5 Best FMCG Stocks To Buy Now

4. The Coca-Cola Company (NYSE:KO) 

Number of Hedge Fund Holders: 62

The Coca-Cola Company (NYSE:KO) is an American multinational beverage corporation that has been in business since 1892. The company offers 200 brands worldwide, that include Coca Cola, Sprite, Fanta, Costa Coffee, Schweppes, Fresca, and Minute Maid, among others. 

The Coca-Cola Company (NYSE:KO) is a popular FMCG stock among the smart money. As of the second quarter of 2021, 62 hedge funds in the database of Insider Monkey’s elite funds reported owning stakes in The Coca-Cola Company (NYSE:KO), with stakes worth approximately $25 billion. 

The Coca-Cola Company (NYSE:KO) acquired Bodyarmor SuperDrink, an American sports drink company, on November 1 for $5.6 billion, paid in cash. Consequently, Morgan Stanley analyst Dara Mohsenian stated that if Bodyarmor grows by 40%, The Coca-Cola Company (NYSE:KO)’s organic sales will increase by 85 basis points. The analyst kept an Overweight rating on the stock, setting a $65 price target on The Coca-Cola Company (NYSE:KO). 

On October 27, The Coca-Cola Company (NYSE:KO) reported Q3 results. EPS for the period equaled $0.65, exceeding estimates by $0.07. Revenue for Q3 came in at $10.04 billion, beating estimated revenue by $321.89 million.