Coca-Cola Consolidated Inc
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Consumer Staples : Beverages | Small Cap Growth
Company profile

Coca-Cola Consolidated Inc, formerly Coca-Cola Bottling Co. Consolidated, produces, markets and distributes nonalcoholic beverages. The Company is an independent Coca-Cola bottler in the United States. The Company's segments include Nonalcoholic Beverages and All Other. Majority of its total bottle/can volume to retail customers consist of products of The Coca-Cola Company. It also distributes products for various other beverage brands, including Dr Pepper, Sundrop and Monster Energy. The Company's product offerings include both sparkling and still beverages. Sparkling beverages are carbonated beverages and the Company's principal sparkling beverage is Coca-Cola. Still beverages include energy products and noncarbonated beverages, such as bottled water, tea, ready to drink coffee, enhanced water, juices and sports drinks. There are two main categories of sales, which include bottle/can sales and other sales.

Closing Price
$253.17
Day's Change
23.16 (10.07%)
Bid
--
Ask
--
B/A Size
--
Day's High
255.50
Day's Low
230.01
Volume
(Above Average)
Volume:
86,708

10-day average volume:
72,680
86,708

UPDATE: Target is taking the market share in women's clothing that Kohl's is losing

8:09 am ET January 10, 2020 (MarketWatch)
Print

By Tonya Garcia, MarketWatch

Kohl's was downgraded again at Bank of America, the third this week

Target Corp. is snapping up the market share that Kohl's Corp. is shedding in women's apparel and that is driving analysts to downgrade Kohl's. .

Bank of America is the latest research group to downgrade Kohl's (KSS) , in this case, to neutral from buy. Bank of America cut its price target to $50 from $55.

Kohl's reported (http://www.marketwatch.com/story/kohls-shares-sink-after-holiday-sales-decline-weak-guidance-2020-01-09) a 0.2% comparable store sales decline for the holiday season on Thursday, sending shares down 6.5%.

"This negative comp was surprising given the level of product newness, including in women's, and the ramped up investment spending on its Amazon initiative in the quarter," analysts wrote.

See:Bed Bath & Beyond has so many ways it can improve analysts can't help but be bullish (http://www.marketwatch.com/story/bed-bath-beyond-has-so-many-ways-it-can-improve-analysts-cant-help-but-be-bullish-2020-01-09)

Prior to the announcement, Kohl's stock was downgraded at both Jefferies and Cowen (http://www.marketwatch.com/story/kohls-downgraded-as-discounts-and-weakness-in-womens-clothing-put-margins-at-risk-2020-01-08). Both pointed to the weakness in women's, which Kohl's acknowledged. However, both also say that Target (TGT) is becoming the retailer of choice in this category.

"Active, men's and digital have been strong, but we believe momentum at competitors such as Target is likely to continue to nip at Kohl's heels," Jefferies wrote.

Jefferies rates Kohl's shares hold, down from buy, with a $52 price target.

Read:Kohl's needs more than an Amazon partnership to grow sales (http://www.marketwatch.com/story/kohls-needs-more-than-an-amazon-partnership-to-grow-sales-2020-01-07)

Cowen said it favors Target in a note downgrading Kohl's to market perform from outperform published earlier this week. Analysts reiterated that opinion in a note published Thursday. They also cut their price target to $48 from $53.

"We continue to prefer more sustainably positive traffic trends at broadline retailers such as Target (top pick for 2020 and will report holiday sales on Jan. 15), Walmart, Costco, as well as specialty leaders such as Boot Barn and Planet Fitness," analysts said.

Cowen notes that the Amazon.com Inc. (AMZN) partnership, which is a traffic driver is still in early stages. And Kohl's is growing in the active category.

"[W]e are encouraged by continued momentum in active, as the retailer has done a good job of expanding square footage and providing shoppers with a compelling assortment," analysts said.

Don't miss:Macy's comparable sales improved over the holidays but results were still 'mediocre' (http://www.marketwatch.com/story/macys-comparable-sales-improved-over-the-holidays-but-results-were-still-mediocre-2020-01-08)

However, Target is making moves in that category too, launching a new active and sportswear line for men, women and children on Thursday, All in Motion (http://www.marketwatch.com/story/target-launches-active-and-sporting-goods-brand-all-in-motion-2020-01-09). Target boasts a broad range of sizes and unretouched marketing to promote the new collection.

"We're expecting an overall solid holiday update from Target, with comps about in line, margins potentially better, and indications that EPS will be at the high end," wrote Credit Suisse analysts led by Seth Sigman.

Analysts say Target is well-positioned for 2020, with the coming announcement showing that it is taking share across a number of categories, including apparel, among other gains.

Credit Suisse rates Target outperform with a $138 price target.

Target shares have soared nearly 81% over the last year. Kohl's stock has fallen 30.6%. And the benchmark S&P 500 index has gained 26.1% for the period.

-Tonya Garcia; 415-439-6400; AskNewswires@dowjones.com

(END) Dow Jones Newswires

January 10, 2020 08:09 ET (13:09 GMT)

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