What: Shares in beverage distributor Coca-Cola Amatil Ltd (ASX: CCL) have acted as an overall drag on the S&P/ASX 200 Index (Index: ^AXJO) (ASX: XJO) today, having fallen 8c or 0.8% to be trading at $9.49 apiece. Today marks the stock's third consecutive day in the red.
So What: Twelve months ago, if you'd have said that Coca-Cola Amatil's shares would be trading as low as $9 apiece, you'd almost have been laughed out of town. The stock was trading at a high of $15.18 and, given the strength of the business and its extremely consistent performance, was looking like climbing ever higher.
That was until the company warned of a profit drop due largely to pricing pressures from Schweppes as well as supermarket giants Woolworths Limited (ASX: WOW) and Coles, owned by Wesfarmers Ltd (ASX: WES). Since then, the shares have lost nearly 40% while the ASX 200 has achieved multi-year highs.
Now what: The good news for shareholders is that the problems appear to be short-term in nature, and I strongly believe the shares can outperform the market over the medium to long terms. Considering the shares were trading at more than $10 just five trading days ago, this could most certainly be an excellent opportunity for you to buy on the cheap. In fact, Coca-Cola Amatil may well be one of the best stocks for your money right now and could be held onto for the next 50 years for excellent returns (particularly with its generous 5.3% dividend yield).
An ASX stock set for potentially enormous returns
While Coca-Cola Amatil shares are worthy of your investment dollars for decades to come at this price, The Motley Fool's top analysts have identified another stock in its early stages of growth that may double your money in the coming years.
