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

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

Coca-Cola Consolidated Stock Down 1.0 %

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

Shares of Coca-Cola Consolidated are going to split on the morning of Tuesday, May 27th. The 10-1 split was announced on Tuesday, March 4th. The newly created shares will be issued to shareholders after the market closes on Friday, May 23rd.

Coca-Cola Consolidated (NASDAQ:COKE) last posted its quarterly earnings data on Thursday, February 20th. The company reported $18.11 EPS for the quarter. Coca-Cola Consolidated had a return on equity of 49.88% and a net margin of 9.18%. The firm had revenue of $1.75 billion for the quarter.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake 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 worth $729,428,000 after buying an additional 7,106 shares during the period. Proficio Capital Partners LLC grew its position in shares of Coca-Cola Consolidated by 197,133.5% during the fourth quarter. Proficio Capital Partners LLC now owns 453,637 shares of the company’s stock worth $571,578,000 after purchasing an additional 453,407 shares in the last quarter. Norges Bank purchased a new stake in shares of Coca-Cola Consolidated during the fourth quarter worth about $284,418,000. State Street Corp grew its position in shares of Coca-Cola Consolidated by 18.4% during the third quarter. State Street Corp now owns 172,409 shares of the company’s stock worth $226,959,000 after purchasing an additional 26,752 shares in the last quarter. Finally, FMR LLC grew 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 purchasing 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.