Coca-Cola (NYSE: KO) investors didn't just have a flat year in 2023, they had a downright awful one. Shares of the beverage behemoth declined even as the S 500 rallied by 22%. Coke's 5% drop was enough to make it the sixth-worst-performing stock in the Dow Jones Industrial Average.

Still, 2024 could be much better for shareholders. Let's look at some big reasons for investors to like Coke's prospects for the year ahead.

Coke stock joined other Dow consumer staples giants like Procter Gamble in losing ground last year. But the beverage leader is enjoying much stronger operating momentum. The big knock against P, after all, is that it has had to rely exclusively on higher prices to boost sales in 2023. Volumes declined in the most recent quarter as overall growth landed at 7%.

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Source Fool.com