Coca-Cola Consolidated, Inc. (NASDAQ:COKE) Position Increased by Mezzasalma Advisors LLC

Mezzasalma Advisors LLC increased its stake in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) by 48.3% in the first quarter, Holdings Channel.com reports. The institutional investor owned 666 shares of the company’s stock after acquiring an additional 217 shares during the period. Mezzasalma Advisors LLC’s holdings in Coca-Cola Consolidated were worth $899,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in COKE. Allworth Financial LP grew its position in shares of Coca-Cola Consolidated by 260.0% during the fourth quarter. Allworth Financial LP now owns 36 shares of the company’s stock worth $48,000 after acquiring an additional 26 shares during the last quarter. Transce3nd LLC acquired a new position in Coca-Cola Consolidated during the 4th quarter valued at about $63,000. Fifth Third Bancorp grew its position in Coca-Cola Consolidated by 40.9% in the 1st quarter. Fifth Third Bancorp now owns 62 shares of the company’s stock worth $84,000 after purchasing an additional 18 shares during the last quarter. Signaturefd LLC increased its stake in shares of Coca-Cola Consolidated by 36.7% in the fourth quarter. Signaturefd LLC now owns 82 shares of the company’s stock valued at $103,000 after purchasing an additional 22 shares during the period. Finally, UMB Bank n.a. increased its stake in shares of Coca-Cola Consolidated by 70.6% in the first quarter. UMB Bank n.a. now owns 87 shares of the company’s stock valued at $117,000 after purchasing an additional 36 shares during the period. 48.24% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Wall Street Zen downgraded Coca-Cola Consolidated from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 10th.

Coca-Cola Consolidated Stock Down 1.3%

Shares of Coca-Cola Consolidated stock opened at $105.72 on Wednesday. The company has a debt-to-equity ratio of 0.96, a current ratio of 2.03 and a quick ratio of 1.76. Coca-Cola Consolidated, Inc. has a 1-year low of $96.50 and a 1-year high of $146.09. The business’s fifty day moving average price is $141.87 and its two-hundred day moving average price is $135.58. The company has a market capitalization of $9.22 billion, a P/E ratio of 16.50 and a beta of 0.81.

Coca-Cola Consolidated (NASDAQ:COKE) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $1.56 EPS for the quarter. Coca-Cola Consolidated had a return on equity of 48.35% and a net margin of 8.29%. The company had revenue of $1.58 billion for the quarter.

Coca-Cola Consolidated Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 9th. Investors of record on Friday, April 25th were given a $0.25 dividend. The ex-dividend date of this dividend was Friday, April 25th. This represents a $1.00 dividend on an annualized basis and a yield of 0.95%. Coca-Cola Consolidated’s dividend payout ratio is presently 15.60%.

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.