Coca-Cola Consolidated, Inc. (NASDAQ:COKE) Sees Significant Decline in Short Interest

Coca-Cola Consolidated, Inc. (NASDAQ:COKE) saw a significant drop in short interest in the month of November. As of November 30th, there was short interest totalling 62,900 shares, a drop of 17.2% from the November 15th total of 76,000 shares. Based on an average trading volume of 42,700 shares, the days-to-cover ratio is currently 1.5 days. Currently, 1.2% of the shares of the stock are sold short.

Coca-Cola Consolidated Price Performance

Shares of COKE traded down $3.51 during trading hours on Monday, hitting $1,266.23. The stock had a trading volume of 29,473 shares, compared to its average volume of 50,196. Coca-Cola Consolidated has a 52 week low of $800.76 and a 52 week high of $1,376.84. The stock has a market capitalization of $11.09 billion, a price-to-earnings ratio of 22.04 and a beta of 0.88. The company’s fifty day moving average is $1,255.49 and its two-hundred day moving average is $1,207.46. The company has a debt-to-equity ratio of 1.39, a current ratio of 2.47 and a quick ratio of 2.15.

Coca-Cola Consolidated (NASDAQ:COKE) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $18.81 earnings per share for the quarter. Coca-Cola Consolidated had a net margin of 7.81% and a return on equity of 46.94%. The company had revenue of $1.77 billion during the quarter.

Institutional Investors Weigh In On Coca-Cola Consolidated

A number of hedge funds and other institutional investors have recently bought and sold shares of COKE. Millennium Management LLC grew its holdings in shares of Coca-Cola Consolidated by 1,308.6% during the second quarter. Millennium Management LLC now owns 172,788 shares of the company’s stock worth $187,475,000 after purchasing an additional 160,521 shares during the last quarter. International Assets Investment Management LLC increased its position in Coca-Cola Consolidated by 74,390.2% in the 3rd quarter. International Assets Investment Management LLC now owns 152,705 shares of the company’s stock valued at $201,021,000 after acquiring an additional 152,500 shares in the last quarter. Wallace Capital Management Inc. bought a new position in shares of Coca-Cola Consolidated in the second quarter worth about $90,404,000. Vaughan Nelson Investment Management L.P. lifted its position in shares of Coca-Cola Consolidated by 88.0% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 112,156 shares of the company’s stock worth $121,689,000 after purchasing an additional 52,491 shares in the last quarter. Finally, Los Angeles Capital Management LLC grew its stake in shares of Coca-Cola Consolidated by 1,271.0% during the second quarter. Los Angeles Capital Management LLC now owns 32,067 shares of the company’s stock valued at $34,793,000 after purchasing an additional 29,728 shares during the last quarter. 48.24% of the stock is owned by institutional investors and hedge funds.

Coca-Cola Consolidated Company Profile

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.