Ken Griffin Stock Portfolio: 10 Stocks to Buy

5. The Coca-Cola Company (NYSE:KO)

Citadel Investment Group’s Stake: $787.1 million

Founded in 1892, The Coca-Cola Company (NYSE:KO) is a leading American multinational known for its signature beverage, Coca-Cola. Beyond this iconic drink, the company produces, distributes, and markets a broad portfolio of non-alcoholic beverages, syrups, and now even includes alcoholic options within the beverage sector.

On September 17, The Coca-Cola Company (NYSE:KO) and Bacardi Limited announced a partnership to launch a ready-to-drink (RTD) cocktail featuring BACARDI rum mixed with Coca‑Cola, offering consumers the classic combination in a convenient, pre-mixed format.

BNP Paribas Exane adjusted its outlook on The Coca-Cola Company (NYSE:KO) on October 25, lowering the price target slightly from $78 to $76 but keeping an Outperform rating. This update followed The Coca-Cola Company’s third-quarter results, which beat expectations for revenue and earnings but showed some volume concerns. The company reported a 9% organic sales growth (OSG), above the forecasted 6.3%, and an EPS of $0.77, surpassing the anticipated $0.74. However, unit case volume saw a slight dip of 1% instead of the expected 0.5% increase.

Looking ahead to fiscal year 2024, the beverage giant raised its OSG forecast to approximately 10%, up from its prior range of 9-10%, primarily due to strong pricing power in inflationary regions. Its all-in EPS growth projection remains at 5-6%, translating to an EPS range of about $2.82-$2.85, in line with market expectations.