Coca-Cola Consolidated (NASDAQ:COKE) Sets New 1-Year High at $1,307.85

Coca-Cola Consolidated, Inc. (NASDAQ:COKE) hit a new 52-week high during trading on Wednesday . The stock traded as high as $1,307.85 and last traded at $1,307.85, with a volume of 18363 shares trading hands. The stock had previously closed at $1,267.97.

Wall Street Analyst Weigh In

Separately, StockNews.com cut Coca-Cola Consolidated from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 23rd.

Coca-Cola Consolidated Stock Up 4.0 %

The firm has a 50-day moving average of $1,123.93 and a 200 day moving average of $964.55. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.97 and a quick ratio of 1.47. The stock has a market capitalization of $12.36 billion, a price-to-earnings ratio of 26.11 and a beta of 0.78.

Coca-Cola Consolidated Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 9th. Investors of record on Friday, July 26th were given a dividend of $0.50 per share. The ex-dividend date was Friday, July 26th. This represents a $2.00 annualized dividend and a yield of 0.15%. Coca-Cola Consolidated’s dividend payout ratio (DPR) is presently 4.12%.

Insider Activity at Coca-Cola Consolidated

In other news, major shareholder Cola Co Coca sold 598,619 shares of the firm’s stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $925.00, for a total value of $553,722,575.00. Following the completion of the sale, the insider now directly owns 1,883,546 shares of the company’s stock, valued at $1,742,280,050. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Institutional Trading of Coca-Cola Consolidated

A number of hedge funds have recently made changes to their positions in COKE. Norges Bank acquired a new stake in shares of Coca-Cola Consolidated in the fourth quarter valued at approximately $188,138,000. International Assets Investment Management LLC acquired a new stake in Coca-Cola Consolidated during the 4th quarter worth approximately $174,971,000. Millennium Management LLC lifted its holdings in Coca-Cola Consolidated by 1,308.6% during the 2nd quarter. Millennium Management LLC now owns 172,788 shares of the company’s stock worth $187,475,000 after purchasing an additional 160,521 shares during the last quarter. Wallace Capital Management Inc. acquired a new stake in Coca-Cola Consolidated during the 2nd quarter worth approximately $90,404,000. Finally, Vaughan Nelson Investment Management L.P. lifted its holdings in Coca-Cola Consolidated by 88.0% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 112,156 shares of the company’s stock worth $121,689,000 after purchasing an additional 52,491 shares during the last quarter. 48.24% of the stock is 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.