Coca-Cola Consolidated, Inc. (NASDAQ:COKE) Short Interest Update

Coca-Cola Consolidated, Inc. (NASDAQ:COKE) was the recipient of a large increase in short interest during the month of June. As of June 15th, there was short interest totalling 157,700 shares, an increase of 11.8% from the May 31st total of 141,000 shares. Approximately 3.0% of the shares of the company are sold short. Based on an average trading volume of 53,300 shares, the days-to-cover ratio is presently 3.0 days.

Coca-Cola Consolidated Stock Performance

Shares of NASDAQ:COKE traded up $25.00 during trading on Monday, hitting $1,110.00. The company’s stock had a trading volume of 108,267 shares, compared to its average volume of 56,464. The company has a 50-day moving average of $960.53 and a 200-day moving average of $895.96. Coca-Cola Consolidated has a 12 month low of $614.22 and a 12 month high of $1,134.49. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.87 and a quick ratio of 1.47. The firm has a market cap of $10.40 billion, a price-to-earnings ratio of 22.86 and a beta of 0.78.

Coca-Cola Consolidated (NASDAQ:COKE) last released its earnings results on Monday, May 6th. The company reported $17.31 EPS for the quarter. Coca-Cola Consolidated had a net margin of 6.83% and a return on equity of 42.10%. The company had revenue of $1.59 billion for the quarter.

Coca-Cola Consolidated Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 10th. Shareholders of record on Friday, April 26th were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.18%. The ex-dividend date of this dividend was Thursday, April 25th. Coca-Cola Consolidated’s payout ratio is 4.12%.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut shares of Coca-Cola Consolidated from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 23rd.

Institutional Investors Weigh In On Coca-Cola Consolidated

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Coca-Cola Consolidated by 5.3% during the 1st quarter. Vanguard Group Inc. now owns 608,875 shares of the company’s stock worth $515,358,000 after acquiring an additional 30,443 shares during the period. Norges Bank purchased a new stake in Coca-Cola Consolidated during the 4th quarter valued at approximately $188,138,000. International Assets Investment Management LLC purchased a new stake in Coca-Cola Consolidated during the 4th quarter valued at approximately $174,971,000. AQR Capital Management LLC grew its holdings in Coca-Cola Consolidated by 8.6% during the 3rd quarter. AQR Capital Management LLC now owns 92,222 shares of the company’s stock valued at $58,683,000 after buying an additional 7,336 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Coca-Cola Consolidated by 1.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 71,734 shares of the company’s stock valued at $66,598,000 after buying an additional 1,049 shares in the last quarter. Institutional investors own 48.24% of the company’s stock.

Coca-Cola Consolidated Company Profile

Coca-Cola Consolidated, Inc, together with its subsidiaries, manufactures, markets, and distributes nonalcoholic beverages primarily products of The Coca-Cola Company in the United States. The company offers sparkling beverages; and still beverages, including energy products, as well as noncarbonated beverages comprising bottled water, ready to drink coffee and tea, enhanced water, juices, and sports drinks.