Coca-Cola Consolidated slides as investors focus on margin pressure and weaker adjusted profit despite strong headline sales growth

Coca-Cola Consolidated (COKE) is down 17.6% today. Here is some analysis on what might have caused this price movement.

Analysis: The selloff appears tied to the company’s first-quarter results, where headline revenue and operating income rose, but adjusted profitability metrics weakened once calendar effects were removed. With the quarter including extra days versus last year, investors may have looked through the reported growth and reacted to softer adjusted net income and margin compression.

Details:

The company reported first-quarter net sales of about $1.85 billion (+16.9% year over year) and operating income of about $238 million (+25.1%).

Management highlighted that the quarter included six additional days versus the prior-year period, and the company estimated those extra days added roughly $23 million to net income.

On an adjusted basis (excluding the extra-day effect and other items), adjusted operating margin fell about 70 basis points year over year (to roughly 11.4%), signaling cost or mix pressures despite volume growth.

Adjusted net income declined about 12.3% year over year, which can matter more to investors than the GAAP increase when assessing underlying earnings power.

Sources:

SEC (EDGAR), Coca-Cola Consolidated investor release, StreetInsider

Disclaimer: This price movement analysis was generated with the help of AI. Please double-check the information provided for mistakes.

$COKE Insider Trading Activity

$COKE insiders have traded $COKE stock on the open market 1 times in the past 6 months. Of those trades, 0 have been purchases and 1 have been sales.

Here’s a breakdown of recent trading of $COKE stock by insiders over the last 6 months:

COLA CO COCA sold 18,835,460 shares for an estimated $2,392,103,420

To track insider transactions, check out Quiver Quantitative's insider trading dashboard. You can access data on insider stock transactions through the Quiver Quantitative API.

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$COKE Hedge Fund Activity

We have seen 268 institutional investors add shares of $COKE stock to their portfolio, and 224 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

NORGES BANK removed 1,063,032 shares (-42.3%) from their portfolio in Q4 2025, for an estimated $162,962,805
FIRST TRUST ADVISORS LP added 603,513 shares (+42.1%) to their portfolio in Q4 2025, for an estimated $92,518,542
UBS AM, A DISTINCT BUSINESS UNIT OF UBS ASSET MANAGEMENT AMERICAS LLC removed 437,409 shares (-77.6%) from their portfolio in Q4 2025, for an estimated $67,054,799
NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO removed 416,702 shares (-99.7%) from their portfolio in Q1 2026, for an estimated $79,898,441
M&T BANK CORP added 403,992 shares (+inf%) to their portfolio in Q4 2025, for an estimated $61,931,973
VANGUARD GROUP INC added 341,374 shares (+6.4%) to their portfolio in Q4 2025, for an estimated $52,332,634
BLACKROCK, INC. removed 314,951 shares (-5.8%) from their portfolio in Q4 2025, for an estimated $48,281,988

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API.

$COKE Government Contracts

We have seen $1,186,317 of award payments to $COKE over the last year.

Here are some of the awards which we have have seen pay out the most over the last year:

4569356725!POWERADE MTN BLAST, 2.5 GL BIB, SODA: $10,026
4568561636!POWERADE MTN BLAST, 2.5 GL BIB, SODA: $9,864
4568530014!HI-C PINK LEMONADE, 5 GL BIB, SODA: $9,760

To track government contracts to publicy traded companies, check out Quiver Quantitative's government contracts dashboard.

This article is not financial advice. See Quiver Quantitative's disclaimers for more information. Note that there may be inaccuracies due to mistakes in ticker-mapping, and other anomalies.