Hobbs Group Advisors LLC increased its holdings in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE – Free Report) by 104.1% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 7,475 shares of the company’s stock after buying an additional 3,813 shares during the quarter. Hobbs Group Advisors LLC’s holdings in Coca-Cola Consolidated were worth $1,433,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in the stock. Bessemer Group Inc. lifted its stake in shares of Coca-Cola Consolidated by 19.1% in the 1st quarter. Bessemer Group Inc. now owns 331 shares of the company’s stock valued at $63,000 after acquiring an additional 53 shares during the last quarter. Beacon Pointe Advisors LLC grew its position in Coca-Cola Consolidated by 2.6% during the 4th quarter. Beacon Pointe Advisors LLC now owns 2,842 shares of the company’s stock worth $436,000 after acquiring an additional 72 shares during the last quarter. Wealthfront Advisers LLC grew its position in Coca-Cola Consolidated by 4.1% during the 1st quarter. Wealthfront Advisers LLC now owns 1,869 shares of the company’s stock worth $358,000 after acquiring an additional 73 shares during the last quarter. UMB Bank n.a. increased its stake in shares of Coca-Cola Consolidated by 8.9% in the fourth quarter. UMB Bank n.a. now owns 951 shares of the company’s stock valued at $146,000 after buying an additional 78 shares during the period. Finally, Private Advisor Group LLC increased its position in Coca-Cola Consolidated by 2.2% in the 3rd quarter. Private Advisor Group LLC now owns 4,297 shares of the company’s stock valued at $503,000 after acquiring an additional 94 shares during the period. Institutional investors and hedge funds own 48.24% of the company’s stock.
Coca-Cola Consolidated Stock Performance
Shares of NASDAQ:COKE 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 business’s 50 day simple moving average is $182.34 and its two-hundred day simple moving average is $181.98. The firm has a market cap of $12.64 billion, a P/E ratio of 25.97 and a beta of 0.54.
Coca-Cola Consolidated Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, August 7th. Investors of record on Friday, July 24th will be issued a dividend of $0.25 per share. The ex-dividend date is Friday, July 24th. This represents a $1.00 annualized dividend and a yield of 0.5%. Coca-Cola Consolidated’s payout ratio is 13.68%.
Wall Street Analysts Forecast Growth
Separately, Weiss Ratings restated a “buy (b)” rating on shares of Coca-Cola Consolidated in a research report on Wednesday, June 24th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy”.
Get Our Latest Report on Coca-Cola Consolidated
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.
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