Coca-Cola FEMSA (NYSE:KOF) Lowered to “Buy” Rating by StockNews.com

StockNews.com lowered shares of Coca-Cola FEMSA (NYSE:KOF) from a strong-buy rating to a buy rating in a report released on Monday.

Other equities analysts have also issued reports about the company. Barclays lifted their price objective on Coca-Cola FEMSA from $105.00 to $110.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. The Goldman Sachs Group upgraded Coca-Cola FEMSA from a “neutral” rating to a “buy” rating in a report on Tuesday, September 3rd. Finally, UBS Group lowered their price objective on shares of Coca-Cola FEMSA from $112.00 to $102.00 and set a “buy” rating on the stock in a research note on Wednesday, July 10th. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat, Coca-Cola FEMSA currently has an average rating of “Buy” and an average price target of $103.91.

Coca-Cola FEMSA Stock Performance

NYSE:KOF opened at $83.37 on Monday. The firm has a market capitalization of $140.12 billion, a PE ratio of 14.15, a PEG ratio of 0.70 and a beta of 0.86. Coca-Cola FEMSA has a 1 year low of $75.42 and a 1 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. The firm’s fifty day simple moving average is $87.32 and its 200 day simple moving average is $89.47.

Coca-Cola FEMSA Cuts Dividend

The firm also recently declared a semi-annual dividend, which was paid on Friday, October 25th. Shareholders of record on Monday, October 14th were paid a dividend of $0.7811 per share. The ex-dividend date of this dividend was Monday, October 14th. This represents a yield of 2.6%. Coca-Cola FEMSA’s dividend payout ratio is currently 11.54%.

Hedge Funds Weigh In On Coca-Cola FEMSA

A number of hedge funds have recently made changes to their positions in KOF. Itau Unibanco Holding S.A. boosted its position in shares of Coca-Cola FEMSA by 13.9% during the 2nd quarter. Itau Unibanco Holding S.A. now owns 508,967 shares of the company’s stock valued at $42,025,000 after acquiring an additional 62,282 shares in the last quarter. Price T Rowe Associates Inc. MD acquired a new stake in Coca-Cola FEMSA during the first quarter valued at approximately $3,346,000. Quadrature Capital Ltd bought a new stake in shares of Coca-Cola FEMSA in the 1st quarter valued at approximately $4,217,000. Marshall Wace LLP acquired a new position in shares of Coca-Cola FEMSA in the 2nd quarter worth approximately $7,708,000. Finally, Canada Pension Plan Investment Board bought a new position in shares of Coca-Cola FEMSA during the 2nd quarter worth approximately $2,515,000.

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.