Coca-Cola FEMSA SAB (KOF) Downgraded by Zacks Investment Research to Sell
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. “
KOF has been the subject of a number of other reports. Citigroup Inc. cut shares of Coca-Cola FEMSA SAB from a neutral rating to a sell rating and lowered their price target for the company from $76.50 to $73.00 in a research report on Sunday, July 24th. Scotiabank reissued a sector perform rating and set a $139.00 price target on shares of Coca-Cola FEMSA SAB in a research report on Thursday, August 25th. Credit Suisse Group AG raised shares of Coca-Cola FEMSA SAB from a neutral rating to an outperform rating in a research report on Thursday, September 8th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Coca-Cola FEMSA SAB from $82.00 to $89.00 and gave the company a neutral rating in a research report on Friday, June 3rd. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company. The company presently has a consensus rating of Hold and an average target price of $88.25.
Coca-Cola FEMSA SAB (NYSE:KOF) traded up 0.69% on Wednesday, hitting $76.43. 3,094 shares of the stock were exchanged. The company has a 50-day moving average of $76.50 and a 200-day moving average of $79.72. The stock has a market cap of $15.84 billion, a price-to-earnings ratio of 32.22 and a beta of 0.85. Coca-Cola FEMSA SAB has a 12 month low of $61.17 and a 12 month high of $87.58.
Coca-Cola FEMSA SAB (NYSE:KOF) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.76 by $0.71. Coca-Cola FEMSA SAB had a net margin of 6.15% and a return on equity of 8.77%. On average, equities analysts predict that Coca-Cola FEMSA SAB will post $2.92 EPS for the current year.
Several institutional investors have recently bought and sold shares of KOF. Renaissance Technologies LLC raised its position in Coca-Cola FEMSA SAB by 7.0% in the first quarter. Renaissance Technologies LLC now owns 760,100 shares of the company’s stock worth $63,126,000 after buying an additional 49,800 shares during the last quarter. Comgest Global Investors S.A.S. raised its position 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 worth $41,618,000 after buying an additional 69,163 shares during the last quarter. Vontobel Asset Management Inc. raised its position in Coca-Cola FEMSA SAB by 32.4% in the second quarter. Vontobel Asset Management Inc. now owns 468,698 shares of the company’s stock worth $38,885,000 after buying an additional 114,738 shares during the last quarter. Burgundy Asset Management Ltd. raised its position in Coca-Cola FEMSA SAB by 21.9% in the second quarter. Burgundy Asset Management Ltd. now owns 345,449 shares of the company’s stock worth $28,658,000 after buying an additional 62,164 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position 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 worth $14,412,000 after buying an additional 2,371 shares during the last quarter. Institutional investors and hedge funds own 5.61% of the company’s stock.
About Coca-Cola FEMSA SAB
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.
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