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

Laidlaw Wealth Management LLC bought a new stake in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 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 investment portfolio, making the stock its 16th biggest position.

Other institutional investors also recently added to or reduced their stakes in the company. Keebeck Wealth Management acquired a new stake in shares of Coca-Cola Consolidated in the second quarter valued at approximately $725,000. Keating Financial Advisory Services Inc. purchased a new stake in Coca-Cola Consolidated in the 2nd quarter valued at $588,000. Encore Global Management LP acquired a new stake in Coca-Cola Consolidated during the 2nd quarter worth $1,073,000. OneAscent Investment Solutions LLC acquired a new stake in Coca-Cola Consolidated during the 2nd quarter worth $224,000. Finally, Beckerman Institutional LLC purchased a new position in Coca-Cola Consolidated during the 2nd quarter worth $507,000. Institutional investors and hedge funds own 48.24% of the company’s stock.

Coca-Cola Consolidated Stock Performance

NASDAQ:COKE 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 stock has a fifty day moving average price of $185.00 and a two-hundred day moving average price of $185.77. The stock has a market capitalization of $12.59 billion, a price-to-earnings ratio of 25.08 and a beta of 0.55.

Coca-Cola Consolidated (NASDAQ:COKE) last issued its earnings results on Wednesday, August 5th. The company reported $2.83 EPS 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 business also recently disclosed a quarterly dividend, which was paid on Friday, August 7th. Investors of record on Friday, July 24th were paid a $0.25 dividend. The ex-dividend date was Friday, July 24th. This represents a $1.00 annualized dividend and a dividend yield of 0.5%. Coca-Cola Consolidated’s dividend payout ratio (DPR) is 13.26%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Weiss Ratings restated a “buy (b)” rating on shares of Coca-Cola Consolidated in a research note on Wednesday, June 24th. Wall Street Zen lowered Coca-Cola Consolidated from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company presently 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.