Billionaire Ray Dalio’s 5 Long-Term Stock Picks

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

Bridgewater Associates’ Stake Value: $642.39 million

Percentage of Bridgewater Associates’ 13F Portfolio: 3.25%

Number of Hedge Fund Holders: 59

The Coca-Cola Company (NYSE:KO) is an American multinational beverage corporation that manufactures, sells, and markets other non-alcoholic beverage concentrates and syrups, and alcoholic beverages. The company is best known as the producer of Coca-Cola. The Coca-Cola Company (NYSE:KO) has been a part of Bridgewater Associates’ 13F portfolio since the fourth quarter of 2010 and accounted for 3.25% of billionaire Ray Dalio’s portfolio at the close of Q3 2022.

On October 26, UBS analyst Peter Grom raised the price target on The Coca-Cola Company (NYSE:KO) to $68 from $63 and kept a Buy rating on the shares. The analyst believes that the company’s Q3 earnings beat was “impressive” as its organic growth more than offset incremental currency headwinds. According to Grom, Coca-Cola’s risk/reward looks favorable as shares have underperformed of late, and the company has potential for stronger revenue growth to drive a sustained premium compared to its competitors.

According to the third quarter database of Insider Monkey, 59 hedge funds were bullish on The Coca-Cola Company (NYSE:KO), compared to 60 funds in the earlier quarter. Warren Buffett’s Berkshire Hathaway is the largest stakeholder of the company, with 400 million shares worth $22.40 billion.

Carillon Tower Advisers made the following comment about The Coca-Cola Company (NYSE:KO) in its Q3 2022 investor letter:

“Shares of The Coca-Cola Company (NYSE:KO) sold off with consumer staples even as the company reported strong pricing for the second quarter. On average, product prices rose with management hinting at further momentum.”