Coca-Cola Consolidated (NASDAQ:COKE) Sets New 12-Month High – What’s Next?

Coca-Cola Consolidated, Inc. (NASDAQ:COKE)’s stock price hit a new 52-week high during mid-day trading on Friday . The company traded as high as $1,378.39 and last traded at $1,425.58, with a volume of 9308 shares traded. The stock had previously closed at $1,336.83.

Coca-Cola Consolidated Trading Up 4.6 %

The stock has a market capitalization of $12.24 billion, a price-to-earnings ratio of 24.50 and a beta of 0.89. The company has a current ratio of 2.47, a quick ratio of 2.15 and a debt-to-equity ratio of 1.39. The business has a 50 day simple moving average of $1,263.20 and a 200-day simple moving average of $1,242.91.

Coca-Cola Consolidated (NASDAQ:COKE) last released its quarterly earnings data on Wednesday, October 30th. The company reported $18.81 earnings per share for the quarter. The business had revenue of $1.77 billion for the quarter. Coca-Cola Consolidated had a return on equity of 46.94% and a net margin of 7.81%.

Coca-Cola Consolidated Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, January 24th will be paid a $2.50 dividend. This represents a $10.00 annualized dividend and a dividend yield of 0.72%. The ex-dividend date is Friday, January 24th. Coca-Cola Consolidated’s dividend payout ratio is currently 17.40%.

Hedge Funds Weigh In On Coca-Cola Consolidated

Several hedge funds and other institutional investors have recently modified their holdings of the company. UMB Bank n.a. raised its holdings in shares of Coca-Cola Consolidated by 41.9% during the 3rd quarter. UMB Bank n.a. now owns 44 shares of the company’s stock valued at $58,000 after buying an additional 13 shares during the period. Sunbelt Securities Inc. raised its holdings in shares of Coca-Cola Consolidated by 16.3% during the 3rd quarter. Sunbelt Securities Inc. now owns 93 shares of the company’s stock valued at $122,000 after buying an additional 13 shares during the period. GAMMA Investing LLC raised its holdings in shares of Coca-Cola Consolidated by 16.9% during the 4th quarter. GAMMA Investing LLC now owns 104 shares of the company’s stock valued at $131,000 after buying an additional 15 shares during the period. Bank of Montreal Can raised its holdings in shares of Coca-Cola Consolidated by 1.8% during the 2nd quarter. Bank of Montreal Can now owns 1,028 shares of the company’s stock valued at $1,120,000 after buying an additional 18 shares during the period. Finally, Summit Global Investments raised its holdings in shares of Coca-Cola Consolidated by 1.9% during the 3rd quarter. Summit Global Investments now owns 1,414 shares of the company’s stock valued at $1,861,000 after buying an additional 27 shares during the period. 48.24% of the stock is owned by institutional investors and hedge funds.

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.