Coca-Cola Consolidated (NASDAQ:COKE) Stock Price Down 7.1% – Time to Sell?

Coca-Cola Consolidated, Inc. (NASDAQ:COKE)’s share price traded down 7.1% during mid-day trading on Friday . The stock traded as low as $1,344.73 and last traded at $1,339.57. 23,361 shares were traded during mid-day trading, a decline of 39% from the average session volume of 38,362 shares. The stock had previously closed at $1,442.65.

Coca-Cola Consolidated Stock Down 3.2 %

The firm has a fifty day simple moving average of $1,318.12 and a 200-day simple moving average of $1,289.45. The company has a market capitalization of $12.23 billion, a P/E ratio of 24.38 and a beta of 0.89. The company has a quick ratio of 2.15, a current ratio of 2.47 and a debt-to-equity ratio of 1.39.

Coca-Cola Consolidated (NASDAQ:COKE) last posted its quarterly earnings data on Thursday, February 20th. The company reported $18.11 earnings per share for the quarter. The company had revenue of $1.75 billion during 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 was paid on Friday, February 7th. Stockholders of record on Friday, January 24th were given a dividend of $2.50 per share. The ex-dividend date was Friday, January 24th. This represents a $10.00 annualized dividend and a dividend yield of 0.72%. Coca-Cola Consolidated’s dividend payout ratio is currently 17.40%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of COKE. Proficio Capital Partners LLC boosted 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 buying an additional 453,407 shares during the period. Norges Bank acquired a new position in shares of Coca-Cola Consolidated during the fourth quarter worth about $284,418,000. International Assets Investment Management LLC boosted its position in Coca-Cola Consolidated by 74,390.2% during the third quarter. International Assets Investment Management LLC now owns 152,705 shares of the company’s stock valued at $201,021,000 after purchasing an additional 152,500 shares during the last quarter. Estuary Capital Management LP acquired a new position in Coca-Cola Consolidated during the fourth quarter valued at approximately $42,845,000. Finally, Invesco Ltd. boosted its position in Coca-Cola Consolidated by 33.3% during the fourth quarter. Invesco Ltd. now owns 125,003 shares of the company’s stock valued at $157,503,000 after purchasing an additional 31,195 shares during the last quarter. 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.