Laidlaw Wealth Management LLC Invests $639,000 in Coca-Cola Consolidated, Inc. $COKE

Laidlaw Wealth Management LLC purchased a new position in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 7,867 shares of the company’s stock, valued at approximately $639,000. Coca-Cola Consolidated accounts for about 1.8% of Laidlaw Wealth Management LLC’s portfolio, making the stock its 16th largest holding.

Other hedge funds have also recently bought and sold shares of the company. Bessemer Group Inc. boosted its position in Coca-Cola Consolidated by 19.1% during the first quarter. Bessemer Group Inc. now owns 331 shares of the company’s stock worth $63,000 after purchasing an additional 53 shares in the last quarter. Beacon Pointe Advisors LLC increased its position in shares of Coca-Cola Consolidated by 2.6% in the fourth quarter. Beacon Pointe Advisors LLC now owns 2,842 shares of the company’s stock valued at $436,000 after buying an additional 72 shares in the last quarter. Wealthfront Advisers LLC increased its position in shares of Coca-Cola Consolidated by 4.1% in the first quarter. Wealthfront Advisers LLC now owns 1,869 shares of the company’s stock valued at $358,000 after buying an additional 73 shares in the last quarter. UMB Bank n.a. raised its stake in shares of Coca-Cola Consolidated by 8.9% during the 4th quarter. UMB Bank n.a. now owns 951 shares of the company’s stock worth $146,000 after buying an additional 78 shares during the last quarter. Finally, Private Advisor Group LLC boosted its position in shares of Coca-Cola Consolidated by 2.2% in the 3rd quarter. Private Advisor Group LLC now owns 4,297 shares of the company’s stock worth $503,000 after buying an additional 94 shares in the last quarter. 48.24% of the stock is owned by hedge funds and other institutional investors.

Coca-Cola Consolidated Stock Performance

Coca-Cola Consolidated stock opened at $189.10 on Friday. Coca-Cola Consolidated, Inc. has a 1 year low of $110.60 and a 1 year high of $219.65. The firm has a 50 day moving average price of $185.00 and a 200 day moving average price of $185.77. The company has a market cap of $12.59 billion, a price-to-earnings ratio of 25.08 and a beta of 0.55.

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

Coca-Cola Consolidated Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 7th. Shareholders of record on Friday, July 24th were paid a dividend of $0.25 per share. The ex-dividend date was Friday, July 24th. This represents a $1.00 annualized dividend and a yield of 0.5%. Coca-Cola Consolidated’s dividend payout ratio is currently 13.26%.

Wall Street Analyst Weigh In

Several research firms have weighed in on COKE. Weiss Ratings restated a “buy (b)” rating on shares of Coca-Cola Consolidated in a report on Wednesday, June 24th. Wall Street Zen lowered shares of Coca-Cola Consolidated from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy”.

About Coca-Cola Consolidated

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.