Hobbs Group Advisors LLC Has $1.43 Million Holdings in Coca-Cola Consolidated, Inc. $COKE

Hobbs Group Advisors LLC grew its holdings in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) by 104.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 7,475 shares of the company’s stock after purchasing an additional 3,813 shares during the quarter. Hobbs Group Advisors LLC’s holdings in Coca-Cola Consolidated were worth $1,433,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of COKE. Vanguard Group Inc. boosted its position in Coca-Cola Consolidated by 6.4% in the 4th quarter. Vanguard Group Inc. now owns 5,686,058 shares of the company’s stock valued at $871,673,000 after buying an additional 341,374 shares during the last quarter. Boston Partners boosted its holdings 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 during the last quarter. First Trust Advisors LP boosted its stake in Coca-Cola Consolidated by 42.1% during the 4th quarter. First Trust Advisors LP now owns 2,037,083 shares of the company’s stock worth $312,285,000 after acquiring an additional 603,513 shares during the last quarter. State Street Corp grew its holdings in shares of 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 buying an additional 1,544,516 shares during the period. Finally, Norges Bank acquired a new position in Coca-Cola Consolidated in the fourth quarter valued at about $222,408,000. 48.24% of the stock is owned by institutional investors.

Coca-Cola Consolidated Stock Performance

Coca-Cola Consolidated stock opened at $189.83 on Friday. Coca-Cola Consolidated, Inc. has a 52 week low of $110.40 and a 52 week high of $219.65. The stock has a 50-day simple moving average of $182.34 and a 200 day simple moving average of $181.98. The stock has a market capitalization of $12.64 billion, a P/E ratio of 25.97 and a beta of 0.54.

Coca-Cola Consolidated (NASDAQ:COKE) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $1.79 earnings per share for the quarter. The business had revenue of $1.71 billion for the quarter. Coca-Cola Consolidated had a return on equity of 138.44% and a net margin of 7.72%.

Coca-Cola Consolidated Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 7th. Stockholders of record on Friday, July 24th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend is Friday, July 24th. Coca-Cola Consolidated’s dividend payout ratio is 13.68%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “buy (b)” rating on shares of Coca-Cola Consolidated in a report on Wednesday, June 24th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has a consensus 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.