Brokerages Set Coca-Cola FEMSA, S.A.B. de C.V. (NYSE:KOF) PT at $104.75

Shares of Coca-Cola FEMSA, S.A.B. de C.V. (NYSE:KOF) have received a consensus recommendation of “Buy” from the six brokerages that are presently covering the company, Marketbeat Ratings reports. Six research analysts have rated the stock with a buy recommendation. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $104.75.

Several equities analysts have recently issued reports on the company. StockNews.com upgraded Coca-Cola FEMSA from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, November 5th. Citigroup upgraded shares of Coca-Cola FEMSA from a “neutral” rating to a “buy” rating and increased their target price for the stock from $93.00 to $102.00 in a report on Tuesday, October 29th. Finally, Barclays lowered 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 research note on Wednesday, October 30th.

Coca-Cola FEMSA Stock Performance

KOF stock opened at $76.09 on Friday. Coca-Cola FEMSA has a twelve month low of $73.90 and a twelve month high of $104.38. The company has a quick ratio of 0.94, a current ratio of 1.14 and a debt-to-equity ratio of 0.47. The company has a market cap of $127.88 billion, a P/E ratio of 12.92, a price-to-earnings-growth ratio of 0.54 and a beta of 0.83. The business’s fifty day moving average is $78.87 and its 200-day moving average is $84.07.

Coca-Cola FEMSA Cuts Dividend

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

Hedge Funds Weigh In On Coca-Cola FEMSA

Several hedge funds and other institutional investors have recently added to or reduced their stakes in KOF. JPMorgan Chase & Co. increased its stake in shares of Coca-Cola FEMSA by 90.5% in the third quarter. JPMorgan Chase & Co. now owns 796,574 shares of the company’s stock valued at $70,672,000 after buying an additional 378,325 shares during the period. Itau Unibanco Holding S.A. grew its holdings in Coca-Cola FEMSA by 59.8% during the 3rd quarter. Itau Unibanco Holding S.A. now owns 813,164 shares of the company’s stock worth $68,297,000 after acquiring an additional 304,197 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in Coca-Cola FEMSA by 73.9% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 261,049 shares of the company’s stock valued at $23,160,000 after acquiring an additional 110,926 shares during the period. Marshall Wace LLP bought a new position in shares of Coca-Cola FEMSA during the second quarter valued at $7,708,000. Finally, Mirabella Financial Services LLP acquired a new position in shares of Coca-Cola FEMSA during the third quarter worth $3,912,000.

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.