Coca-Cola FEMSA, S.A.B. de C.V. (NYSE:KOF) Given Consensus Recommendation of “Buy” by Brokerages

Coca-Cola FEMSA, S.A.B. de C.V. (NYSE:KOF) has received an average rating of “Buy” from the seven ratings firms that are presently covering the firm, Marketbeat.com reports. Seven equities research analysts have rated the stock with a buy recommendation. The average 1 year price target among brokers that have issued a report on the stock in the last year is $103.91.

Several equities analysts have recently weighed in on the stock. Barclays dropped 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 report on Wednesday, October 30th. StockNews.com upgraded shares of Coca-Cola FEMSA from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, November 5th. The Goldman Sachs Group raised Coca-Cola FEMSA from a “neutral” rating to a “buy” rating in a research report on Tuesday, September 3rd. Finally, Citigroup raised Coca-Cola FEMSA from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $93.00 to $102.00 in a report on Tuesday, October 29th.

Hedge Funds Weigh In On Coca-Cola FEMSA

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD acquired a new stake in shares of Coca-Cola FEMSA during the 1st quarter worth $3,346,000. Cetera Advisors LLC lifted its position in Coca-Cola FEMSA by 61.9% during the first quarter. Cetera Advisors LLC now owns 5,196 shares of the company’s stock worth $505,000 after purchasing an additional 1,987 shares during the period. Bright Futures Wealth Management LLC. acquired a new stake in Coca-Cola FEMSA during the first quarter worth about $680,000. CWM LLC increased its holdings in Coca-Cola FEMSA by 49.9% in the 2nd quarter. CWM LLC now owns 853 shares of the company’s stock valued at $73,000 after buying an additional 284 shares during the period. Finally, SG Americas Securities LLC acquired a new position in shares of Coca-Cola FEMSA in the 2nd quarter valued at approximately $168,000.

Coca-Cola FEMSA Price Performance

KOF stock opened at $79.41 on Thursday. The business’s 50 day simple moving average is $84.85 and its 200 day simple moving average is $87.15. Coca-Cola FEMSA has a 1-year low of $77.02 and a 1-year high of $104.38. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.05 and a quick ratio of 0.87.

Coca-Cola FEMSA Cuts Dividend

The business also recently declared a semi-annual dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, December 6th will be given a dividend of $0.7433 per share. This represents a yield of 3.7%. The ex-dividend date is Friday, December 6th. Coca-Cola FEMSA’s dividend payout ratio is currently 11.55%.

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.