Coca-Cola Consolidated (NASDAQ:COKE) Stock Price Up 4.5% – Time to Buy?

Coca-Cola Consolidated, Inc. (NASDAQ:COKE) rose 4.5% during mid-day trading on Friday . The stock traded as high as $176.80 and last traded at $178.01. Approximately 96,794 shares changed hands during mid-day trading, a decline of 81% from the average daily volume of 513,280 shares. The stock had previously closed at $170.27.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Coca-Cola Consolidated in a report on Friday, March 27th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy”.

Coca-Cola Consolidated Stock Performance

The firm’s 50 day simple moving average is $185.72 and its 200-day simple moving average is $175.29. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.91 and a current ratio of 1.23. The company has a market capitalization of $11.97 billion, a price-to-earnings ratio of 24.61 and a beta of 0.55.

Coca-Cola Consolidated (NASDAQ:COKE) last announced its earnings results on Wednesday, May 6th. The company reported $1.79 earnings per share (EPS) for the quarter. Coca-Cola Consolidated had a net margin of 7.72% and a return on equity of 138.44%. The company had revenue of $1.71 billion for the quarter.

Coca-Cola Consolidated Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 8th. Stockholders of record on Friday, April 24th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.6%. The ex-dividend date was Friday, April 24th. Coca-Cola Consolidated’s payout ratio is currently 13.68%.

Hedge Funds Weigh In On Coca-Cola Consolidated

Institutional investors and hedge funds have recently modified their holdings of the stock. Ascentis Independent Advisors purchased a new position in shares of Coca-Cola Consolidated during the 1st quarter valued at $31,000. Torren Management LLC purchased a new position in shares of Coca-Cola Consolidated during the 4th quarter valued at $29,000. Morse Asset Management Inc purchased a new position in shares of Coca-Cola Consolidated during the 4th quarter valued at $31,000. Quarry LP purchased a new position in shares of Coca-Cola Consolidated during the 3rd quarter valued at $25,000. Finally, Advisory Services Network LLC purchased a new position in shares of Coca-Cola Consolidated during the 3rd quarter valued at $25,000. 48.24% of the stock is currently owned by hedge funds and other institutional investors.

About Coca-Cola Consolidated

Founded in 1902 and headquartered in Charlotte, North Carolina, Coca-Cola Consolidated, Inc is the largest independent bottler of Coca-Cola products in the United States. The company manufactures, sells and distributes a broad portfolio of sparkling and still beverages under exclusive agreements with The Coca-Cola Company. Its brand lineup includes Coca-Cola, Diet Coke, Sprite and Fanta, as well as noncarbonated offerings such as Minute Maid juices, Gold Peak teas, Dasani water, Powerade sports drinks and vitaminwater.

Coca-Cola Consolidated’s operations span 14 states and the District of Columbia across the Southeastern, South Central and Mid-Atlantic regions.