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The Coca-Cola Co (NYSE: KO) shares hit a 52-week high of $47.13 after Bank of America Merrill Lynch recommended KO ahead of other beverage stocks "on improving profitability due to better price/mix from no longer chasing volume in addition to restructuring savings."
The brokerage also sent a "callout-watchout-reminder" against the following companies: Mondelez International Inc (NASDAQ: MDLZ), WhiteWave Foods Co (NYSE: WWAV) and TreeHouse Foods Inc. (NYSE: THS) heading in to the first-quarter earnings.
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Coca-Cola: Buy, PT Raised $4 To $52, Reports 1Q16 EPS April 20
"We are comfortable with 4 percent organic sales and 2 percent volume, which exclude the impact of one less selling day. KO remains one of our top picks as we believe the companies initiatives around pricing, price pack architecture and cost savings from restructuring will drive profit improvement."
Coca-Cola Enterprises Inc (NYSE: CCE): Buy, PT Increased $2 To $58, Reports 1Q16 EPS April 28
"Sales still mixed with weakness continuing in GB driven by competitive behavior and overall industry softness. Investors are likely to look past the quarter ahead of the anticipated CCEP merger which is expected to close by the end of 2Q16."
PepsiCo, Inc. (NYSE: PEP): Buy, PT Hiked To $112 From $105, Reports Q1 Results April 18
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"US and Mexico will be the primary growth drivers in 1Q. We expect organic sales growth of 3.5 percent. Our Buy rating is based on our expectation that PEP continues to deliver strong and consistent sales and earnings growth."
Mondelez: Buy, PT Raised $3 To $48, Reports 1Q16 EPS April 27
"We expect 1Q organic sales growth of +1.7 percent, slightly below the 2 percent target for the year. 1Q organic sales growth is likely below 2 percent on weakness in Brazil, Russia and a soft China holiday. FX should be less of a headwind for balance of the year. We continue to like MDLZ since it is one of few food companies that offer a combination of solid sales growth and margin expansion."
Dr Pepper Snapple Group Inc. (NYSE: DPS): Underperform, Reports Q1 Numbers April 27
"Should benefit from better pricing in the US and contribution from allied brands. Will take a volume hit from elimination of 10L water in Mexico. Although the pricing environment in the US remains favorable, we believe this is already reflected in DPS valuation."
Treehouse Foods: Buy, Reports Q1 Results May 5
"Already guided 1Q. Believe 2Q consensus is too high on mis-modelling of timing of deal dilution. Despite the potential 2Q headline risk, we remain positive on THS and believe synergy guidance from the private brands acquisition is conservative."
Monster Beverage Corporation (NASDAQ: MNST): Neutral, No Reporting Date Yet
"US scanner data suggests a modest category slowdown in the US. Also, there is potential for 1Q sales disruption on distributor transition. While we agree with the bull case of international growth and margin expansion, we believe the positive outlook is already reflected in the stock price."
WhiteWave: Buy, No Reporting Date Yet
"1Q results should be in line with expectations, which is likely better than feared. Consensus for 2Q appears too high on timing of expenses. We continue to view WWAV as one of the best growth stories within our universe, operating in categories which are on point with consumer trends."
Image Credit: Public DomainCrypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.