Coca-Cola Consolidated (NASDAQ:COKE) Stock Price Crosses Above 200 Day Moving Average – Here’s Why

Coca-Cola Consolidated, Inc. (NASDAQ:COKE) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $1,296.79 and traded as high as $1,334.30. Coca-Cola Consolidated shares last traded at $1,316.28, with a volume of 34,014 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded Coca-Cola Consolidated from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, March 11th.

Coca-Cola Consolidated Stock Performance

The firm’s 50-day moving average price is $1,354.14 and its 200 day moving average price is $1,296.79. The company has a market cap of $11.48 billion, a price-to-earnings ratio of 18.84 and a beta of 0.74. The company has a debt-to-equity ratio of 1.39, a quick ratio of 2.15 and a current ratio of 2.47.

Shares of Coca-Cola Consolidated are scheduled to split on the morning of Tuesday, May 27th. The 10-1 split was announced on Tuesday, March 4th. The newly minted shares will be distributed to shareholders after the market closes on Friday, May 23rd.

Coca-Cola Consolidated (NASDAQ:COKE) last released its quarterly earnings results on Thursday, February 20th. The company reported $18.11 earnings per share (EPS) for the quarter. Coca-Cola Consolidated had a return on equity of 49.88% and a net margin of 9.18%. The firm had revenue of $1.75 billion for the quarter.

Coca-Cola Consolidated Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Friday, January 24th were issued a $2.50 dividend. This represents a $10.00 annualized dividend and a dividend yield of 0.76%. The ex-dividend date of this dividend was Friday, January 24th. Coca-Cola Consolidated’s payout ratio is presently 14.32%.

Institutional Trading of Coca-Cola Consolidated

A number of hedge funds have recently made changes to their positions in the business. Newbridge Financial Services Group Inc. acquired a new stake in Coca-Cola Consolidated during the fourth quarter worth approximately $29,000. E Fund Management Hong Kong Co. Ltd. increased its holdings in shares of Coca-Cola Consolidated by 1,133.3% during the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 37 shares of the company’s stock worth $47,000 after buying an additional 34 shares in the last quarter. Allworth Financial LP increased its holdings in Coca-Cola Consolidated by 260.0% in the 4th quarter. Allworth Financial LP now owns 36 shares of the company’s stock worth $48,000 after purchasing an additional 26 shares in the last quarter. Wingate Wealth Advisors Inc. acquired a new position in shares of Coca-Cola Consolidated in the fourth quarter valued at approximately $52,000. Finally, Transce3nd LLC bought a new position in shares of Coca-Cola Consolidated during the fourth quarter valued at $63,000. 48.24% of the stock is owned by institutional investors and hedge funds.

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.