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Is it more lucrative to make the syrup used in Coke, or bottle and distribute the stuff? The answer is pretty clear over the last five years. Shares of Charlotte-based Coca Cola Bottling Consolidated have gained 265%, while Coca-Cola Co. has increased 17%, excluding dividends.

Coke Consolidated was the best performer in the Capital Investment Cos./Nottingham Index of Carolinas-based public companies for the week ended May 26 among companies with shares trading for at least $10.

Best performers:

Coca-Cola Bottling Consolidated (COKE) — 10.4% — $225.67 –  CEO Frank Harrison and his family control 86% of voting power at company, which has market value of $2.1 billion. The company announced plans for new 135,000-square-foot expansion at its Greensboro plant.

Benefitfocus (BNFT) — 7% — $32.95 – Charleston, S.C.-based software company enables clients to manage benefits online. Seven of 10 analysts rate the company as a buy with average price target of $39.

Curtiss-Wright  (CW) — 5.2% — $89.33  Defense contractor rebounds after declining about 20% since December.

Biggest decliners:

SPX  (SPXC)  (-4.6%) — $25.13 — Charlotte-based industrial parts maker has gained 54% in the last year.

Lowe’s (LOW) (-4.4%) — $80.91  — Earnings disappointed investors as same-store sales increased 1.9% versus 2.9% projection  Shares now trade at same price as a year earlier.

World Acceptance (WLRD) (-2.9%) — $79.55 — Shares have rebounded 84% over the last year, including a surge earlier in May.

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