Investopedia: Coca-Cola Not So Bubbly, But Does It Matter?

It's just one of the realities of investment writing that nobody's ever going to thank you for writing anything negative about well-loved stocks like Coca-Cola (NYSE:KO), Nike (NYSE:NKE) and PepsiCo (NYSE:PEP). But as these stocks have shown over the past year, valuation always matters; all three remain high-quality companies with incredible brands, but all were expensive a year ago and they have underperformed in the market. Although I see nothing fundamentally disturbing about Coca-Cola from a long-term perspective, I wouldn't be in a rush to pay the going rate for its shares.

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http://www.investopedia.com/stock-analysis/2012/Coca-Cola-Not-So-Bubbly-But-Does-It-Matter-KO-PEP-MNST-NSRGY1016.aspx