Investors fear 1%-2% global volume growth the new normal at Coca-Cola

Citigroup says it understands how investors may fear that 1%-2% might be the new normal for Coca-Cola's (KO -3.8%) global volume growth after reporting 1% for Q4, citing a challenging macro backdrop in many areas of the world, and 1% for Q2, which had been explained away in part by unusually bad weather in several regions of the world.

Janney still rates the stock a Buy, saying KO is still a long-term value: While KO's recent growth is below historical trend, it has arguably never been stronger or higher quality in cash flow, volume and ad spend compared to other global staples leaders, particularly in packaged food, and offer considerable long-term value with a 5.1% free cash flow yield while the staples group approaches all-time highs.

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