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

Coca-Cola Consolidated (NASDAQ:COKE) was downgraded by stock analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Thursday.

Coca-Cola Consolidated Stock Performance

Shares of COKE opened at $992.65 on Thursday. Coca-Cola Consolidated has a 1 year low of $614.22 and a 1 year high of $1,030.00. The company’s 50 day simple moving average is $869.79 and its 200 day simple moving average is $845.24. The company has a market capitalization of $9.30 billion, a price-to-earnings ratio of 20.44 and a beta of 0.73. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.47 and a current ratio of 1.87.

Coca-Cola Consolidated (NASDAQ:COKE) last posted its quarterly earnings data on Wednesday, February 21st. The company reported $13.39 earnings per share (EPS) for the quarter. The business had revenue of $1.63 billion for the quarter. Coca-Cola Consolidated had a return on equity of 42.10% and a net margin of 6.83%.

Hedge Funds Weigh In On Coca-Cola Consolidated

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Ontario Teachers Pension Plan Board grew its stake in shares of Coca-Cola Consolidated by 295.1% during the 4th quarter. Ontario Teachers Pension Plan Board now owns 5,014 shares of the company’s stock valued at $4,655,000 after buying an additional 3,745 shares during the period. Vanguard Group Inc. grew its position in Coca-Cola Consolidated by 3.5% during the third quarter. Vanguard Group Inc. now owns 580,785 shares of the company’s stock valued at $369,565,000 after acquiring an additional 19,877 shares during the period. American Century Companies Inc. increased its stake in Coca-Cola Consolidated by 3.8% during the third quarter. American Century Companies Inc. now owns 44,460 shares of the company’s stock worth $28,291,000 after acquiring an additional 1,628 shares during the last quarter. Janney Montgomery Scott LLC raised its holdings in shares of Coca-Cola Consolidated by 36.1% in the 3rd quarter. Janney Montgomery Scott LLC now owns 1,173 shares of the company’s stock worth $747,000 after purchasing an additional 311 shares during the period. Finally, Invesco Ltd. lifted its stake in shares of Coca-Cola Consolidated by 4.6% in the 3rd quarter. Invesco Ltd. now owns 114,973 shares of the company’s stock valued at $73,160,000 after purchasing an additional 5,084 shares in the last quarter. Institutional investors and hedge funds own 48.24% of the company’s stock.

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.