Coca-Cola Consolidated, Inc. (NASDAQ:COKE) Short Interest Up 22.9% in January

Coca-Cola Consolidated, Inc. (NASDAQ:COKE) was the recipient of a significant growth in short interest during the month of January. As of January 15th, there was short interest totaling 1,561,344 shares, a growth of 22.9% from the December 31st total of 1,270,789 shares. Approximately 1.8% of the company’s shares are sold short. Based on an average trading volume of 457,757 shares, the short-interest ratio is currently 3.4 days. Based on an average trading volume of 457,757 shares, the short-interest ratio is currently 3.4 days. Approximately 1.8% of the company’s shares are sold short.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of COKE. Vanguard Group Inc. raised its holdings in shares of Coca-Cola Consolidated by 6.4% during the fourth quarter. Vanguard Group Inc. now owns 5,686,058 shares of the company’s stock valued at $871,673,000 after purchasing an additional 341,374 shares during the period. Norges Bank bought a new stake in Coca-Cola Consolidated in the 2nd quarter valued at about $280,669,000. Boston Partners increased its position in Coca-Cola Consolidated by 3.4% in the 3rd quarter. Boston Partners now owns 2,160,088 shares of the company’s stock valued at $253,207,000 after buying an additional 70,212 shares in the last quarter. State Street Corp raised its stake in Coca-Cola Consolidated by 836.9% during the 2nd quarter. State Street Corp now owns 1,729,065 shares of the company’s stock worth $193,050,000 after buying an additional 1,544,516 shares during the period. Finally, First Trust Advisors LP raised its stake in Coca-Cola Consolidated by 119.3% during the 3rd quarter. First Trust Advisors LP now owns 1,433,570 shares of the company’s stock worth $167,957,000 after buying an additional 779,915 shares during the period. 48.24% of the stock is owned by institutional investors.

Coca-Cola Consolidated Trading Down 0.1%

Shares of Coca-Cola Consolidated stock traded down $0.10 on Tuesday, hitting $153.80. 56,383 shares of the company’s stock traded hands, compared to its average volume of 384,007. The company has a fifty day moving average of $157.25 and a two-hundred day moving average of $136.27. Coca-Cola Consolidated has a one year low of $105.21 and a one year high of $169.49. The company has a market capitalization of $13.14 billion, a price-to-earnings ratio of 21.88 and a beta of 0.64. 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 Announces Dividend

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

Analyst Upgrades and Downgrades

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