Warren Buffett’s Berkshire Hathaway Inc., the largest investor in Coca-Cola Co. (KO:US), jumped the most since January in New York trading on gains in the value of its stake in the soft-drink maker.
Berkshire Class A shares rallied $4,000, or 2.6 percent, to $161,000, a record closing price. Atlanta-based Coca-Cola surged 5.7 percent after posting first-quarter profit (KO:US) that beat analysts’ estimates and announcing a deal to sell some bottling distribution rights in North America.
Buffett’s firm has 400 million (KO:US) Coca-Cola shares, making it one of the four largest holdings (2FA:US) at Omaha, Nebraska-based Berkshire, along with investments in Wells Fargo & Co., American Express Co., and International Business Machines Corp. Berkshire’s stakes in the companies may increase in the future as the firms buy back shares, Buffett said in a letter to investors last month.
“The four companies possess marvelous businesses and are run by managers who are both talented and shareholder- oriented,” Buffett said in the letter. “Too much of good thing can be wonderful.”
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