1 share I would like to buy in October on the FTSE 100

The UK stock market has been sluggish recently, but that means shares have risen in value FTSE100.

There are several shares that I would like to buy, but I don’t have the funds. This is one of the frustrations of full commitment.

Nevertheless, they are on my watchlist and seem to be rattling their cages and screaming to be purchased! If funds become available in October, I will do more research and seriously consider it.

Defensive gem

For example, I like the look Coca-Cola HBC (LSE: CCH), a Swiss Coca-Cola bottling company.

In August, the company reported a decent set of half-year results and optimistic forecasts, despite some challenging market conditions. I believe that the strength of the Coca-Cola brand serves the business well and gives it a strong defensive position.

In other words, the ups and downs of the broader economy may impact the company less than many others.

But executives aren’t content with the company simply treading water. They have a clear, long-term development program along with a vision of the future company “the leading 24/7 beverage partner”.

The operation is large, serving approximately 740 million consumers in 29 countries, and executives estimate that the product portfolio “is one of the strongest, broadest and most flexible in the beverage industry.”

We are talking about brands such as Coca-Colaof course, but also Costa coffee, Fanta, Leprechaun, Schweppes, Kinley, Greylag goose, Caffe Vergnano, Valser, FuzeTea, Powerade, Cappy, Monster energy, Finlandia Vodka, Macallan AND Jack Daniels.

There are some influential names on this list, and that’s one of the main reasons I’m interested in this company as a potential long-term investment.

We trade well with growth ambitions

Meanwhile, near 2,688p, the share price has fallen slightly from summer highs.

However, city analysts have positive expectations for the business. They predict normalized earnings will increase by about 5% this year and just over 10% in 2025.

However, as with all businesses, there are risks. One thing we’ve seen recently with other similar companies is that their brands have sometimes not been as defensive as assumed. Recent business weakness for a beverage company Diageo this is one example.

Another risk is that the company may one day lose its position Coca-Cola license to a competitor. If this happens, it will be a disaster for the company.

Nevertheless, the forward price-to-earnings rating for 2025 is around 13 and the projected dividend yield is just over 3.4%. These numbers are similar to the average for the entire FTSE 100 index, so I currently view this stock as offering fair value.

However, fair value may be a good value for an operator of this quality. I remember the approach of super-investor Warren Buffett, who prefers to buy great companies at fair prices rather than mediocre companies at low prices.

Coca-Cola HBC’s third-quarter earnings release is scheduled for October 29, and I’ll be watching it closely.