Short Interest in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) Rises By 23.1%

Coca-Cola Consolidated, Inc. (NASDAQ:COKE) saw a significant growth in short interest in the month of December. As of December 31st, there was short interest totaling 1,270,789 shares, a growth of 23.1% from the December 15th total of 1,032,518 shares. Based on an average trading volume of 668,514 shares, the days-to-cover ratio is currently 1.9 days. Approximately 1.5% of the shares of the company are short sold. Approximately 1.5% of the shares of the company are short sold. Based on an average trading volume of 668,514 shares, the days-to-cover ratio is currently 1.9 days.

Coca-Cola Consolidated Price Performance

NASDAQ COKE traded up $0.63 during trading hours on Monday, reaching $151.48. The company’s stock had a trading volume of 445,859 shares, compared to its average volume of 503,943. The firm has a market capitalization of $12.94 billion, a price-to-earnings ratio of 21.57 and a beta of 0.65. The company’s 50-day moving average is $158.91 and its two-hundred day moving average is $133.38. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.04 and a quick ratio of 1.79. Coca-Cola Consolidated has a 1-year low of $105.21 and a 1-year high of $169.49.

Coca-Cola Consolidated Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 6th. Stockholders of record on Friday, January 23rd will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, January 23rd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.7%. Coca-Cola Consolidated’s payout ratio is currently 14.25%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of COKE. Quarry LP acquired a new position in shares of Coca-Cola Consolidated during the third quarter valued at approximately $25,000. Advisory Services Network LLC acquired a new stake in shares of Coca-Cola Consolidated in the third quarter worth approximately $25,000. Smartleaf Asset Management LLC increased its position in shares of Coca-Cola Consolidated by 175.0% during the third quarter. Smartleaf Asset Management LLC now owns 220 shares of the company’s stock worth $26,000 after purchasing an additional 140 shares in the last quarter. Root Financial Partners LLC acquired a new position in Coca-Cola Consolidated in the 3rd quarter valued at $26,000. Finally, Nomura Asset Management Co. Ltd. lifted its holdings in Coca-Cola Consolidated by 900.0% in the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 230 shares of the company’s stock valued at $26,000 after purchasing an additional 207 shares in the last quarter. 48.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Coca-Cola Consolidated in a research note on Monday, December 29th. One research analyst has rated the stock with a Buy rating, According to MarketBeat, the stock has a consensus rating of “Buy”.

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.