Coca-Cola Consolidated (NASDAQ:COKE) Stock Price Passes Above 50-Day Moving Average of $307.24

Coca-Cola Consolidated Inc (NASDAQ:COKE) passed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $307.24 and traded as high as $316.85. Coca-Cola Consolidated shares last traded at $312.06, with a volume of 1,048 shares.

Separately, BidaskClub downgraded shares of Xencor from a “sell” rating to a “strong sell” rating in a research note on Tuesday, June 11th.

The company has a debt-to-equity ratio of 2.73, a current ratio of 1.45 and a quick ratio of 1.05. The company has a 50 day simple moving average of $306.82. The stock has a market capitalization of $2.83 billion, a P/E ratio of 50.02 and a beta of 0.80.

Coca-Cola Consolidated (NASDAQ:COKE) last issued its earnings results on Tuesday, May 7th. The company reported $0.36 EPS for the quarter, topping the consensus estimate of ($0.83) by $1.19. Coca-Cola Consolidated had a negative net margin of 0.27% and a positive return on equity of 12.79%. The company had revenue of $1.10 billion for the quarter.

In related news, Director John W. Murrey III sold 1,000 shares of Coca-Cola Consolidated stock in a transaction on Friday, May 10th. The shares were sold at an average price of $379.60, for a total value of $379,600.00. Following the transaction, the director now directly owns 500 shares of the company’s stock, valued at $189,800. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.01% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Quadrant Capital Group LLC increased its position in Coca-Cola Consolidated by 529.4% during the 1st quarter. Quadrant Capital Group LLC now owns 107 shares of the company’s stock valued at $29,000 after purchasing an additional 90 shares during the period. Investors Research Corp purchased a new position in Coca-Cola Consolidated during the 1st quarter valued at $40,000. Meeder Asset Management Inc. purchased a new position in Coca-Cola Consolidated during the 1st quarter valued at $51,000. Acadian Asset Management LLC purchased a new position in Coca-Cola Consolidated during the 4th quarter valued at $71,000. Finally, Valeo Financial Advisors LLC increased its position in Coca-Cola Consolidated by 34.8% during the 1st quarter. Valeo Financial Advisors LLC now owns 271 shares of the company’s stock valued at $78,000 after purchasing an additional 70 shares during the period. 38.26% of the stock is currently owned by institutional investors.

About Coca-Cola Consolidated (NASDAQ:COKE)

Coca-Cola Consolidated, Inc, 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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