Bank of New York Mellon Corp Acquires Significant Stake in Coca-Cola Consolidated

Bank of New York Mellon Corp has acquired a new stake in Coca-Cola Consolidated, Inc., purchasing 402,631 shares worth approximately $76.87 million.

The company's stock was valued at around $192.54 per share as of the latest available data. This new acquisition represents about 0.60% of Coca-Cola Consolidated's outstanding shares.

Other institutional investors and hedge funds have also increased their stakes in COKE, including UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC, which raised its position by 8.7%, and Northwestern Mutual Wealth Management Co., which lifted its holdings by 1,587.5%.

The market capitalization of Coca-Cola Consolidated stands at $13.08 billion, with a price-to-earnings ratio of 26.07 and a beta of 0.55.