quarter. State Street Corp boosted its stake in Coca-Cola Consolidated by 18.4% in the 3rd quarter. State Street Corp now owns 172,409 shares of the company’s stock worth $226,959,000 after buying an additional 26,752 shares during the last quarter. International Assets Investment Management LLC boosted its stake in Coca-Cola Consolidated by 74,390.2% in the 3rd quarter. International Assets Investment Management LLC now owns 152,705 shares of the company’s stock worth $201,021,000 after buying an additional 152,500 shares during the last quarter. Geode Capital Management LLC boosted its stake in Coca-Cola Consolidated by 16.3% in the 3rd quarter. Geode Capital Management LLC now owns 124,456 shares of the company’s stock worth $163,868,000 after buying an additional 17,408 shares during the last quarter. Finally, Wallace Capital Management Inc. acquired a new stake in Coca-Cola Consolidated in the 2nd quarter worth about $90,404,000. Institutional investors and hedge funds own 48.24% of the company’s stock.

About Coca-Cola Consolidated

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.