Coca-Cola FEMSA (NYSE:KOF) Price Target Cut to $108.00 by Analysts at Barclays

Coca-Cola FEMSA (NYSE:KOF) had its price objective lowered by Barclays from $110.00 to $108.00 in a research report report published on Wednesday morning, Benzinga reports. The brokerage currently has an overweight rating on the stock.

KOF has been the subject of a number of other research reports. The Goldman Sachs Group raised shares of Coca-Cola FEMSA from a “neutral” rating to a “buy” rating in a report on Tuesday, September 3rd. StockNews.com cut shares of Coca-Cola FEMSA from a “strong-buy” rating to a “buy” rating in a research note on Monday, October 28th. UBS Group decreased their target price 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. Finally, Citigroup upgraded Coca-Cola FEMSA from a “neutral” rating to a “buy” rating and upped their price target for the company from $93.00 to $102.00 in a research report on Tuesday, October 29th. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Coca-Cola FEMSA has an average rating of “Buy” and an average price target of $103.91.

Coca-Cola FEMSA Stock Down 2.4 %

Shares of KOF opened at $81.33 on Wednesday. The stock has a 50 day moving average price of $87.08 and a 200 day moving average price of $89.34. Coca-Cola FEMSA has a one year low of $76.74 and a one 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.

Coca-Cola FEMSA Cuts Dividend

The company also recently declared a semi-annual dividend, which was paid on Friday, October 25th. Stockholders of record on Monday, October 14th were given a dividend of $0.7811 per share. This represents a dividend yield of 2.6%. The ex-dividend date of this dividend was Monday, October 14th. Coca-Cola FEMSA’s payout ratio is presently 11.55%.

Institutional Investors Weigh In On Coca-Cola FEMSA

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Norden Group LLC purchased a new position in shares of Coca-Cola FEMSA during the 1st quarter worth $515,000. Diversify Advisory Services LLC purchased a new position in Coca-Cola FEMSA during the first quarter worth about $714,000. BNP Paribas Financial Markets increased its position in shares of Coca-Cola FEMSA by 3,497.7% during the first quarter. BNP Paribas Financial Markets now owns 31,372 shares of the company’s stock valued at $3,049,000 after acquiring an additional 30,500 shares during the last quarter. Chase Investment Counsel Corp increased its position in shares of Coca-Cola FEMSA by 3.6% during the first quarter. Chase Investment Counsel Corp now owns 4,403 shares of the company’s stock valued at $427,000 after acquiring an additional 154 shares during the last quarter. Finally, Csenge Advisory Group raised its stake in shares of Coca-Cola FEMSA by 150.1% in the 1st quarter. Csenge Advisory Group now owns 17,286 shares of the company’s stock valued at $1,680,000 after acquiring an additional 10,373 shares during the period.

Coca-Cola FEMSA Company Profile

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.