AllAnalyst Report
logoMorningstarJuly 23, 2021

The Coca-Cola Company: Coke Leveraging Process, Innovation, and Technology to Execute Against Postpandemic Ambitions

Symbols
KO
Sector(s)
Consumer Defensive
Rating
Current Price
$53.89
Fair Value
Economic Moat
Stewardship
Summary

Coca-Cola is the largest nonalcoholic beverage entity in the world, owning and marketing some of the leading carbonated beverage brands, such as Coke, Fanta, and Sprite, as well as nonsparkling brands, such as Minute Maid, Georgia Coffee, Costa, and Glaceau. Operationally, the firm focuses its manufacturing efforts early in the supply chain, making the concentrate (or beverage bases) for its drinks that are then processed and distributed by its network of more than 100 bottlers. Concentrate operations represent roughly 85% of the company’s unit case volume. The firm generates most of its revenue internationally, with countries like Mexico, Brazil, and Japan being key markets outside of the U.S.

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Analyst Profile

Nicholas Johnson

Equity Analyst
Nick Johnson is an equity analyst with the consumer team for Morningstar Research Services LLC, a wholly owned subsidiary of Morningstar, Inc. He covers companies primarily in the U.S. alcoholic and nonalcoholic beverage space, in addition to other consumer defensive names. He also serves on the valuation committee.Prior to joining the consumer team, Johnson was an associate on the technology team, supporting coverage of enterprise software, networking, and semiconductor companies. Before joining equity research in July 2018, Johnson worked as a product consultant for Morningstar and garnered experience on the buy side through a New York City-based internship.Johnson holds a bachelor's degree in quantitative economics with a minor in Hispanic studies from Vassar College. He has passed all three examination levels of the Chartered Financial Analyst® program.