Coca-Cola Consolidated, Inc. (NASDAQ:COKE) Declares Quarterly Dividend of $3.50

Coca-Cola Consolidated, Inc. (NASDAQ:COKEGet Rating) announced a quarterly dividend on Wednesday, December 7th, Zacks reports. Investors of record on Friday, January 27th will be given a dividend of 3.50 per share on Friday, February 10th. This represents a $14.00 annualized dividend and a dividend yield of 2.81%. The ex-dividend date of this dividend is Thursday, January 26th. This is a positive change from Coca-Cola Consolidated’s previous quarterly dividend of $0.25.

Coca-Cola Consolidated has increased its dividend by an average of 65.1% per year over the last three years and has raised its dividend annually for the last 1 consecutive years. Coca-Cola Consolidated has a dividend payout ratio of 4.8% indicating that its dividend is sufficiently covered by earnings.

Coca-Cola Consolidated Trading Up 1.1 %

NASDAQ COKE opened at $497.49 on Wednesday. The company has a quick ratio of 1.05, a current ratio of 1.40 and a debt-to-equity ratio of 0.60. Coca-Cola Consolidated has a twelve month low of $405.03 and a twelve month high of $656.11. The firm has a market capitalization of $4.66 billion, a PE ratio of 14.13 and a beta of 0.95. The stock’s 50 day moving average is $495.93 and its 200 day moving average is $482.50.

Coca-Cola Consolidated (NASDAQ:COKEGet Rating) last released its earnings results on Tuesday, November 1st. The company reported $14.81 EPS for the quarter. Coca-Cola Consolidated had a return on equity of 45.79% and a net margin of 5.49%. The business had revenue of $1.63 billion for the quarter.

Wall Street Analysts Forecast Growth

Separately, StockNews.com assumed coverage on Coca-Cola Consolidated in a report on Wednesday, October 12th. They issued a “strong-buy” rating on the stock.

Institutional Investors Weigh In On Coca-Cola Consolidated

Hedge funds have recently added to or reduced their stakes in the stock. Eaton Vance Management raised its stake in shares of Coca-Cola Consolidated by 4.4% in the first quarter. Eaton Vance Management now owns 455 shares of the company’s stock worth $226,000 after purchasing an additional 19 shares during the last quarter. Bank of Montreal Can raised its stake in shares of Coca-Cola Consolidated by 1.2% in the first quarter. Bank of Montreal Can now owns 1,665 shares of the company’s stock worth $825,000 after purchasing an additional 20 shares during the last quarter. Captrust Financial Advisors raised its stake in shares of Coca-Cola Consolidated by 4.0% in the third quarter. Captrust Financial Advisors now owns 593 shares of the company’s stock worth $244,000 after purchasing an additional 23 shares during the last quarter. Great West Life Assurance Co. Can raised its stake in shares of Coca-Cola Consolidated by 0.6% in the first quarter. Great West Life Assurance Co. Can now owns 4,052 shares of the company’s stock worth $2,067,000 after purchasing an additional 24 shares during the last quarter. Finally, Geneos Wealth Management Inc. raised its stake in shares of Coca-Cola Consolidated by 69.3% in the first quarter. Geneos Wealth Management Inc. now owns 127 shares of the company’s stock worth $63,000 after purchasing an additional 52 shares during the last quarter. 36.33% of the stock is owned by institutional investors.

Coca-Cola Consolidated Company Profile

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Coca-Cola Consolidated, Inc engages in the production, marketing, and distribution of nonalcoholic beverages. Its products include sparkling and still beverages as well as energy products and noncarbonated beverages such as bottled water, tea, ready to drink coffee, enhanced water, juices, and sports drinks.

See Also

Dividend History for Coca-Cola Consolidated (NASDAQ:COKE)

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