Mezzasalma Advisors LLC Acquires 10,695 Shares of Coca-Cola Consolidated, Inc. $COKE

Key Points

• Mezzasalma Advisors increased its Coca-Cola Consolidated stake by 53% during the third quarter, purchasing 10,695 additional shares and bringing its holdings to 30,890 shares valued at approximately $5.85 million.
• Institutional investors own 48.24% of COKE, while analyst sentiment remains broadly positive with a consensus “Buy” rating despite one downgrade to “Hold.”
• COKE shares recently rose 3.0% to $200.00. The company reported quarterly revenue of $2.05 billion and EPS of $2.83, and declared a $0.25 quarterly dividend, equivalent to a 0.5% yield.

Mezzasalma Advisors LLC lifted its holdings in Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) by 53.0% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 30,890 shares of the company's stock after purchasing an additional 10,695 shares during the period. Coca-Cola Consolidated comprises 1.2% of Mezzasalma Advisors LLC's holdings, making the stock its 26th biggest position. Mezzasalma Advisors LLC's holdings in Coca-Cola Consolidated were worth $5,847,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of COKE. Bessemer Group Inc. raised its stake in Coca-Cola Consolidated by 19.1% in the first quarter. Bessemer Group Inc. now owns 331 shares of the company's stock worth $63,000 after buying an additional 53 shares in the last quarter. Affinity Capital Advisors LLC lifted its holdings in Coca-Cola Consolidated by 4.0% during the third quarter. Affinity Capital Advisors LLC now owns 1,458 shares of the company's stock worth $286,000 after buying an additional 56 shares during the period. Concurrent Investment Advisors LLC lifted its holdings in Coca-Cola Consolidated by 4.9% during the second quarter. Concurrent Investment Advisors LLC now owns 1,228 shares of the company's stock worth $234,000 after buying an additional 57 shares during the period. Wealthfront Advisers LLC lifted its holdings in Coca-Cola Consolidated by 4.1% during the first quarter. Wealthfront Advisers LLC now owns 1,869 shares of the company's stock worth $358,000 after buying an additional 73 shares during the period. Finally, CoreCap Advisors LLC boosted its position in Coca-Cola Consolidated by 3.3% during the 3rd quarter. CoreCap Advisors LLC now owns 2,471 shares of the company's stock valued at $468,000 after acquiring an additional 78 shares in the last quarter. 48.24% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on COKE shares. Wall Street Zen downgraded Coca-Cola Consolidated from a "buy" rating to a "hold" rating in a report 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 equities research analyst has rated the stock with a Buy rating. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy".

Coca-Cola Consolidated Stock Up 3.0%

Shares of Coca-Cola Consolidated stock traded up $5.84 on Wednesday, reaching $200.00. The stock had a trading volume of 396,949 shares, compared to its average volume of 517,727. The company has a 50 day moving average price of $191.62 and a 200 day moving average price of $187.37. Coca-Cola Consolidated, Inc. has a 1 year low of $126.00 and a 1 year high of $219.65. The stock has a market capitalization of $13.31 billion, a P/E ratio of 26.53 and a beta of 0.55.

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

Coca-Cola Consolidated Announces Dividend

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

Coca-Cola Consolidated Company 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.

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