However, Coca-Cola stock is now trading at all-time highs and is quite unattractive on a valuation basis given the disconnect between its rising share price and the lack of any underlying business momentum or growth. Luckily, Coca-Cola has various listed partners around the world, and some of them are much more promising at the moment. For example, we have Coca-Cola Femsa (NYSE:), which is Mexico's largest Coca-Cola bottler/distributor. It also has major operations in various South American countries.