Coca-Cola FEMSA, S.A.B. de C.V. (NYSE:KOF) Given Average Recommendation of “Buy” by Brokerages

Coca-Cola FEMSA, S.A.B. de C.V. (NYSE:KOF) has earned an average recommendation of “Buy” from the seven brokerages that are currently covering the stock, Marketbeat.com reports. Seven investment analysts have rated the stock with a buy recommendation. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $103.91.

KOF has been the topic of several analyst reports. Citigroup raised shares of Coca-Cola FEMSA from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $93.00 to $102.00 in a report on Tuesday, October 29th. StockNews.com raised Coca-Cola FEMSA from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, November 5th. The Goldman Sachs Group raised Coca-Cola FEMSA from a “neutral” rating to a “buy” rating in a report on Tuesday, September 3rd. Finally, Barclays cut their price objective on shares of Coca-Cola FEMSA from $110.00 to $108.00 and set an “overweight” rating on the stock in a report on Wednesday, October 30th.

Coca-Cola FEMSA Stock Up 0.3 %

Shares of Coca-Cola FEMSA stock opened at $79.41 on Thursday. The company has a 50-day simple moving average of $84.85 and a two-hundred day simple moving average of $87.15. Coca-Cola FEMSA has a one year low of $77.02 and a one year high of $104.38. The company has a current ratio of 1.05, a quick ratio of 0.87 and a debt-to-equity ratio of 0.51.

Coca-Cola FEMSA Cuts Dividend

The company also recently announced a semi-annual dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, December 6th will be given a $0.7433 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a yield of 3.7%. Coca-Cola FEMSA’s dividend payout ratio is currently 11.55%.

Institutional Trading of Coca-Cola FEMSA

Institutional investors and hedge funds have recently bought and sold shares of the business. Itau Unibanco Holding S.A. raised its holdings in shares of Coca-Cola FEMSA by 59.8% during the third quarter. Itau Unibanco Holding S.A. now owns 813,164 shares of the company’s stock worth $68,297,000 after purchasing an additional 304,197 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in Coca-Cola FEMSA by 73.9% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 261,049 shares of the company’s stock worth $23,160,000 after purchasing an additional 110,926 shares during the period. Marshall Wace LLP purchased a new position in shares of Coca-Cola FEMSA during the 2nd quarter valued at about $7,708,000. Mirabella Financial Services LLP acquired a new position in shares of Coca-Cola FEMSA in the 3rd quarter valued at about $3,912,000. Finally, Price T Rowe Associates Inc. MD purchased a new stake in shares of Coca-Cola FEMSA in the first quarter worth about $3,346,000.

Coca-Cola FEMSA Company Profile

Coca-Cola FEMSA, SAB. de C.V., a franchise bottler, produces, markets, sells, and distributes Coca-Cola trademark beverages in Mexico, Guatemala, Nicaragua, Costa Rica, Panama, Colombia, Brazil, Argentina, and Uruguay. The company offers sparkling beverages, including colas and flavored sparkling beverages; waters; other non-carbonated beverages comprising juice drinks, coffee, teas, milk, value-added dairy products, sports and energy drinks, and plant-based drinks; and alcoholic beverages, such as hard seltzer under the Topo Chico brand name.