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: Bed Bath & Beyond stores are getting a revamp

9:25 am ET February 20, 2020 (MarketWatch)
Print

By Tonya Garcia, MarketWatch

Bed Bath & Beyond stock closed Wednesday up 7.1% and analysts think there's potential for better results later this year

Bed Bath & Beyond Inc. stores are getting a revamp, with new Chief Executive Mark Tritton saying one set of investments will be complete in the first half of the year, and up to three new store formats are in the works.

After a news-packed day, Tritton hopped on a call late Wednesday, his 106th day on the job, to announce the struggling retailer's 2020 capital allocation strategy, which will include $600 million for capital returns to shareholders and debt reduction, and $400 million for stores, supply chain infrastructure, and more.

Earlier in the day, Bed Bath & Beyond (BBBY) announced it was selling PersonalizationMall.com (http://www.marketwatch.com/story/bed-bath-beyond-shares-rise-after-agreement-to-sell-personalizationmallcom-for-252-million-2020-02-18) to 1-800-Flowers.com Inc. (FLWS) for $252 million.

Read:Bed Bath & Beyond shares plummet 25% after sales warning includes surprise margin decline (http://www.marketwatch.com/story/bed-bath-beyond-shares-plummet-25-after-sales-warning-includes-surprise-margin-decline-2020-02-12)

"After being outbid three years ago, 1-800-Flowers now takes over a healthy growth asset that should fit nicely with their gifting business and offer several avenues of revenue synergy upside," wrote Benchmark analysts about that deal.

Benchmark rates 1-800-Flowers.com stock a buy with a $27 price target. Shares of the company have soared 43.2% over the last three months, and are up 3.2% for the last year.

As for Bed Bath & Beyond's store redesign, the company will start with upgrades to the buy-online-pickup-in-store (BOPIS) function, in-store marketing and updates at checkout.

Tritton, a former Target Corp. (TGT) executive, said Bed Bath & Beyond is also looking at a set of store formats in order to settle on a range of up to three.

"Bigger picture, new CEO Mark Tritton is moving quickly to fix fundamental issues at Bed Bath & Beyond while also applying a test-and-learn strategy to significant in-store changes including wider aisles that improve visibility and enhance the shopping experience; less overwhelming assortments that reduce clutter, improve sales and reduce inventory; and new signage that increases visibility and clarity on pricing," wrote Wedbush analysts led by Seth Basham.

Also:Walmart expects to save $60 million annually on shopping bags (http://www.marketwatch.com/story/walmart-expects-to-save-60-million-annually-on-shopping-bags-2020-02-18)

"We see potential for results to improve materially starting in the second half of 2020 on the back of price/value changes, better inventory management, BOPIS rollout and other omnichannel enhancements."

Wedbush rates Bed Bath & Beyond stock outperform with an $18 price target.

Wedbush analysts also highlight the likelihood that PersonalizationMall.com won't be the only asset sale as Bed Bath & Beyond focuses on core categories: baby, health and beauty.

With debt maturities years down the line, Raymond James analysts see the value of Bed Bath & Beyond's strategy.

"[R]etail turnarounds are never linear and always highly controversial, with the majority of them failing," analyst Bobby Griffin wrote. "Accordingly, maintaining a high cash balance (i.e. not spending all the asset sale proceeds) will give investors more comfort in 'buying into' the multi-year turnaround process."

Don't miss:Your grocery store may not be doing enough to notify you about potentially dangerous food recalls (http://www.marketwatch.com/story/your-grocery-store-may-not-be-doing-enough-to-notify-you-about-potentially-dangerous-food-recalls-2020-02-13)

Raymond James thinks all pieces of Bed Bath & Beyond news are positive developments despite recent poor quarterly results.

Bed Bath & Beyond stock gained 7.1% on Wednesday. Shares have slumped 25.3% for the past year. The S&P 500 index has gained 21.6% over the last 12 months.

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

(END) Dow Jones Newswires

February 20, 2020 09:25 ET (14:25 GMT)

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