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

Coca-Cola FEMSA, S.A.B. de C.V. (NYSE:KOF) has earned a consensus recommendation of “Buy” from the six ratings firms that are presently covering the company, MarketBeat Ratings reports. Six research analysts have rated the stock with a buy recommendation. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $104.75.

A number of analysts have recently issued reports on KOF shares. StockNews.com upgraded Coca-Cola FEMSA from a “buy” rating to a “strong-buy” rating in a report on Tuesday, November 5th. The Goldman Sachs Group raised Coca-Cola FEMSA from a “neutral” rating to a “buy” rating in a research report on Tuesday, September 3rd. Citigroup raised Coca-Cola FEMSA from a “neutral” rating to a “buy” rating and upped their target price for the stock from $93.00 to $102.00 in a research report on Tuesday, October 29th. Finally, Barclays dropped their target price on Coca-Cola FEMSA from $110.00 to $108.00 and set an “overweight” rating on the stock in a report on Wednesday, October 30th.

Institutional Trading of Coca-Cola FEMSA

A number of hedge funds have recently made changes to their positions in the stock. Itau Unibanco Holding S.A. increased its stake in Coca-Cola FEMSA by 13.9% during the second quarter. Itau Unibanco Holding S.A. now owns 508,967 shares of the company’s stock valued at $42,025,000 after purchasing an additional 62,282 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new position in Coca-Cola FEMSA in the third quarter worth about $31,000. Marshall Wace LLP acquired a new position in Coca-Cola FEMSA in the second quarter valued at approximately $7,708,000. Canada Pension Plan Investment Board acquired a new stake in shares of Coca-Cola FEMSA in the 2nd quarter worth about $2,515,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Coca-Cola FEMSA by 73.9% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 261,049 shares of the company’s stock valued at $23,160,000 after buying an additional 110,926 shares during the last quarter.

Coca-Cola FEMSA Price Performance

Shares of Coca-Cola FEMSA stock opened at $79.63 on Monday. The business’s fifty day moving average price is $81.81 and its 200 day moving average price is $85.31. Coca-Cola FEMSA has a twelve month low of $77.02 and a twelve month high of $104.38. The company has a current ratio of 1.14, a quick ratio of 0.94 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $133.83 billion, a P/E ratio of 13.52, a PEG ratio of 0.71 and a beta of 0.84.

Coca-Cola FEMSA Cuts Dividend

The firm also recently announced a semi-annual dividend, which was paid on Thursday, December 19th. Shareholders of record on Friday, December 6th were given a $0.7433 dividend. This represents a dividend yield of 3.7%. The ex-dividend date of this dividend was Friday, December 6th. Coca-Cola FEMSA’s payout ratio is 11.71%.

About Coca-Cola FEMSA

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.