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Coca-Cola ( KO) is the world's largest diversified beverage company, dwarfing the market capitalization of its closest competitor PepsiCo ( PEP) by about $60 billion or 60%.

Coca-Cola is best known for its Coca-Cola-branded carbonated soft drink popularly referred to as Coke and Diet Coke. However, the company has a portfolio of over 3,500 products which is sold in over 200 countries. In addition to Coke, the company has other flavored sodas, energy drinks, juices, sports drinks, tea, coffee and water. The company even produces Caribou Iced Coffee under an agreement with the above-mentioned Caribou Coffee.

While PepsiCo has struggled over the past year or more and expects to face some headwinds in 2012, Coca-Cola continues to forge ahead. Of the three major carbonated soft drink companies, Coca-Cola is expected to grow earning the most in 2012, by 6% vs. 4% for Dr Pepper Snapple ( DPS) and an expected decline in earnings for PepsiCo in what management considers a "transition year."

Coca-Cola, one of 10 Top Warren Bufett Dividend Stocks, was included recently in the "Ultimate Stock Pickers" Portfolio.

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