Coca-Cola Bottling Co Consolidated (COKE) Upgraded at BidaskClub

BidaskClub upgraded shares of Coca-Cola Bottling Co Consolidated (NASDAQ:COKE) from a hold rating to a buy rating in a research report released on Wednesday.

Separately, ValuEngine upgraded Coca-Cola Bottling Co Consolidated from a sell rating to a hold rating in a research note on Thursday, August 9th.

Shares of NASDAQ COKE traded up $1.31 during mid-day trading on Wednesday, reaching $174.48. 37,208 shares of the company were exchanged, compared to its average volume of 27,638. The company has a debt-to-equity ratio of 2.62, a current ratio of 1.26 and a quick ratio of 0.94. The stock has a market capitalization of $1.61 billion, a P/E ratio of 73.46 and a beta of 0.33. Coca-Cola Bottling Co Consolidated has a 1 year low of $125.08 and a 1 year high of $230.00.

Coca-Cola Bottling Co Consolidated (NASDAQ:COKE) last issued its quarterly earnings data on Wednesday, August 8th. The company reported $1.12 earnings per share for the quarter, missing analysts’ consensus estimates of $2.91 by ($1.79). The company had revenue of $1.23 billion for the quarter. Coca-Cola Bottling Co Consolidated had a return on equity of 5.07% and a net margin of 1.68%.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 9th. Investors of record on Friday, October 26th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date is Thursday, October 25th.

Several hedge funds and other institutional investors have recently modified their holdings of COKE. BlackRock Inc. raised its stake in Coca-Cola Bottling Co Consolidated by 10.2% in the second quarter. BlackRock Inc. now owns 666,725 shares of the company’s stock valued at $90,095,000 after buying an additional 61,511 shares during the last quarter. Millennium Management LLC raised its stake in Coca-Cola Bottling Co Consolidated by 822.9% in the first quarter. Millennium Management LLC now owns 11,509 shares of the company’s stock valued at $1,987,000 after buying an additional 10,262 shares during the last quarter. Renaissance Technologies LLC raised its stake in Coca-Cola Bottling Co Consolidated by 166.4% in the second quarter. Renaissance Technologies LLC now owns 13,127 shares of the company’s stock valued at $1,774,000 after buying an additional 8,200 shares during the last quarter. OppenheimerFunds Inc. raised its stake in Coca-Cola Bottling Co Consolidated by 49.5% in the second quarter. OppenheimerFunds Inc. now owns 21,769 shares of the company’s stock valued at $2,942,000 after buying an additional 7,203 shares during the last quarter. Finally, Employees Retirement System of Texas purchased a new stake in Coca-Cola Bottling Co Consolidated in the second quarter valued at about $946,000. Hedge funds and other institutional investors own 37.71% of the company’s stock.

Coca-Cola Bottling Co Consolidated Company Profile

Coca-Cola Bottling Co Consolidated, together with its subsidiaries, produces, markets, and distributes nonalcoholic beverages, primarily products of The Coca-Cola Company in the United States. The company offers sparkling beverages, including carbonated beverages; and still beverages, such as energy products, as well as noncarbonated beverages comprising bottled water, tea, ready to drink coffee, enhanced water, juices, and sports drinks.

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