Coca-Cola Consolidated, Inc. (NASDAQ:COKE) Short Interest Up 20.3% in April

Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Get Free Report) was the target of a large growth in short interest in April. As of April 15th, there was short interest totalling 81,700 shares, a growth of 20.3% from the March 31st total of 67,900 shares. Approximately 1.6% of the company's shares are short sold. Based on an average trading volume of 47,300 shares, the short-interest ratio is presently 1.7 days.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Coca-Cola Consolidated from a "buy" rating to a "strong-buy" rating in a report on Friday, May 2nd.

Hedge Funds Weigh In On Coca-Cola Consolidated

Hedge funds have recently modified their holdings of the stock. James Investment Research Inc. raised its holdings in shares of Coca-Cola Consolidated by 34.7% in the fourth quarter. James Investment Research Inc. now owns 1,825 shares of the company's stock worth $2,299,000 after buying an additional 470 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Coca-Cola Consolidated by 8.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 19,173 shares of the company's stock worth $25,239,000 after acquiring an additional 1,453 shares during the last quarter. CIBC Asset Management Inc lifted its position in Coca-Cola Consolidated by 5.1% during the 4th quarter. CIBC Asset Management Inc now owns 247 shares of the company's stock worth $311,000 after acquiring an additional 12 shares during the period. Franklin Resources Inc. grew its stake in Coca-Cola Consolidated by 133.5% during the 3rd quarter. Franklin Resources Inc. now owns 9,480 shares of the company's stock valued at $12,339,000 after purchasing an additional 5,420 shares during the last quarter. Finally, New Mexico Educational Retirement Board increased its holdings in shares of Coca-Cola Consolidated by 33.2% in the fourth quarter. New Mexico Educational Retirement Board now owns 1,199 shares of the company's stock valued at $1,511,000 after purchasing an additional 299 shares during the period. Institutional investors and hedge funds own 48.24% of the company's stock.

Coca-Cola Consolidated Stock Down 0.5 %

Shares of NASDAQ:COKE traded down $6.25 during trading hours on Thursday, hitting $1,187.36. The company's stock had a trading volume of 67,502 shares, compared to its average volume of 50,962. The company has a debt-to-equity ratio of 1.39, a current ratio of 2.47 and a quick ratio of 2.15. The firm's fifty day moving average price is $1,323.73 and its 200 day moving average price is $1,304.85. Coca-Cola Consolidated has a 52 week low of $925.08 and a 52 week high of $1,460.92. The company has a market capitalization of $10.35 billion, a price-to-earnings ratio of 17.00 and a beta of 0.89.

Coca-Cola Consolidated's stock is set to split before the market opens on Tuesday, May 27th. The 10-1 split was announced on Tuesday, March 4th. The newly minted shares will be issued to shareholders after the closing bell on Friday, May 23rd.

Coca-Cola Consolidated (NASDAQ:COKE - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $15.61 earnings per share (EPS) for the quarter. Coca-Cola Consolidated had a return on equity of 49.88% and a net margin of 9.18%. The business had revenue of $1.58 billion for the quarter.

Coca-Cola Consolidated Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 25th will be paid a dividend of $2.50 per share. The ex-dividend date of this dividend is Friday, April 25th. This represents a $10.00 dividend on an annualized basis and a dividend yield of 0.84%. Coca-Cola Consolidated's payout ratio is 15.61%.

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.