Zacks Investment Research Upgrades Coca-Cola FEMSA SAB (KOF) to Hold
Coca-Cola FEMSA SAB (NYSE:KOF) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report 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. “
Other equities research analysts have also recently issued research reports about the stock. Credit Suisse Group AG reaffirmed a “buy” rating on shares of Coca-Cola FEMSA SAB in a research note on Thursday, October 27th. Citigroup Inc. raised shares of Coca-Cola FEMSA SAB from a “sell” rating to a “neutral” rating and set a $72.00 price target for the company in a research report on Wednesday, September 14th. Finally, 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. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $91.33.
Shares of Coca-Cola FEMSA SAB (NYSE:KOF) opened at 63.99 on Wednesday. The firm has a 50-day moving average of $73.94 and a 200 day moving average of $77.26. The company has a market capitalization of $13.26 billion, a P/E ratio of 27.09 and a beta of 0.90. Coca-Cola FEMSA SAB has a 1-year low of $61.17 and a 1-year high of $87.58.
The business also recently disclosed a dividend, which was paid on Monday, November 14th. Shareholders of record on Monday, October 31st were issued 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 and other institutional investors have recently modified their holdings of the company. Bank of New York Mellon Corp raised its position in shares of 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. bought a new position in shares of Coca-Cola FEMSA SAB during the second quarter valued at approximately $2,533,000. Comgest Global Investors S.A.S. raised its position in shares of 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 position in shares of 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 bought a new position in shares of Coca-Cola FEMSA SAB during the second quarter valued at approximately $315,000. Institutional investors and hedge funds own 5.73% 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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