NEW YORK (TheStreet) -- Shares of Coca-Cola Bottling Co. (COKE) are up by 1.23% to 71.50 in late morning trading on Wednesday, following yesterday's earnings release which showed an increase in net income to $13.8 million, or $1.49 per share for the 2014 second quarter, compared to $11.2 million, or $1.21 per share or the same period last year.
The company, which produces, markets, and distributes nonalcoholic beverages for The Coca-Cola Co (KO), said net sales for the most recent quarter grew to $459.5 million, from $429 million for the 2013 second quarter.
Coca-Cola Bottling's comparable earnings also increased to $15.5 million, or $1.67 per share for the 2014 second quarter, versus $12 million, or $1.29 per share for the 2013 second quarter.
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Separately, TheStreet Ratings team rates COCA-COLA BTLNG CONS as a Hold with a ratings score of C+. TheStreet Ratings Team has this to say about their recommendation:
"We rate COCA-COLA BTLNG CONS (COKE) a HOLD. The primary factors that have impacted our rating are mixed some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth, good cash flow from operations and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, generally higher debt management risk and disappointing return on equity."