Zacks Investment Research upgraded shares of Coca Cola Femsa S.A.B. de C.V. (NYSE:KOF) from a hold rating to a strong-buy rating in a research note published on Friday morning. They currently have $101.00 price target on the stock.
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. “
Several other analysts also recently commented on the company. J P Morgan Chase & Co raised Coca Cola Femsa S.A.B. de C.V. from a neutral rating to an overweight rating in a research note on Friday, May 12th. TheStreet raised Coca Cola Femsa S.A.B. de C.V. from a c rating to a b- rating in a research note on Friday, April 28th. Barclays PLC set a $84.00 price objective on Coca Cola Femsa S.A.B. de C.V. and gave the stock an equal weight rating in a research note on Monday, May 1st. Citigroup Inc. downgraded Coca Cola Femsa S.A.B. de C.V. from a buy rating to a neutral rating in a research note on Tuesday, June 13th. Finally, Scotiabank raised Coca Cola Femsa S.A.B. de C.V. from a sector perform rating to an outperform rating in a research note on Wednesday, July 5th. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and an average target price of $99.00.
Coca Cola Femsa S.A.B. de C.V. (NYSE:KOF) traded up 0.68% during mid-day trading on Friday, hitting $90.71. The stock had a trading volume of 15,444 shares. The firm has a market cap of $18.80 billion, a P/E ratio of 25.08 and a beta of 0.96. Coca Cola Femsa S.A.B. de C.V. has a 1-year low of $59.44 and a 1-year high of $90.99. The stock has a 50 day moving average of $81.70 and a 200-day moving average of $70.95.
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A number of institutional investors have recently added to or reduced their stakes in KOF. Credit Agricole S A purchased a new position in Coca Cola Femsa S.A.B. de C.V. during the first quarter worth about $66,323,000. Macquarie Group Ltd. purchased a new position in Coca Cola Femsa S.A.B. de C.V. during the fourth quarter worth about $57,593,000. Bank of Montreal Can boosted its position in Coca Cola Femsa S.A.B. de C.V. by 283.6% in the first quarter. Bank of Montreal Can now owns 57,828 shares of the company’s stock worth $4,147,000 after buying an additional 42,751 shares during the period. Banco BTG Pactual S.A. purchased a new position in Coca Cola Femsa S.A.B. de C.V. during the first quarter worth about $394,000. Finally, Quadrature Capital Ltd purchased a new position in Coca Cola Femsa S.A.B. de C.V. during the fourth quarter worth about $202,000. Hedge funds and other institutional investors own 6.99% of the company’s stock.
About Coca Cola Femsa S.A.B. de C.V.
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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