14 Best FMCG Stocks To Buy Now

6. The Coca-Cola Company (NYSE:KO)

Number of Hedge Fund Holders: 62

Established in 1892, The Coca-Cola Company (NYSE:KO) is a renowned American multinational corporation celebrated for its iconic beverage, Coca-Cola. Beyond its flagship product, the company is extensively involved in the manufacturing, distribution, and promotion of a diverse array of non-alcoholic beverage concentrates, syrups, and, notably, alcoholic beverages within the beverage industry.

Earlier this May, Argus increased its price target for The Coca-Cola Company (NYSE:KO) shares from $70.00 to $72.00, while reiterating a Buy rating. The firm praised Coca-Cola’s strategic shift towards diversifying its revenue streams beyond traditional sugary sodas. Management’s efforts to streamline the business by eliminating over 600 unproductive items in 2019, along with repositioning through product, packaging, and size changes, as well as strategic acquisitions like Costa Coffee, were highlighted as key steps in this transformation.

Furthermore, The Coca-Cola Company reported first-quarter diluted EPS of $0.74, up from $0.72 in the same period last year, exceeding analysts’ expectations. Revenue grew 2.9% year-over-year to $11.3 billion, also beating forecasts. The company attributed the revenue boost to a 13% increase in price/mix, despite a 2% decline in concentrate sales.

As of March of this year, Insider Monkey’s tracking identified 62 hedge funds with stakes in The Coca-Cola Company (NYSE:KO), the same as the prior quarter. The total value of these stakes amounted to nearly $28.5 billion.