Mezzasalma Advisors LLC Purchases 2,852 Shares of Coca-Cola Consolidated, Inc. $COKE

Mezzasalma Advisors LLC raised its position in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) by 29.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,512 shares of the company’s stock after acquiring an additional 2,852 shares during the quarter. Mezzasalma Advisors LLC’s holdings in Coca-Cola Consolidated were worth $1,875,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. State Street Corp raised 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 purchasing an additional 1,544,516 shares during the period. AQR Capital Management LLC increased its position in Coca-Cola Consolidated by 1,270.8% during the second quarter. AQR Capital Management LLC now owns 1,185,937 shares of the company’s stock worth $131,906,000 after buying an additional 1,099,421 shares during the last quarter. First Trust Advisors LP increased its position in Coca-Cola Consolidated by 119.3% during the third quarter. First Trust Advisors LP now owns 1,433,570 shares of the company’s stock worth $167,957,000 after buying an additional 779,915 shares during the last quarter. Invesco Ltd. raised its stake in Coca-Cola Consolidated by 391.7% in the second quarter. Invesco Ltd. now owns 550,492 shares of the company’s stock valued at $61,462,000 after buying an additional 438,534 shares during the period. Finally, Raymond James Financial Inc. raised its stake in Coca-Cola Consolidated by 1,084.4% in the second quarter. Raymond James Financial Inc. now owns 345,059 shares of the company’s stock valued at $38,526,000 after buying an additional 315,925 shares during the period. Institutional investors own 48.24% of the company’s stock.

Coca-Cola Consolidated Stock Performance

NASDAQ:COKE opened at $194.69 on Monday. The stock has a 50 day simple moving average of $183.60 and a 200 day simple moving average of $158.39. The stock has a market cap of $12.96 billion, a P/E ratio of 28.56 and a beta of 0.61. Coca-Cola Consolidated, Inc. has a 1-year low of $105.21 and a 1-year high of $219.65. The company has a current ratio of 1.26, a quick ratio of 0.97 and a debt-to-equity ratio of 0.88.

Coca-Cola Consolidated (NASDAQ:COKE) last issued its quarterly earnings data on Wednesday, February 18th. The company reported $2.11 EPS for the quarter. The firm had revenue of $1.90 billion for the quarter. Coca-Cola Consolidated had a return on equity of 66.42% and a net margin of 7.89%.

Coca-Cola Consolidated Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 6th. Investors of record on Friday, January 23rd were paid a $0.25 dividend. The ex-dividend date was Friday, January 23rd. This represents a $1.00 annualized dividend and a dividend yield of 0.5%. Coca-Cola Consolidated’s dividend payout ratio is 14.66%.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “buy (b)” rating on shares of Coca-Cola Consolidated in a report on Friday, March 27th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Coca-Cola Consolidated has a consensus rating of “Buy”.

Coca-Cola Consolidated Company Profile

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.