Coca-Cola Consolidated (NASDAQ:COKE) Announces Quarterly Earnings Results

Coca-Cola Consolidated (NASDAQ:COKE) released its quarterly earnings data on Wednesday. The company reported $18.81 earnings per share (EPS) for the quarter, reports. Coca-Cola Consolidated had a return on equity of 45.90% and a net margin of 7.81%. The firm had revenue of $1.77 billion during the quarter.

Coca-Cola Consolidated Trading Up 0.9 %

Shares of COKE stock opened at $1,134.38 on Friday. Coca-Cola Consolidated has a fifty-two week low of $628.00 and a fifty-two week high of $1,376.84. The stock has a market cap of $9.94 billion, a P/E ratio of 19.74 and a beta of 0.82. The business has a fifty day simple moving average of $1,289.53 and a 200-day simple moving average of $1,125.44. The company has a quick ratio of 1.75, a current ratio of 1.97 and a debt-to-equity ratio of 1.50.

Coca-Cola Consolidated Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Friday, October 25th will be given a $2.50 dividend. The ex-dividend date is Friday, October 25th. This represents a $10.00 dividend on an annualized basis and a dividend yield of 0.88%. This is a boost from Coca-Cola Consolidated’s previous quarterly dividend of $0.25. Coca-Cola Consolidated’s dividend payout ratio (DPR) is currently 17.40%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in COKE. State of Michigan Retirement System increased its position in shares of Coca-Cola Consolidated by 9.1% in the first quarter. State of Michigan Retirement System now owns 1,200 shares of the company’s stock valued at $1,016,000 after buying an additional 100 shares in the last quarter. Private Advisor Group LLC increased its position in Coca-Cola Consolidated by 5.2% during the 1st quarter. Private Advisor Group LLC now owns 782 shares of the company’s stock worth $662,000 after purchasing an additional 39 shares in the last quarter. Flynn Zito Capital Management LLC purchased a new stake in Coca-Cola Consolidated during the 1st quarter worth about $1,328,000. BNP Paribas Financial Markets increased its position in Coca-Cola Consolidated by 27.7% during the 1st quarter. BNP Paribas Financial Markets now owns 6,366 shares of the company’s stock worth $5,388,000 after purchasing an additional 1,380 shares in the last quarter. Finally, Capstone Investment Advisors LLC increased its position in Coca-Cola Consolidated by 121.3% during the 1st quarter. Capstone Investment Advisors LLC now owns 3,023 shares of the company’s stock worth $2,559,000 after purchasing an additional 1,657 shares in the last quarter. Hedge funds and other 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.