Coca-Cola Consolidated, Inc. $COKE Shares Bought by Mezzasalma Advisors LLC

Mezzasalma Advisors LLC raised its holdings in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) by 53.0% in the third quarter, HoldingsChannel reports. The institutional investor owned 30,890 shares of the company’s stock after acquiring an additional 10,695 shares during the quarter. Coca-Cola Consolidated makes up about 1.2% of Mezzasalma Advisors LLC’s holdings, making the stock its 26th largest holding. Mezzasalma Advisors LLC’s holdings in Coca-Cola Consolidated were worth $5,847,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in COKE. BlackRock Inc. acquired a new stake in Coca-Cola Consolidated in the second quarter worth about $26,229,118,000. Biglari Sardar acquired a new position in shares of Coca-Cola Consolidated during the second quarter valued at about $8,959,855,000. Legal & General Group Plc acquired a new position in shares of Coca-Cola Consolidated during the second quarter valued at about $1,978,267,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Coca-Cola Consolidated during the second quarter valued at about $1,591,427,000. Finally, GQG Partners LLC purchased a new position in shares of Coca-Cola Consolidated in the 2nd quarter valued at approximately $1,494,498,000. 48.24% of the stock is currently owned by hedge funds and other institutional investors.

Coca-Cola Consolidated Price Performance

COKE traded up $5.84 on Wednesday, reaching $200.00. 396,949 shares of the stock were exchanged, compared to its average volume of 517,727. The company’s 50-day moving average price is $191.62 and its 200 day moving average price is $187.37. The firm has a market capitalization of $13.31 billion, a PE ratio of 26.53 and a beta of 0.55. Coca-Cola Consolidated, Inc. has a fifty-two week low of $126.00 and a fifty-two week high of $219.65.

Coca-Cola Consolidated (NASDAQ:COKE) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $2.83 earnings per share for the quarter. Coca-Cola Consolidated had a negative return on equity of 1,041.59% and a net margin of 7.15%. The business had revenue of $2.05 billion for the quarter.

Coca-Cola Consolidated Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 6th. Investors of record on Friday, October 23rd will be given a $0.25 dividend. The ex-dividend date is Friday, October 23rd. This represents a $1.00 dividend on an annualized basis and a yield of 0.5%. Coca-Cola Consolidated’s dividend payout ratio is currently 13.26%.

Analyst Upgrades and Downgrades

COKE has been the subject of a number of recent analyst reports. Wall Street Zen cut shares of Coca-Cola Consolidated from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Weiss Ratings reissued a “buy (b)” rating on shares of Coca-Cola Consolidated in a research report on Monday, September 21st. One research analyst has rated the stock with a Buy rating. According to data from MarketBeat, the stock currently has a consensus rating of “Buy”.

Coca-Cola Consolidated Profile

Coca-Cola Consolidated, Inc is the largest Coca-Cola bottler in the United States. Headquartered in Charlotte, North Carolina, the company manufactures, packages, distributes and sells a broad portfolio of nonalcoholic beverages, including Coca-Cola, Diet Coke, Coca-Cola Zero Sugar, Sprite, Fanta, DASANI, smartwater, POWERADE and Topo Chico, along with other brands owned or licensed by The Coca-Cola Company and additional beverage partners.

The company serves customers across a territory covering portions of the Southeast, Mid-Atlantic and Midwest, including Alabama, Florida, Georgia, Kentucky, Maryland, Mississippi, North Carolina, Ohio, Pennsylvania, South Carolina, Tennessee, Virginia and West Virginia, as well as the District of Columbia.