Coca-Cola Consolidated (NASDAQ:COKE) Rating Lowered to Buy at StockNews.com

Coca-Cola Consolidated (NASDAQ:COKE) was downgraded by equities researchers at StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Wednesday.

Coca-Cola Consolidated Trading Up 0.0 %

Coca-Cola Consolidated stock opened at $1,316.28 on Wednesday. The company has a current ratio of 2.47, a quick ratio of 2.15 and a debt-to-equity ratio of 1.39. The firm has a market cap of $11.48 billion, a PE ratio of 18.84 and a beta of 0.74. The stock’s 50 day simple moving average is $1,354.14 and its two-hundred day simple moving average is $1,296.79. Coca-Cola Consolidated has a 12 month low of $800.76 and a 12 month high of $1,460.92.

Coca-Cola Consolidated shares are going to split on Tuesday, May 27th. The 10-1 split was announced on Tuesday, March 4th. The newly minted shares will be issued to shareholders after the closing bell on Friday, May 23rd.

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

Institutional Trading of Coca-Cola Consolidated

A number of institutional investors and hedge funds have recently made changes to their positions in COKE. Proficio Capital Partners LLC grew its stake in Coca-Cola Consolidated by 197,133.5% in the 4th quarter. Proficio Capital Partners LLC now owns 453,637 shares of the company’s stock valued at $571,578,000 after acquiring an additional 453,407 shares during the period. Norges Bank acquired a new stake in shares of Coca-Cola Consolidated in the fourth quarter valued at about $284,418,000. Estuary Capital Management LP purchased a new stake in shares of Coca-Cola Consolidated during the fourth quarter worth about $42,845,000. Invesco Ltd. raised its position in shares of Coca-Cola Consolidated by 33.3% during the 4th quarter. Invesco Ltd. now owns 125,003 shares of the company’s stock worth $157,503,000 after purchasing an additional 31,195 shares during the last quarter. Finally, State Street Corp lifted 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 valued at $226,959,000 after buying an additional 26,752 shares in the last quarter. 48.24% of the stock is currently owned by hedge funds and other institutional investors.

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.