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FTSE 100 shares: I bought this cheap UK stock in an ISA to DOUBLE my money!

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I believe buying UK shares today is a great way to get very, very rich this decade. Equity markets might be a long way off the lows plunged during the stock market crash of early 2020. But many top-quality stocks continue to trade at a big discount from their pre-crash levels.

This provides an opportunity for savvy investors to nip in and grab a bargain or two. I’ve continued to buy UK stocks for my Stocks and Shares ISA during the past year. And I plan to keep building my portfolio despite the lingering Covid-19 crisis.

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It’s possible that more stock market volatility could be around the corner. As a long-term investor though, this doesn’t concern me much.

UK share prices will boom again

I know UK share prices always recover strongly in the years following stock market crashes. As someone who invests with a long-term view I can afford to be patient and wait for the recovery to kick in. Taking a long-term position can reap huge rewards following a stock market crash.

Private investor buying UK shares at home

Remember that the FTSE 100 more than doubled in value in the decade following the global banking crisis. It soared 106% between February 2009 and May 2018 when it hit its current record peaks of 7,877 points. As economic conditions improved and corporate profits bounced back, market confidence came flooding back and UK share prices swept higher again.

The panic that accompanies stock market crashes means robust, quality stocks tend to be heavily sold along with the duds. The Covid-19 crash of last February and March was no different. These are the ones that will lead the charge during the next bull market. And they will help create a new batch of Stocks and Shares ISA millionaires like they did during the 2010s.

Profits set to fizz

Coca-Cola HBC (LSE: HBC) is one of these oversold UK shares which I bought for my own ISA last year. Its shares fell to their cheapest for almost four years at one point during the crash.

The FTSE 100 soft drinks giant has suffered since the Covid-19 outbreak as sales through its ‘out of home’ channel have slumped. But Coca-Cola’s woes will prove very temporary. Coke is the world’s most popular drinks brand and profits will come roaring back as coronavirus lockdowns are reversed.

I’m confident that steps to embrace fast-growing segments like energy drinks and low-calorie beverages will help the bottom line soar over the next 10 years too.

City analysts reckon Coca-Cola will bounce back as soon as 2021. They anticipate annual earnings will roar 21% higher this year. This leaves the UK share trading on a fantastically-low forward price-to-earnings growth (PEG) ratio of 1.

I reckon this cut-price Footsie star could make me a fortune over the next decade. It’s just one of many brilliant bargains I think are too cheap to miss right now.

A Top Share with Enormous Growth Potential

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But its capital-light, highly scalable business model has previously helped it deliver consistently high sales, astounding near-70% margins, and rising shareholder returns … in fact, in 2019 it returned a whopping £150m+ to shareholders in dividends and buybacks!

And here’s the really exciting part…

While COVID-19 may have thrown the company a curveball, management have acted swiftly to ensure this business is as well placed as it can be to ride out the current period of uncertainty… in fact, our analyst believes it should come roaring back to life, just as soon as normal economic activity resumes.

That’s why we think now could be the perfect time for you to start building your own stake in this exceptional business – especially given the shares look to be trading on a fairly undemanding valuation for the year to March 2021.

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Royston Wild owns shares of Coca-Cola HBC. The Motley Fool UK has no position in any of the shares mentioned. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors.

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