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

Coca-Cola Consolidated (NASDAQ:COKE) was downgraded by investment analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a report issued on Wednesday.

Coca-Cola Consolidated Price Performance

COKE opened at $1,313.61 on Wednesday. The company has a debt-to-equity ratio of 1.39, a quick ratio of 2.15 and a current ratio of 2.47. Coca-Cola Consolidated has a 52-week low of $800.76 and a 52-week high of $1,460.92. The stock has a market capitalization of $11.45 billion, a PE ratio of 18.81 and a beta of 0.74. The stock’s 50 day moving average price is $1,355.45 and its 200-day moving average price is $1,297.12.

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

Coca-Cola Consolidated (NASDAQ:COKE) last issued its quarterly earnings results on Thursday, February 20th. The company reported $18.11 earnings per share for the quarter. The company 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%.

Institutional Investors Weigh In On Coca-Cola Consolidated

Several hedge funds and other institutional investors have recently added to or reduced their stakes in COKE. James Investment Research Inc. lifted its holdings in shares of Coca-Cola Consolidated by 34.7% during the fourth quarter. James Investment Research Inc. now owns 1,825 shares of the company’s stock valued at $2,299,000 after purchasing an additional 470 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Coca-Cola Consolidated by 8.2% during the third quarter. JPMorgan Chase & Co. now owns 19,173 shares of the company’s stock valued at $25,239,000 after purchasing an additional 1,453 shares in the last quarter. CIBC Asset Management Inc lifted its holdings in shares of Coca-Cola Consolidated by 5.1% during the fourth quarter. CIBC Asset Management Inc now owns 247 shares of the company’s stock valued at $311,000 after purchasing an additional 12 shares in the last quarter. Quadrature Capital Ltd bought a new position in Coca-Cola Consolidated in the third quarter valued at about $1,022,000. Finally, Dorsey Wright & Associates bought a new position in Coca-Cola Consolidated in the third quarter valued at about $1,468,000. 48.24% of the stock is owned by hedge funds and other institutional investors.

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.