Coca-Cola Consolidated (NASDAQ:COKE) Stock Price Passes Above 200-Day Moving Average – Time to Sell?

Coca-Cola Consolidated, Inc. (NASDAQ:COKE) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $179.53 and traded as high as $182.63. Coca-Cola Consolidated shares last traded at $182.45, with a volume of 455,617 shares.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Coca-Cola Consolidated in a report on Wednesday, June 24th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy”.

Coca-Cola Consolidated Trading Up 3.1%

The firm has a market capitalization of $12.14 billion, a price-to-earnings ratio of 24.96 and a beta of 0.54. The company has a fifty day moving average price of $179.48 and a two-hundred day moving average price of $179.53.

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

Coca-Cola Consolidated Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 7th. Shareholders of record on Friday, July 24th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.5%. The ex-dividend date is Friday, July 24th. Coca-Cola Consolidated’s dividend payout ratio is presently 13.68%.

Institutional Trading of Coca-Cola Consolidated

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Coca-Cola Consolidated by 8.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 17,251 shares of the company’s stock valued at $23,289,000 after acquiring an additional 1,385 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its position in Coca-Cola Consolidated by 1,587.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 270 shares of the company’s stock worth $30,000 after purchasing an additional 254 shares during the last quarter. Baird Financial Group Inc. raised its stake in Coca-Cola Consolidated by 795.4% during the second quarter. Baird Financial Group Inc. now owns 9,966 shares of the company’s stock worth $1,113,000 after purchasing an additional 8,853 shares during the period. Marshall Wace LLP raised its stake in Coca-Cola Consolidated by 5,152.8% during the second quarter. Marshall Wace LLP now owns 18,910 shares of the company’s stock worth $2,111,000 after purchasing an additional 18,550 shares during the period. Finally, Cresset Asset Management LLC raised its stake in Coca-Cola Consolidated by 169.0% during the second quarter. Cresset Asset Management LLC now owns 4,589 shares of the company’s stock worth $512,000 after purchasing an additional 2,883 shares during the period. 48.24% of the stock is owned by institutional investors and hedge funds.

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.