Coca-Cola Meets Expectations in Fourth Quarter; Shares Slightly Undervalued
Coca-Cola’s fourth-quarter results were largely in line with our expectations, with strengthening price/mix driving 3% organic revenue growth for the year, and we stand by our $44.50 fair value estimate. We were pleased to see consolidated price/mix grow 3% this year (compared with 2% last year) and expect continued price/pack management to help offset slowing carbonated soft drink sales (flat unit case volume in 2016, compared with 1% growth in 2015). Still beverages (roughly 30% of sales) expe...Coca-Cola is a nonalcoholic beverage company. The company owns or licenses and markets nonalcoholic beverage brands, which it groups into the following category clusters: sparkling soft drinks; water, enhanced water and sports drinks; juice, dairy and plant-based beverages; tea and coffee; and energy drinks. The company's nonalcoholic sparkling soft drink brands are Coca-Cola, Diet Coke, Fanta and Sprite. The company markets, manufactures and sells beverage concentrates and syrups, including fountain syrups; and finished sparkling soft drinks and other nonalcoholic beverages. The company's segments are Europe, Middle East and Africa; Latin America; North America; Asia Pacific; Global Ventures; and Bottling Investments.
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Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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