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

Coca-Cola Consolidated, Inc. (NASDAQ:COKE) was the target of a large increase in short interest in the month of April. As of April 15th, there was short interest totaling 1,561,950 shares, an increase of 23.6% from the March 31st total of 1,263,587 shares. Based on an average trading volume of 456,802 shares, the short-interest ratio is presently 3.4 days. Approximately 2.3% of the company’s shares are short sold.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “buy (b)” rating on shares of Coca-Cola Consolidated in a research note on Friday, March 27th. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy”.

Hedge Funds Weigh In On Coca-Cola Consolidated

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in Coca-Cola Consolidated by 6.4% during the fourth quarter. Vanguard Group Inc. now owns 5,686,058 shares of the company’s stock worth $871,673,000 after buying an additional 341,374 shares during the last quarter. Boston Partners grew its stake in Coca-Cola Consolidated by 7.8% during the fourth quarter. Boston Partners now owns 2,329,643 shares of the company’s stock worth $357,091,000 after buying an additional 169,555 shares in the last quarter. First Trust Advisors LP increased its stake in shares of Coca-Cola Consolidated by 42.1% in the 4th quarter. First Trust Advisors LP now owns 2,037,083 shares of the company’s stock valued at $312,285,000 after purchasing an additional 603,513 shares during the last quarter. State Street Corp lifted its stake in Coca-Cola Consolidated by 836.9% in the 2nd quarter. State Street Corp now owns 1,729,065 shares of the company’s stock valued at $193,050,000 after purchasing an additional 1,544,516 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Coca-Cola Consolidated during the fourth quarter valued at about $222,408,000. 48.24% of the stock is owned by institutional investors and hedge funds.

Coca-Cola Consolidated Stock Down 0.6%

COKE stock traded down $1.15 during mid-day trading on Friday, hitting $203.92. The stock had a trading volume of 378,083 shares, compared to its average volume of 368,125. The company has a current ratio of 1.26, a quick ratio of 0.97 and a debt-to-equity ratio of 0.88. Coca-Cola Consolidated has a 1-year low of $105.21 and a 1-year high of $219.65. The company has a fifty day moving average of $197.96 and a 200 day moving average of $168.10. The stock has a market capitalization of $13.57 billion, a price-to-earnings ratio of 29.91 and a beta of 0.61.

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

Coca-Cola Consolidated Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 8th. Stockholders of record on Friday, April 24th will be given a dividend of $0.25 per share. The ex-dividend date is Friday, April 24th. This represents a $1.00 annualized dividend and a dividend yield of 0.5%. Coca-Cola Consolidated’s payout ratio is currently 14.66%.

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.