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Coca-Cola (KO), the main rival to PepsiCo (PEP), closed higher by nearly 1.6% while the Dow received a beating. Shares of the beverage giant settled at $54.08. The market gave its approval to the company's latest earnings report.
I have Coke in my portfolio as a long-term holding, and I was pretty satisfied with the numbers. What I want from a quarterly report is an indication that the business continues to remain on a stable track to deliver quality future cash flows (I'm not expecting anything too exciting, for the most part). I believe investors essentially got that on Wednesday.
According to DailyFinance, adjusted second-quarter profit of $1.06 per share went beyond the estimate by three pennies. Great, but check out the company's cash-flow statement. Cash from operations jumped from roughly $3.7 billion to $4.3 billion for the six-month frame. I approve.
Actually, there might have been one exciting element to the story this time around. This piece talks about the progress made in the North American territory, where Coke has seen challenges. I am impressed by the achievement, but make no mistake, management still has to step up its game when it comes to the sales channels in this part of the world.
The stock is trading at a nice yield, as I observed back in June. I think Coke's prospects are strong, although I don't necessarily see the shares breaking above the 52-week high of $59.45 anytime soon. The trading environment is simply too tough for that. But for those who enjoy dividends backed by powerful brand equity, some research on this name might be warranted.
Disclosure: I own Coke; positions can change without notice.
Actually, there might have been one exciting element to the story this time around. This piece talks about the progress made in the North American territory, where Coke has seen challenges. I am impressed by the achievement, but make no mistake, management still has to step up its game when it comes to the sales channels in this part of the world.
The stock is trading at a nice yield, as I observed back in June. I think Coke's prospects are strong, although I don't necessarily see the shares breaking above the 52-week high of $59.45 anytime soon. The trading environment is simply too tough for that. But for those who enjoy dividends backed by powerful brand equity, some research on this name might be warranted.
Disclosure: I own Coke; positions can change without notice.
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