Zacks Investment Research upgraded shares of Coca-Cola FEMSA SAB (NYSE:KOF) from a sell rating to a hold rating in a research note released on Wednesday.
According to Zacks, “Coca-Cola Femsa S.A., through its subsidiaries, produces, markets and distributes soft drinks throughout the metropolitan area of Mexico City, in Southeastern Mexico and in metropolitan Buenos Aires, Argentina. The Company produces Coca-Cola, Sprite, Fresca, Quatro, Powerade, Extra Poma, Etiqueta Azul and Kin. “
Several other research firms have also recently weighed in on KOF. Scotiabank reiterated a sector perform rating and set a $139.00 price objective on shares of Coca-Cola FEMSA SAB in a research report on Thursday, August 25th. Credit Suisse Group AG reiterated a buy rating on shares of Coca-Cola FEMSA SAB in a research report on Thursday, October 27th. Finally, Citigroup Inc. reiterated a neutral rating on shares of Coca-Cola FEMSA SAB in a research report on Saturday, October 29th. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. The stock has a consensus rating of Hold and an average target price of $91.33.
Coca-Cola FEMSA SAB (NYSE:KOF) opened at 62.91 on Wednesday. The firm has a market cap of $13.04 billion, a P/E ratio of 27.22 and a beta of 0.90. The company’s 50-day moving average is $73.03 and its 200 day moving average is $76.90. Coca-Cola FEMSA SAB has a 12 month low of $61.17 and a 12 month high of $87.58.
The firm also recently disclosed a dividend, which was paid on Monday, November 14th. Investors of record on Monday, October 31st were paid a $0.903 dividend. The ex-dividend date of this dividend was Thursday, October 27th. Coca-Cola FEMSA SAB’s dividend payout ratio (DPR) is presently 68.44%.
Hedge funds have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp raised its stake in Coca-Cola FEMSA SAB by 1.4% in the second quarter. Bank of New York Mellon Corp now owns 173,724 shares of the company’s stock valued at $14,412,000 after buying an additional 2,371 shares during the period. Pring Turner Capital Group Inc. acquired a new stake in Coca-Cola FEMSA SAB during the second quarter valued at $2,533,000. Comgest Global Investors S.A.S. raised its stake in Coca-Cola FEMSA SAB by 16.0% in the second quarter. Comgest Global Investors S.A.S. now owns 501,670 shares of the company’s stock valued at $41,618,000 after buying an additional 69,163 shares during the period. Acadian Asset Management LLC raised its stake in Coca-Cola FEMSA SAB by 46.2% in the second quarter. Acadian Asset Management LLC now owns 19,333 shares of the company’s stock valued at $1,604,000 after buying an additional 6,106 shares during the period. Finally, Americafirst Capital Management LLC acquired a new stake in Coca-Cola FEMSA SAB during the second quarter valued at $315,000. 5.69% of the stock is currently owned by institutional investors and hedge funds.
Coca-Cola FEMSA SAB Company Profile
Coca-Cola FEMSA, SAB. de C.V. is a franchise bottler of Coca-Cola trademark beverages across the world. The Company and its subsidiaries are engaged in the production, distribution and marketing of certain Coca-Cola beverages. It is also engaged in acquiring, holding and transferring all types of bonds, shares and marketable securities.