Short Interest in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) Expands By 11.8%

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

Coca-Cola Consolidated Stock Performance

Shares of NASDAQ COKE traded down $13.31 during midday trading on Wednesday, reaching $1,092.15. The company’s stock had a trading volume of 42,672 shares, compared to its average volume of 56,371. Coca-Cola Consolidated has a 12-month low of $614.22 and a 12-month high of $1,134.49. The firm has a 50 day moving average price of $971.61 and a 200-day moving average price of $899.48. The stock has a market capitalization of $10.23 billion, a P/E ratio of 22.76 and a beta of 0.78. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.87 and a quick ratio of 1.47.

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

Coca-Cola Consolidated Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 10th. Investors of record on Friday, April 26th were issued a $0.50 dividend. The ex-dividend date of this dividend was Thursday, April 25th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.18%. Coca-Cola Consolidated’s dividend payout ratio (DPR) is presently 4.12%.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded 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 hedge funds have recently modified their holdings of COKE. Envestnet Portfolio Solutions Inc. bought a new stake in shares of Coca-Cola Consolidated in the 3rd quarter worth approximately $220,000. Envestnet Asset Management Inc. raised its holdings in shares of Coca-Cola Consolidated by 22.8% in the 3rd quarter. Envestnet Asset Management Inc. now owns 4,795 shares of the company’s stock worth $3,051,000 after purchasing an additional 889 shares during the period. Mariner LLC raised its holdings in shares of Coca-Cola Consolidated by 17.0% in the 3rd quarter. Mariner LLC now owns 779 shares of the company’s stock worth $495,000 after purchasing an additional 113 shares during the period. Gotham Asset Management LLC raised its holdings in shares of Coca-Cola Consolidated by 159.6% in the 3rd quarter. Gotham Asset Management LLC now owns 3,899 shares of the company’s stock worth $2,481,000 after purchasing an additional 2,397 shares during the period. Finally, AQR Capital Management LLC raised 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 acquiring an additional 7,336 shares during the period. Institutional investors own 48.24% of the company’s stock.

About Coca-Cola Consolidated

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.