Coca-Cola Consolidated (NASDAQ:COKE) Stock Price Down 7.1% – Here’s Why

Coca-Cola Consolidated, Inc. (NASDAQ:COKE) shares fell 7.1% during trading on Friday . The stock traded as low as $1,344.73 and last traded at $1,339.57. 23,361 shares traded hands during mid-day trading, a decline of 39% from the average session volume of 38,362 shares. The stock had previously closed at $1,442.65.

Coca-Cola Consolidated Stock Performance

The company has a debt-to-equity ratio of 1.39, a current ratio of 2.47 and a quick ratio of 2.15. The firm has a fifty day simple moving average of $1,320.38 and a 200 day simple moving average of $1,290.84. The company has a market capitalization of $12.11 billion, a price-to-earnings ratio of 19.80 and a beta of 0.89.

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

Coca-Cola Consolidated Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Friday, January 24th were given a dividend of $2.50 per share. The ex-dividend date of this dividend was Friday, January 24th. This represents a $10.00 dividend on an annualized basis and a yield of 0.72%. Coca-Cola Consolidated’s payout ratio is 14.32%.

Hedge Funds Weigh In On Coca-Cola Consolidated

Institutional investors have recently added to or reduced their stakes in the stock. Newbridge Financial Services Group Inc. purchased a new position in Coca-Cola Consolidated during the fourth quarter worth approximately $29,000. E Fund Management Hong Kong Co. Ltd. lifted its position in 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 lifted its position in Coca-Cola Consolidated by 260.0% during the fourth quarter. Allworth Financial LP now owns 36 shares of the company’s stock worth $48,000 after buying an additional 26 shares in the last quarter. Wingate Wealth Advisors Inc. purchased a new position in Coca-Cola Consolidated during the fourth quarter worth approximately $52,000. Finally, Transce3nd LLC purchased a new position in Coca-Cola Consolidated during the fourth quarter worth approximately $63,000. Hedge funds and other institutional investors own 48.24% of the company’s stock.

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.