Coca-Cola Consolidated (NASDAQ:COKE) Posts Quarterly Earnings Results

Coca-Cola Consolidated (NASDAQ:COKE) released its quarterly earnings data on Wednesday. The company reported $2.63 earnings per share for the quarter, FiscalAI reports. Coca-Cola Consolidated had a negative return on equity of 1,041.59% and a net margin of 7.15%. The business had revenue of $1.99 billion during the quarter.

Coca-Cola Consolidated Stock Performance

Shares of COKE traded down $2.20 during midday trading on Wednesday, hitting $204.06. The company had a trading volume of 708,927 shares, compared to its average volume of 521,441. Coca-Cola Consolidated has a 1 year low of $133.80 and a 1 year high of $219.65. The firm has a market capitalization of $13.58 billion, a P/E ratio of 27.06 and a beta of 0.56. The company’s 50-day simple moving average is $197.73 and its 200-day simple moving average is $186.98.

Coca-Cola Consolidated Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 6th. Stockholders of record on Friday, October 23rd will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.5%. The ex-dividend date is Friday, October 23rd. Coca-Cola Consolidated’s dividend payout ratio (DPR) is presently 13.26%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in COKE. AlphaCore Capital LLC purchased a new stake in Coca-Cola Consolidated during the third quarter worth about $292,000. Fulcrum Asset Management LLP grew its holdings in shares of Coca-Cola Consolidated by 5,292.9% in the 3rd quarter. Fulcrum Asset Management LLP now owns 755 shares of the company’s stock worth $144,000 after acquiring an additional 741 shares during the period. Hohimer Wealth Management LLC increased its stake in Coca-Cola Consolidated by 5.4% in the 3rd quarter. Hohimer Wealth Management LLC now owns 5,652 shares of the company’s stock valued at $1,070,000 after purchasing an additional 288 shares in the last quarter. Parallel Advisors LLC increased its stake in Coca-Cola Consolidated by 76.1% in the 3rd quarter. Parallel Advisors LLC now owns 1,930 shares of the company’s stock valued at $365,000 after purchasing an additional 834 shares in the last quarter. Finally, Kestra Advisory Services LLC raised its holdings in Coca-Cola Consolidated by 5.8% during the third quarter. Kestra Advisory Services LLC now owns 21,978 shares of the company’s stock worth $4,160,000 after purchasing an additional 1,206 shares during the last quarter. Hedge funds and other institutional investors own 48.24% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on COKE. Wall Street Zen lowered shares of Coca-Cola Consolidated from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Weiss Ratings upgraded shares of Coca-Cola Consolidated from a “buy (b)” rating to a “buy (b+)” rating in a report on Friday, October 16th. One analyst has rated the stock with a Buy rating. According to MarketBeat.com, the stock has an average rating of “Buy”.

Coca-Cola Consolidated Company Profile

Coca-Cola Consolidated, Inc is the largest Coca-Cola bottler in the United States. Based in Charlotte, North Carolina, the company produces, sells, markets and distributes a broad portfolio of nonalcoholic beverages for The Coca-Cola Company and other brand owners.

Its products include Coca-Cola, Diet Coke, Coca-Cola Zero Sugar, Sprite, Fanta, DASANI, smartwater, POWERADE, Minute Maid and fairlife, along with other soft drinks, water, sports drinks, juices, dairy beverages and emerging beverage brands.