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

Shares of Coca-Cola FEMSA, S.A.B. de C.V. (NYSE:KOF) have received an average recommendation of “Buy” from the seven research firms that are covering the company, MarketBeat Ratings reports. Seven research analysts have rated the stock with a buy rating. The average 12 month price objective among brokers that have covered the stock in the last year is $103.91.

KOF has been the subject of several recent research reports. 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. Barclays reduced their price objective on shares of Coca-Cola FEMSA from $110.00 to $108.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. 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, StockNews.com raised Coca-Cola FEMSA from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, November 5th.

Institutional Investors Weigh In On Coca-Cola FEMSA

Several hedge funds have recently bought and sold shares of KOF. Wilmington Savings Fund Society FSB bought a new position in shares of Coca-Cola FEMSA during the third quarter worth approximately $71,000. Sanctuary Advisors LLC lifted its holdings in shares of Coca-Cola FEMSA by 8.8% during the third quarter. Sanctuary Advisors LLC now owns 16,685 shares of the company’s stock worth $1,480,000 after buying an additional 1,344 shares in the last quarter. TD Private Client Wealth LLC lifted its holdings in shares of Coca-Cola FEMSA by 46.0% during the third quarter. TD Private Client Wealth LLC now owns 3,102 shares of the company’s stock worth $275,000 after buying an additional 978 shares in the last quarter. ABS Direct Equity Fund LLC bought a new stake in shares of Coca-Cola FEMSA in the third quarter valued at about $1,003,000. Finally, M&T Bank Corp grew its stake in shares of Coca-Cola FEMSA by 18.3% in the third quarter. M&T Bank Corp now owns 5,055 shares of the company’s stock valued at $448,000 after acquiring an additional 783 shares in the last quarter.

Coca-Cola FEMSA Trading Up 1.2 %

NYSE KOF opened at $80.59 on Thursday. Coca-Cola FEMSA has a 52 week low of $77.02 and a 52 week high of $104.38. The stock’s 50 day moving average price is $84.17 and its two-hundred day moving average price is $86.70. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.87 and a current ratio of 1.05.

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 paid a $0.7433 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a yield of 3.7%. Coca-Cola FEMSA’s dividend payout ratio (DPR) 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.