Mezzasalma Advisors LLC Has $850,000 Stock Position in Coca-Cola Consolidated, Inc. $COKE

Key Points

• Mezzasalma Advisors LLC has significantly increased its stake in Coca-Cola Consolidated, raising its position by 1,043.1% to a total of 7,613 shares valued at approximately $850,000.
• Recent analyst ratings for Coca-Cola Consolidated upgraded the stock from a "hold" to a "buy," with a consensus rating of "Buy" among analysts.
• The company declared a quarterly dividend of $0.25 per share, with an annual yield of 0.8%, scheduled to be paid on November 7th.

Mezzasalma Advisors LLC lifted its stake in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) by 1,043.1% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,613 shares of the company's stock after purchasing an additional 6,947 shares during the period. Mezzasalma Advisors LLC's holdings in Coca-Cola Consolidated were worth $850,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Wayfinding Financial LLC acquired a new position in Coca-Cola Consolidated during the first quarter worth $46,000. Semmax Financial Advisors Inc. bought a new position in shares of Coca-Cola Consolidated in the 1st quarter valued at about $50,000. Allworth Financial LP increased its stake in shares of Coca-Cola Consolidated by 58.3% during the 1st quarter. Allworth Financial LP now owns 57 shares of the company's stock worth $79,000 after purchasing an additional 21 shares during the last quarter. Fifth Third Bancorp raised its holdings in shares of Coca-Cola Consolidated by 40.9% in the 1st quarter. Fifth Third Bancorp now owns 62 shares of the company's stock valued at $84,000 after purchasing an additional 18 shares during the period. Finally, Spire Wealth Management raised its holdings in shares of Coca-Cola Consolidated by 115.6% in the 1st quarter. Spire Wealth Management now owns 69 shares of the company's stock valued at $92,000 after purchasing an additional 37 shares during the period. Institutional investors and hedge funds own 48.24% of the company's stock.

Analyst Ratings Changes

COKE has been the subject of a number of research analyst reports. Wall Street Zen upgraded Coca-Cola Consolidated from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Weiss Ratings upgraded Coca-Cola Consolidated from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, Coca-Cola Consolidated presently has a consensus rating of "Buy".

Coca-Cola Consolidated Stock Up 0.8%

Shares of COKE opened at $131.68 on Friday. The firm has a market cap of $11.44 billion, a P/E ratio of 19.65 and a beta of 0.70. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.78 and a current ratio of 2.04. Coca-Cola Consolidated, Inc. has a 52 week low of $105.21 and a 52 week high of $146.09. The firm's 50-day simple moving average is $118.91 and its 200 day simple moving average is $125.84.

Coca-Cola Consolidated (NASDAQ:COKE - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The company reported $2.24 earnings per share (EPS) for the quarter. Coca-Cola Consolidated had a return on equity of 44.91% and a net margin of 8.43%.The company had revenue of $1.86 billion during the quarter.

Coca-Cola Consolidated Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 7th. Shareholders of record on Friday, October 24th will be given a dividend of $0.25 per share. The ex-dividend date is Friday, October 24th. This represents a $1.00 annualized dividend and a yield of 0.8%. Coca-Cola Consolidated's dividend payout ratio (DPR) is presently 14.93%.

About Coca-Cola Consolidated

Coca-Cola Consolidated, Inc, together with its subsidiaries, manufactures, markets, and distributes nonalcoholic beverages primarily products of The Coca-Cola Company in the United States. The company offers sparkling beverages; and still beverages, including energy products, as well as noncarbonated beverages comprising bottled water, ready to drink coffee and tea, enhanced water, juices, and sports drinks.

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