Short Interest in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) Expands By 26.2%

Coca-Cola Consolidated, Inc. (NASDAQ:COKE) was the target of a significant increase in short interest in January. As of January 30th, there was short interest totaling 1,970,117 shares, an increase of 26.2% from the January 15th total of 1,561,344 shares. Based on an average daily trading volume, of 339,505 shares, the days-to-cover ratio is currently 5.8 days. Currently, 2.3% of the shares of the stock are sold short. Currently, 2.3% of the shares of the stock are sold short. Based on an average daily trading volume, of 339,505 shares, the days-to-cover ratio is currently 5.8 days.

Institutional Investors Weigh In On Coca-Cola Consolidated

A number of institutional investors have recently made changes to their positions in the business. Caisse de depot et placement du Quebec raised its position in Coca-Cola Consolidated by 221.9% in the 4th quarter. Caisse de depot et placement du Quebec now owns 190,908 shares of the company’s stock worth $29,266,000 after purchasing an additional 131,608 shares during the period. Schonfeld Strategic Advisors LLC bought a new position in shares of Coca-Cola Consolidated during the fourth quarter valued at about $4,322,000. AQR Capital Management LLC increased its holdings in shares of Coca-Cola Consolidated by 5.9% in the fourth quarter. AQR Capital Management LLC now owns 1,450,162 shares of the company’s stock worth $222,310,000 after buying an additional 80,444 shares during the period. Jain Global LLC purchased a new position in shares of Coca-Cola Consolidated in the fourth quarter worth about $3,427,000. Finally, Laird Norton Wetherby Trust Company LLC bought a new stake in shares of Coca-Cola Consolidated in the 4th quarter valued at about $395,000. Hedge funds and other institutional investors own 48.24% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “buy (b)” rating on shares of Coca-Cola Consolidated in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy”.

Coca-Cola Consolidated Price Performance

COKE opened at $166.10 on Wednesday. The company has a current ratio of 2.04, a quick ratio of 1.79 and a debt-to-equity ratio of 0.88. The stock has a market capitalization of $14.19 billion, a P/E ratio of 23.65 and a beta of 0.64. The stock has a 50-day moving average price of $156.03 and a 200-day moving average price of $139.67. Coca-Cola Consolidated has a 12-month low of $105.21 and a 12-month high of $169.49.

Coca-Cola Consolidated Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 6th. Shareholders of record on Friday, January 23rd were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date was Friday, January 23rd. Coca-Cola Consolidated’s dividend payout ratio (DPR) is presently 14.25%.

About Coca-Cola Consolidated

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.