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

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

Coca-Cola Consolidated Price Performance

Coca-Cola Consolidated stock opened at $1,316.28 on Wednesday. The company has a fifty day simple moving average of $1,354.14 and a 200-day simple moving average of $1,296.79. 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 firm has a market capitalization of $11.48 billion, a price-to-earnings ratio of 18.84 and a beta of 0.74. Coca-Cola Consolidated has a 52-week low of $800.76 and a 52-week high of $1,460.92.

Coca-Cola Consolidated’s stock is scheduled to split on the morning of Tuesday, May 27th. The 10-1 split was announced on Tuesday, March 4th. The newly minted shares will be distributed to shareholders after the market closes on Friday, May 23rd.

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

Institutional Investors Weigh In On Coca-Cola Consolidated

Hedge funds and other institutional investors have recently bought and sold shares of the company. Newbridge Financial Services Group Inc. acquired a new position in Coca-Cola Consolidated in the 4th quarter valued at about $29,000. E Fund Management Hong Kong Co. Ltd. lifted its holdings in Coca-Cola Consolidated by 1,133.3% in the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 37 shares of the company’s stock valued at $47,000 after acquiring an additional 34 shares during the last quarter. Allworth Financial LP lifted its holdings in Coca-Cola Consolidated by 260.0% in the fourth quarter. Allworth Financial LP now owns 36 shares of the company’s stock valued at $48,000 after acquiring an additional 26 shares during the last quarter. Wingate Wealth Advisors Inc. purchased a new position in Coca-Cola Consolidated in the fourth quarter worth approximately $52,000. Finally, Transce3nd LLC acquired a new stake in Coca-Cola Consolidated during the fourth quarter worth $63,000. 48.24% of the stock is currently 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.