5 Stocks in the Spotlight Following First-Quarter Results

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

Number of Hedge Fund Holders: 70

Shares of The Coca-Cola Company (NYSE:KO) recently hit an all-time high of $67.20 after delivering impressive profit and sales for the first quarter. The Atlanta-based beverage giant reported adjusted earnings of 64 cents per share, representing a decent surge of 16 percent over the first quarter of 2021.

Revenue for the quarter also climbed 16 percent on a year-over-year basis to $10.49 billion. Analysts were expecting The Coca-Cola Company (NYSE:KO) to report earnings of 58 cents per share on revenue of $9.83 billion.

Among other updates, The Coca-Cola Company (NYSE:KO) announced that its global unit case volume for the quarter rose 8 percent, while the operating margin increased 230 basis points to 32.5 percent.

Looking forward, The Coca-Cola Company (NYSE:KO) reaffirmed its financial outlook for 2022 despite the suspension of Russian operations. It continues to anticipate adjusted earnings per share growth in the range of 5 – 6 percent and sales growth of 7 – 8 percent.

Praising the latest results, CEO James Quincey said:

“We are pleased with our first quarter results as our company continues to execute effectively in a highly dynamic and uncertain operating environment. We remain true to our purpose and are staying close to consumers. We are confident in our full-year guidance, and we are well-equipped to win in all types of environments as we fuel strong topline momentum and create value for our stakeholders.”

You can also take a peek at 10 Best Micro-Cap Stocks to Buy According to Hedge Funds and 10 Undervalued Dividend Kings To Buy In 2022.

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