Coca-Cola Consolidated (NASDAQ:COKE) Shares Cross Above Two Hundred Day Moving Average – Should You Sell?

Coca-Cola Consolidated, Inc. (NASDAQ:COKE) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $1,295.53 and traded as high as $1,304.76. Coca-Cola Consolidated shares last traded at $1,298.93, with a volume of 29,634 shares traded.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered shares of Coca-Cola Consolidated from a “strong-buy” rating to a “buy” rating in a report on Wednesday, March 19th.

Coca-Cola Consolidated Stock Up 0.1 %

The firm’s 50-day moving average is $1,357.03 and its two-hundred day moving average is $1,295.53. 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 stock has a market cap of $11.32 billion, a P/E ratio of 18.60 and a beta of 0.74.

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

Coca-Cola Consolidated (NASDAQ:COKE) last issued its earnings results on Thursday, February 20th. The company reported $18.11 earnings per share (EPS) 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 business also recently announced a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Friday, January 24th were paid a $2.50 dividend. This represents a $10.00 annualized dividend and a yield of 0.77%. The ex-dividend date was Friday, January 24th. Coca-Cola Consolidated’s payout ratio is 14.32%.

Hedge Funds Weigh In On Coca-Cola Consolidated

Institutional investors have recently modified their holdings of the stock. Proficio Capital Partners LLC boosted its stake in Coca-Cola Consolidated by 197,133.5% during the 4th quarter. Proficio Capital Partners LLC now owns 453,637 shares of the company’s stock worth $571,578,000 after acquiring an additional 453,407 shares during the last quarter. Norges Bank acquired a new stake in Coca-Cola Consolidated in the fourth quarter worth $284,418,000. Estuary Capital Management LP bought a new position in shares of Coca-Cola Consolidated during the fourth quarter worth $42,845,000. Invesco Ltd. grew its holdings in shares of Coca-Cola Consolidated by 33.3% in the 4th quarter. Invesco Ltd. now owns 125,003 shares of the company’s stock valued at $157,503,000 after buying an additional 31,195 shares during the period. Finally, State Street Corp grew its holdings in shares of Coca-Cola Consolidated by 18.4% in the 3rd quarter. State Street Corp now owns 172,409 shares of the company’s stock valued at $226,959,000 after buying an additional 26,752 shares during the period. 48.24% of the stock is currently owned by institutional investors and hedge funds.

Coca-Cola Consolidated Company Profile

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.