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

Coca-Cola Consolidated, Inc. (NASDAQ:COKE)’s stock price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $1,296.79 and traded as high as $1,334.30. Coca-Cola Consolidated shares last traded at $1,316.28, with a volume of 34,014 shares trading hands.

Wall Street Analyst Weigh In

Separately, StockNews.com raised Coca-Cola Consolidated from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, March 11th.

Coca-Cola Consolidated Stock Performance

The company has a quick ratio of 2.15, a current ratio of 2.47 and a debt-to-equity ratio of 1.39. The company has a 50-day moving average of $1,354.14 and a 200-day moving average of $1,296.79. The company has a market cap of $11.48 billion, a PE ratio of 18.84 and a beta of 0.74.

Shares of Coca-Cola Consolidated are set to split before the market opens on Tuesday, May 27th. The 10-1 split was announced on Tuesday, March 4th. The newly issued 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. Coca-Cola Consolidated had a net margin of 9.18% and a return on equity of 49.88%. The company had revenue of $1.75 billion for the quarter.

Coca-Cola Consolidated Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Friday, January 24th were paid a $2.50 dividend. This represents a $10.00 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date of this dividend was Friday, January 24th. Coca-Cola Consolidated’s dividend payout ratio is currently 14.32%.

Hedge Funds Weigh In On Coca-Cola Consolidated

A number of institutional investors and hedge funds have recently added to or reduced their stakes in COKE. Vanguard Group Inc. raised its position in shares of Coca-Cola Consolidated by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 578,916 shares of the company’s stock valued at $729,428,000 after purchasing an additional 7,106 shares during the period. Proficio Capital Partners LLC grew its stake in Coca-Cola Consolidated by 197,133.5% in the 4th quarter. Proficio Capital Partners LLC now owns 453,637 shares of the company’s stock valued at $571,578,000 after buying an additional 453,407 shares in the last quarter. Norges Bank purchased a new position in Coca-Cola Consolidated in the 4th quarter valued at approximately $284,418,000. State Street Corp raised its holdings in Coca-Cola Consolidated by 18.4% during the 3rd quarter. State Street Corp now owns 172,409 shares of the company’s stock valued at $226,959,000 after acquiring an additional 26,752 shares during the period. Finally, FMR LLC lifted its position in shares of Coca-Cola Consolidated by 1.6% during the fourth quarter. FMR LLC now owns 131,508 shares of the company’s stock worth $165,698,000 after acquiring an additional 2,021 shares in the last quarter. Institutional investors own 48.24% of the company’s stock.

About Coca-Cola Consolidated

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.