Langley Wealth Management LLC Invests $126,000 in Coca-Cola Consolidated, Inc. $COKE

Key Points

• Langley Wealth Management purchased 16,066 shares of Coca-Cola Consolidated valued at approximately $126,000, representing 0.9% of its portfolio. Institutional investors collectively own 48.24% of the company.
• Coca-Cola Consolidated reported quarterly earnings of $2.83 per share on $2.05 billion in revenue, with a 7.15% net margin. Shares opened at $189.11, compared with a 12-month range of $110.60 to $219.65.
• The company paid a quarterly dividend of $0.25, equal to an annualized $1.00 dividend and a 0.5% yield. Analyst sentiment remains generally positive, with the stock carrying an average “Buy” rating despite one recent downgrade to “Hold.”

Langley Wealth Management LLC purchased a new position in Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 16,066 shares of the company's stock, valued at approximately $126,000. Coca-Cola Consolidated makes up 0.9% of Langley Wealth Management LLC's portfolio, making the stock its 28th biggest holding.

Other large investors also recently bought and sold shares of the company. State Street Corp grew its holdings in Coca-Cola Consolidated by 836.9% in the second quarter. State Street Corp now owns 1,729,065 shares of the company's stock worth $193,050,000 after purchasing an additional 1,544,516 shares during the period. Norges Bank purchased a new position in shares of Coca-Cola Consolidated during the fourth quarter valued at approximately $222,408,000. AQR Capital Management LLC lifted its holdings in shares of 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 valued at $131,906,000 after purchasing an additional 1,099,421 shares during the last quarter. First Trust Advisors LP boosted its position in shares of Coca-Cola Consolidated by 42.1% in the 4th quarter. First Trust Advisors LP now owns 2,037,083 shares of the company's stock worth $312,285,000 after purchasing an additional 603,513 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its position in shares of Coca-Cola Consolidated by 153,487.1% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 417,757 shares of the company's stock worth $64,042,000 after purchasing an additional 417,485 shares in the last quarter. 48.24% of the stock is owned by hedge funds and other institutional investors.

Coca-Cola Consolidated Trading Down 0.6%

Shares of COKE stock opened at $189.11 on Friday. Coca-Cola Consolidated, Inc. has a 12 month low of $110.60 and a 12 month high of $219.65. The stock has a market cap of $12.59 billion, a P/E ratio of 25.08 and a beta of 0.55. The company has a 50 day simple moving average of $184.81 and a two-hundred day simple moving average of $184.46.

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

Coca-Cola Consolidated Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 7th. Investors of record on Friday, July 24th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend was Friday, July 24th. Coca-Cola Consolidated's dividend payout ratio (DPR) is currently 13.26%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Weiss Ratings restated a "buy (b)" rating on shares of Coca-Cola Consolidated in a research note on Wednesday, June 24th. Wall Street Zen cut shares of Coca-Cola Consolidated from a "buy" rating to a "hold" rating in a report on Saturday, August 8th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has an average 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.

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