Coca-Cola Consolidated Stock Price, News & Analysis

Coca-Cola Consolidated, Inc. (NASDAQ: COKE) is a soft drink manufacturing and distribution company in the United States. The company is described as the largest Coca‑Cola bottler in the United States and operates in the nonalcoholic beverage industry. It makes, sells and distributes beverages of The Coca‑Cola Company and other partner companies, offering more than 300 brands and flavors across a multi‑state territory. According to company disclosures, Coca‑Cola Consolidated serves consumers in 14 states and the District of Columbia.

The company’s primary business is focused on nonalcoholic beverages. Based on available information, it distributes, markets and manufactures nonalcoholic beverages and offers a range of nonalcoholic beverage products and flavors, including both sparkling and still beverages. Sparkling beverages are carbonated beverages, and the company identifies Coca‑Cola as its principal sparkling beverage. Still beverages include energy products and noncarbonated beverages such as bottled water, ready‑to‑drink tea, ready‑to‑drink coffee, enhanced water, juices and sports drinks.

Coca‑Cola Consolidated reports that it operates through three operating segments: Nonalcoholic Beverages, All Other and Eliminations. The company states that key revenue is generated from the Nonalcoholic Beverages segment. Within this segment, the company’s results are often discussed in terms of Sparkling and Still categories, reflecting the mix of carbonated and noncarbonated products in its portfolio.

Business model and operations

Coca‑Cola Consolidated’s business model centers on manufacturing and bottling beverages, then selling and distributing those beverages across its franchise territory. The company states that it makes, sells and distributes beverages of The Coca‑Cola Company and other partner companies to approximately 60 million consumers. Its territory spans 14 states and the District of Columbia, and its activities include producing beverages, managing a supply chain, and executing sales and delivery to retail and other outlets.

The company highlights that it offers more than 300 brands and flavors. Within its Sparkling category, Coca‑Cola Original Taste and other zero‑sugar and flavor offerings are referenced in company communications. Within its Still category, the company has referenced brands such as Monster, Powerade, smartwater, Core Power, Dasani and Topo Chico when discussing volume and sales performance. These references illustrate the breadth of its Still beverage offerings, which include energy drinks, bottled water, enhanced water and protein beverages.

Industry context and product categories

Within the soft drink manufacturing and broader nonalcoholic beverage sector, Coca‑Cola Consolidated participates in several product categories. Sparkling bottle and can beverages, including Coca‑Cola and other carbonated drinks, are a major part of its reported beverage sales. Still bottle and can beverages include bottled water, enhanced water, energy drinks, ready‑to‑drink teas and coffees, juices and sports drinks. Company disclosures also reference performance in channels such as supermarkets, club stores, value channels, small store convenience outlets and eating and drinking on‑premise locations when describing sales trends.

In its public communications, the company emphasizes a long history of operating as a local bottler and notes that it has been serving consumers, customers and communities for more than 123 years. It also highlights a stated corporate purpose “to honor God in all we do, to serve others, to pursue excellence and to grow profitably.” This purpose statement appears consistently in company news releases describing its identity and approach to business.

Territory and scale

Coca‑Cola Consolidated reports that it serves approximately 60 million consumers across its territory. It describes itself as the largest Coca‑Cola bottler in the United States, operating in 14 states and the District of Columbia. The company’s communications reference a large teammate base and ongoing investments in supply chain capabilities, selling capabilities and capital expenditures to support future growth and meet customer demand. While specific financial figures change over time, the company’s disclosures show that it regularly reports on net sales, volume, gross profit, operating margin and cash flows from operations.

The company’s operations include direct store delivery of differing package configurations, and it measures volume on a standard physical case basis to standardize these configurations. Its reported results often distinguish between Sparkling and Still categories and between different retail channels, reflecting how consumer demand and pricing realization affect performance across the portfolio.

Capital structure and recent corporate actions

Coca‑Cola Consolidated’s common stock trades on The Nasdaq Global Select Market under the symbol COKE. In a company announcement, it reported that a 10‑for‑1 split of its Common Stock and Class B Common Stock was approved by stockholders. The company stated that shares were expected to begin trading on a split‑adjusted basis on or about May 27, 2025, and that stockholders would receive additional shares as part of the forward stock split, following approval of an amendment to its Restated Certificate of Incorporation.

In another disclosed transaction, Coca‑Cola Consolidated announced that it entered into a purchase agreement to repurchase all outstanding shares of its common stock owned by a subsidiary of The Coca‑Cola Company. The company reported that it purchased these shares for an aggregate purchase price of approximately $2.4 billion, funded with cash on hand and a term loan facility. In connection with this repurchase, The Coca‑Cola Company relinquished its seat on Coca‑Cola Consolidated’s Board of Directors, and an Amended and Restated Stock Rights and Restrictions Agreement was terminated. The company also entered into a bridge loan agreement and amendments to certain credit and note purchase agreements to facilitate this transaction and to address change‑of‑control provisions.

Dividends, share repurchases and capital allocation

Coca‑Cola Consolidated regularly communicates its capital allocation decisions through news releases and SEC filings. The company has announced quarterly dividends on its Common Stock and Class B Common Stock, specifying per‑share amounts and record and payment dates. It has also reported returning capital to stockholders through share repurchases and dividends, and it has discussed a share repurchase program for its common stock, including revisions to the size of that program in connection with the repurchase of shares from The Coca‑Cola Company.

Company disclosures describe how strong financial performance and cash flows from operations have supported investments in teammates, supply chain optimization and capital expenditures, as well as the return of capital to stockholders. The company has also discussed the use of term loan facilities and revolving credit facilities, along with related financial covenants and events of default, in its SEC filings.

Community engagement and corporate purpose

In addition to its manufacturing and distribution activities, Coca‑Cola Consolidated highlights community engagement as part of its identity. The company describes a mission to meet the physical, emotional and spiritual needs of the communities it serves. It has reported back‑to‑school service initiatives across its territory, where teammates supported students, teachers and schools with gift cards, school supplies, snacks, refreshments, food and hygiene kits, and school facility preparation. The company characterizes itself as more than a local bottler, emphasizing its role as a neighbor and its focus on serving communities with purpose.

These community initiatives are presented alongside the company’s stated Purpose and long history, reinforcing how it positions its role in the regions where it operates. Partnerships with schools, nonprofits, local organizations and customers are highlighted in its communications as part of this community focus.

Risk factors and regulatory disclosures

Coca‑Cola Consolidated’s SEC filings and news releases include cautionary notes regarding forward‑looking statements. The company identifies a range of factors that could affect its business, financial condition and results of operations. These factors include increased costs or disruptions in raw materials, fuel and other supplies; reliance on purchased finished products from external sources; changes in consumer preferences and public perception related to product safety, sustainability, artificial ingredients, brand reputation and obesity; and changes in government regulations related to nonalcoholic beverages, including regulations related to public health, recycling and product safety.

Other factors mentioned include changes in marketing funding support from The Coca‑Cola Company and other beverage companies, performance requirements tied to such funding, advertising and product innovation spending, the functioning of Coca‑Cola system governance entities, provisions in beverage distribution and manufacturing agreements, concentration of capital stock ownership, technology failures or cyberattacks, unfavorable changes in the general economy and trade policies, concentration risks among customers and suppliers, competition and pricing dynamics, changes in debt levels and borrowing costs, labor costs and labor relations, changes in accounting standards and tax laws, legal contingencies, natural disasters, changing weather patterns and climate change or related legislative or regulatory responses.

These disclosures are intended to provide context for forward‑looking statements and to outline the range of uncertainties that could influence future results. Investors and other readers are directed in company communications to review the risk factors discussed in its Annual Report on Form 10‑K and other regulatory filings.

Summary

Coca‑Cola Consolidated, Inc. is a nonalcoholic beverage company that manufactures, bottles, sells and distributes beverages of The Coca‑Cola Company and other partner companies. It operates as the largest Coca‑Cola bottler in the United States, serving approximately 60 million consumers across 14 states and the District of Columbia with more than 300 brands and flavors in both Sparkling and Still categories. The company’s business model combines manufacturing, distribution and sales execution, supported by long‑term agreements with The Coca‑Cola Company and other partners, ongoing investments in supply chain and teammates, and a stated Purpose that emphasizes service to consumers, customers and communities.