The Coca-Cola Co (KO) Sees Significant Increase in Short Interest
The Coca-Cola Co (NYSE:KO) saw a significant growth in short interest in the month of January. As of January 31st, there was short interest totalling 43,399,660 shares, a growth of 22.4% from the January 12th total of 35,456,091 shares. Currently, 1.0% of the company’s shares are short sold. Based on an average trading volume of 13,100,173 shares, the short-interest ratio is presently 3.3 days.
In related news, CFO Kathy N. Waller sold 23,240 shares of the stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $46.15, for a total value of $1,072,526.00. Following the completion of the transaction, the chief financial officer now directly owns 123,796 shares in the company, valued at $5,713,185.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ed Hays sold 84,400 shares of the stock in a transaction that occurred on Tuesday, January 23rd. The stock was sold at an average price of $47.50, for a total value of $4,009,000.00. The disclosure for this sale can be found here. Insiders sold 122,640 shares of company stock valued at $5,800,776 over the last quarter. 1.51% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Veritas Investment Management LLP acquired a new stake in The Coca-Cola in the third quarter valued at $135,000. Spectrum Management Group Inc. acquired a new stake in The Coca-Cola in the third quarter valued at $137,000. Legacy Advisors LLC purchased a new position in shares of The Coca-Cola during the third quarter worth about $139,000. Goodman Financial Corp purchased a new position in shares of The Coca-Cola during the fourth quarter worth about $143,000. Finally, Almanack Investment Partners LLC. purchased a new position in shares of The Coca-Cola during the second quarter worth about $142,000. Institutional investors and hedge funds own 65.39% of the company’s stock.
Shares of The Coca-Cola (KO) opened at $43.13 on Monday. The stock has a market capitalization of $183,760.00, a price-to-earnings ratio of 41.08, a PEG ratio of 3.48 and a beta of 0.70. The company has a quick ratio of 1.30, a current ratio of 1.39 and a debt-to-equity ratio of 1.47. The Coca-Cola has a 52 week low of $40.22 and a 52 week high of $48.62.
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The Coca-Cola Company Profile
The Coca-Cola Company is a beverage company. The Company owns or licenses and markets non-alcoholic beverage brands, primarily sparkling beverages and a range of still beverages, such as waters, flavored waters and enhanced waters, juices and juice drinks, ready-to-drink teas and coffees, sports drinks, dairy and energy drinks.
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