At roughly 4.8 times forward earnings with a PEG ratio near zero and a recent three-of-four earnings beat history, the business is meaningfully undervalued on fundamentals, but near-term price appreciation is tightly capped—just 2.6% headroom to the resistance target and an unfavorable risk/reward geometry—while an overwhelming single-supplier relationship limits strategic independence.
Thesis pillars
- Deep Value Low Forward Multiple→Stable
- Single Supplier Concentration Overhang↓Deteriorating
- Consistent Earnings Beat Track Record↑Improving
- +1 more pillar — see the Why tab for full reasoning
Pillars as of Jul 3, 2026, based on the 10-K filed Feb 18, 2026· older than 90 days
Coca-Cola Consolidated, Inc. (COKE) Stock Analysis
Range Bound setup
Consumer Defensive · Beverages - Non-Alcoholic
Hold if already holding. Not a fresh buy at $204.18, but acceptable to hold if already in. Reasons: Concentration risk — Supplier: The Coca-Cola Company (85.0%); Negative momentum.
Coca-Cola Consolidated is the largest Coca-Cola bottler in the US, distributing and manufacturing nonalcoholic beverages across 14 states and DC. Roughly 85% of bottle/can volume consists of Coca-Cola Company brands; Walmart and Kroger together represented 29% of total net sales... Read more
Hold if already holding. Not a fresh buy at $204.18, but acceptable to hold if already in. Reasons: Concentration risk — Supplier: The Coca-Cola Company (85.0%); Negative momentum. Chart setup: RSI 50 mid-range, Bollinger mid-band. Maintain position. Not compelling to add more. Score 5.9/10, moderate confidence.
Passes 6/8 gates (clean insider activity, no SEC red flags, news boost earnings 0.70, earnings proximity no date, semi cycle peak clear, materials cycle peak clear). Fails on weak momentum. Suitability: moderate.
About Coca-Cola Consolidated, Inc.
About Coca-Cola Consolidated, Inc.
Coca-Cola Consolidated, the largest Coca-Cola bottler in the United States, distributed and manufactured nonalcoholic beverages across 14 states and the District of Columbia in fiscal 2025, with Walmart representing 17% of total net sales and The Kroger Co. representing 12% — together 29% of net sales. Approximately 85% of the company's total bottle/can sales volume consisted of products of The Coca-Cola Company. The company operates 10 manufacturing plants and 60 distribution centers, serving approximately 60 million consumers.
Coca-Cola Consolidated generates revenue from two main categories: bottle/can sales (split 46% plastic bottles and 54% aluminum cans in fiscal 2025) and other sales, including post-mix, sales to other bottlers, transportation, and equipment maintenance. Products reach customers through direct store delivery to grocery, mass merchandise, club, convenience, drug stores, on-premise locations, and vending, plus alternative routes to market via third-party distributors. Packaging input costs — aluminum, PET resin, and high-fructose corn syrup — are exposed to commodity price volatility, partially managed through CCBSS-administered and company-run hedging programs. The Coca-Cola Company unilaterally establishes concentrate prices under the incidence-based pricing agreement and sets prices for finished goods sold among U.S. bottlers under the RMA. Principal competitors are local PepsiCo bottlers and, in certain regions, Dr Pepper bottlers. In 2025, the company made approximately $52 million in charitable cash donations across its 14-state and DC territory.
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Walmart and Kroger together represent 36% of bottle/can volume and 29% of total net sales — levels stable versus 2024. The 10-K states that loss of either 'could have a material adverse effect on the operating and financial results of the Company,' and no other customer exceeded 10% of net sales. The CBA with The Coca-Cola Company prohibits the company from distributing beverages not authorized by KO without consent, and gives The Coca-Cola Company certain approval rights in connection with any sale of the distribution or manufacturing business, substantially constraining strategic flexibility. Certain states in the company's territories have implemented SNAP benefit restrictions on soft drinks and energy drinks, which, if expanded, may weigh on near-term sales volume.
See also: Consumer Defensive · Beverages - Non-Alcoholic
From Coca-Cola Consolidated, Inc.'s most recent 10-K filing, extracted June 9, 2026.
Recent developments
updated Oct 28, 2026Recent Developments — Coca-Cola Consolidated, Inc.
Latest news
- NEWS Raised Outlook Could Be A Game Changer For Coca Cola Consolidated Stock (COKE) - Simply Wall St — Simply Wall St Oct 28, 2026 positive
- NEWS World drinks more Coke products but not the US - Morning Brew — Morning Brew Oct 28, 2026 neutral
- NEWS Coca-Cola CEO responds to Diet Coke 'fridge cigarette' moniker: Consumers call it what they want - Yahoo Finance — Yahoo Finance Oct 27, 2026 neutral
- NEWS Coca-Cola Consolidated (COKE) Releases Q2 2026 Earnings: Revenue Up 10.6%, EPS Rises 10.7% - Quiver Quantitative — Quiver Quantitative Aug 5, 2026 positive
- NEWS Coca-Cola Consolidated (COKE) Releases Q2 2026 Earnings: Revenue Up 10.6%, EPS Rises 10.7% - quiverquant.com — quiverquant.com Aug 5, 2026 positive
Latest item Oct 28, 2026 · Generated 2026-11-05T11:39:29Z.
Upcoming dated catalysts
Thesis
Key Metrics
Quality Signals
Options Flow
Concentration Risks(10-K Item 1A)
- HIGHSupplierThe Coca-Cola Company85%10-K Item 1: 'Approximately 85% of our total bottle/can sales volume to retail customers consists of products of The Coca‑Cola Company'
- LOWCustomerWalmart Inc.17%10-K Item 1: 'Walmart Inc.(1)| | 17 | %| | 17 | %'
- LOWCustomerThe Kroger Co.12%10-K Item 1: 'The Kroger Co.(2)| | 12 | %| | 12 | %'
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results. How we score · Editorial policy
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Rating Breakdown
1 floor-breaker
Momentum below the gate floor. Component breakdown shows what dragged the score down.static
Price Targets
Position Sizing
Risk Alerts
Earnings
Verdict History
Frequently Asked Questions
Hold if already holding. Not a fresh buy at $204.18, but acceptable to hold if already in. Reasons: Concentration risk — Supplier: The Coca-Cola Company (85.0%); Negative momentum. Chart setup: RSI 50 mid-range, Bollinger mid-band. Maintain position. Not compelling to add more. Resistance target $211.61 (+3.6%), stop $189.89 (−7.5%), A.R:R 0.0:1. Score 5.9/10, moderate confidence.
Resistance target: $211.61 (+3.6% upside). Resistance target $211.61 (+3.6%), stop $189.89 (−7.5%), A.R:R 0.0:1. Stop-loss: $189.89.
Concentration risk — Supplier: The Coca-Cola Company (85.0%); Negative momentum.
Coca-Cola Consolidated, Inc. trades at a P/E of 24.0 (forward 5.2). TrendMatrix value score: 8.5/10. Verdict: Hold.
6 analysts rate COKE, with a consensus score of 2.2/5.
What does Coca-Cola Consolidated, Inc. do?Coca-Cola Consolidated is the largest Coca-Cola bottler in the US, distributing and manufacturing nonalcoholic...
Coca-Cola Consolidated is the largest Coca-Cola bottler in the US, distributing and manufacturing nonalcoholic beverages across 14 states and DC. Roughly 85% of bottle/can volume consists of Coca-Cola Company brands; Walmart and Kroger together represented 29% of total net sales in 2025 (17% and 12% respectively). Distribution rights under the CBA restrict product additions without Coca-Cola Company consent.