Top 5 Gainers Today

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

Number of Hedge Fund Holders: 64

The Coca-Cola Company (NYSE:KO) just posted better-than-expected financial results for the second quarter and raised its organic sales outlook for the full year. The company’s shares rose nearly two percent this morning following the results.

The beverage giant reported adjusted earnings of 70 cents per share, topping the expectations of 67 cents per share. In addition, The Coca-Cola Company (NYSE:KO) generated revenue of $11.3 billion in the quarter, surpassing estimates of $10.56 billion.

The Coca-Cola Company (NYSE:KO) also raised its sales outlook for the full year, despite a potential negative currency effect. The company now anticipates organic sales growth of 12 – 13 percent versus its previous guidance of 7 – 8 percent.

Separately, The Coca-Cola Company (NYSE:KO) appeared in the first-quarter 2022 investor letter of investment management firm ClearBridge Investments. Here’s what the firm said:

“Over the last year, we have repositioned our portfolio to navigate the course we see ahead. We added to more defensive areas of the portfolio like consumer staples (Coca-Cola). While the next month or two will likely prove choppy on account of the Omicron variant, we believe that Omicron, like Delta, represents a speed bump on the way to recovery rather than a true change in course. We see strong economic momentum continuing in 2022 and we expect interest rates to rise. After a decade of remarkably low rates, we would not be surprised if this change in direction is accompanied by some fits and starts in the markets. With our emphasis on pricing power, purposeful sector exposure, valuation discipline, and a strong dividend profile, we believe we are well-positioned for the year ahead.”

You can also take a peek at Billionaire Nelson Peltz’s Top 7 Stock Picks and Jim Cramer Recommends These 10 Stocks For Recession.

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