Hobbs Group Advisors LLC Takes $561,000 Position in Coca-Cola Consolidated, Inc. $COKE

Hobbs Group Advisors LLC bought a new stake in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 3,662 shares of the company’s stock, valued at approximately $561,000.

Other large investors also recently modified their holdings of the company. Boston Partners grew its stake in Coca-Cola Consolidated by 3.4% in the third quarter. Boston Partners now owns 2,160,088 shares of the company’s stock worth $253,207,000 after purchasing an additional 70,212 shares in the last quarter. State Street Corp grew its stake in Coca-Cola Consolidated by 836.9% in the second quarter. State Street Corp now owns 1,729,065 shares of the company’s stock worth $193,050,000 after purchasing an additional 1,544,516 shares in the last quarter. First Trust Advisors LP grew its stake in Coca-Cola Consolidated by 119.3% in the third quarter. First Trust Advisors LP now owns 1,433,570 shares of the company’s stock worth $167,957,000 after purchasing an additional 779,915 shares in the last quarter. AQR Capital Management LLC grew its stake in Coca-Cola Consolidated by 15.5% in the third quarter. AQR Capital Management LLC now owns 1,369,718 shares of the company’s stock worth $160,476,000 after purchasing an additional 183,781 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Coca-Cola Consolidated by 9.0% in the third quarter. Dimensional Fund Advisors LP now owns 1,170,476 shares of the company’s stock worth $137,125,000 after purchasing an additional 96,453 shares in the last quarter. 48.24% of the stock is currently owned by institutional investors and hedge funds.

Coca-Cola Consolidated Stock Down 0.7%

NASDAQ:COKE opened at $184.60 on Wednesday. The company has a market capitalization of $12.29 billion, a price-to-earnings ratio of 27.08 and a beta of 0.61. Coca-Cola Consolidated, Inc. has a one year low of $105.21 and a one year high of $219.65. The stock has a 50-day simple moving average of $193.61 and a 200 day simple moving average of $165.04. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.97 and a current ratio of 1.26.

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

Coca-Cola Consolidated Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 8th. Investors of record on Friday, April 24th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date is Friday, April 24th. Coca-Cola Consolidated’s dividend payout ratio (DPR) is 14.66%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated 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, Based on data from MarketBeat.com, the company currently has an average 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.