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

Langley Wealth Management LLC acquired a new stake in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) during the second quarter, according to its most recent disclosure with the SEC. The fund acquired 16,066 shares of the company’s stock, valued at approximately $126,000. Coca-Cola Consolidated makes up about 0.9% of Langley Wealth Management LLC’s holdings, making the stock its 28th largest position.

Other hedge funds also recently made changes to their positions in the company. State Street Corp increased its holdings in Coca-Cola Consolidated by 836.9% in the 2nd quarter. State Street Corp now owns 1,729,065 shares of the company’s stock worth $193,050,000 after acquiring an additional 1,544,516 shares in the last quarter. Norges Bank purchased a new position in Coca-Cola Consolidated during the fourth quarter valued at approximately $222,408,000. AQR Capital Management LLC lifted its holdings in 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 in the last quarter. First Trust Advisors LP boosted its position in shares of Coca-Cola Consolidated by 42.1% in the fourth 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 during the period. Finally, Northwestern Mutual Wealth Management Co. boosted its position in shares of Coca-Cola Consolidated by 153,487.1% in the fourth 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 during the period. 48.24% of the stock is currently owned by institutional investors.

Coca-Cola Consolidated Trading Down 0.6%

NASDAQ:COKE 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 50-day moving average price of $184.81 and a 200 day moving average price of $184.46. The stock has a market capitalization of $12.59 billion, a P/E 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 EPS for the quarter. Coca-Cola Consolidated had a negative return on equity of 1,041.59% and a net margin of 7.15%.The company had revenue of $2.05 billion for the quarter.

Coca-Cola Consolidated Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 7th. Stockholders of record on Friday, July 24th were given a dividend of $0.25 per share. 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 presently 13.26%.

Wall Street Analyst Weigh In

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