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

Coca-Cola Consolidated, Inc. (NASDAQ:COKE) was the recipient of a large decrease in short interest during the month of March. As of March 13th, there was short interest totaling 1,453,596 shares, a decrease of 18.2% from the February 26th total of 1,776,179 shares. Based on an average daily volume of 461,383 shares, the short-interest ratio is currently 3.2 days. Approximately 2.2% of the shares of the company are short sold.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. CWM LLC lifted its stake in Coca-Cola Consolidated by 209.4% during the third quarter. CWM LLC now owns 13,378 shares of the company’s stock valued at $1,567,000 after purchasing an additional 9,054 shares during the last quarter. Envestnet Asset Management Inc. increased its holdings in shares of Coca-Cola Consolidated by 320.8% in the third quarter. Envestnet Asset Management Inc. now owns 82,171 shares of the company’s stock valued at $9,627,000 after buying an additional 62,645 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Coca-Cola Consolidated by 11.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 244,805 shares of the company’s stock valued at $28,681,000 after acquiring an additional 24,278 shares during the last quarter. Hsbc Holdings PLC lifted its position in shares of Coca-Cola Consolidated by 663.7% during the 2nd quarter. Hsbc Holdings PLC now owns 24,889 shares of the company’s stock valued at $2,778,000 after acquiring an additional 21,630 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Coca-Cola Consolidated during the 2nd quarter worth $280,669,000. 48.24% of the stock is owned by institutional investors and hedge funds.

Coca-Cola Consolidated Price Performance

Shares of Coca-Cola Consolidated stock traded up $0.90 on Monday, hitting $182.20. The company had a trading volume of 20,450 shares, compared to its average volume of 486,668. Coca-Cola Consolidated has a 52 week low of $105.21 and a 52 week high of $219.65. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.26 and a quick ratio of 0.97. The company has a market cap of $12.13 billion, a PE ratio of 26.73 and a beta of 0.60. The business has a 50-day simple moving average of $179.41 and a 200-day simple moving average of $155.83.

Coca-Cola Consolidated (NASDAQ:COKE) last released its earnings results on Wednesday, February 18th. The company reported $2.11 earnings per share for the quarter. The firm had revenue of $1.90 billion during the quarter. Coca-Cola Consolidated had a return on equity of 66.42% and a net margin of 7.89%.

Coca-Cola Consolidated Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 6th. Stockholders of record on Friday, January 23rd were issued a $0.25 dividend. The ex-dividend date was Friday, January 23rd. This represents a $1.00 annualized dividend and a dividend yield of 0.5%. Coca-Cola Consolidated’s dividend payout ratio is 14.66%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “buy (b)” rating on shares of Coca-Cola Consolidated in a research report on Friday. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Coca-Cola Consolidated presently has an average rating of “Buy”.

Coca-Cola Consolidated Company Profile

Founded in 1902 and headquartered in Charlotte, North Carolina, Coca-Cola Consolidated, Inc is the largest independent bottler of Coca-Cola products in the United States. The company manufactures, sells and distributes a broad portfolio of sparkling and still beverages under exclusive agreements with The Coca-Cola Company. Its brand lineup includes Coca-Cola, Diet Coke, Sprite and Fanta, as well as noncarbonated offerings such as Minute Maid juices, Gold Peak teas, Dasani water, Powerade sports drinks and vitaminwater.

Coca-Cola Consolidated’s operations span 14 states and the District of Columbia across the Southeastern, South Central and Mid-Atlantic regions.