Coca Cola Femsa (NYSE:KOF) Hits New 52-Week High on Analyst Upgrade

Shares of Coca Cola Femsa S.A.B. de C.V. (NYSE:KOF) reached a new 52-week high during mid-day trading on Tuesday after The Goldman Sachs Group raised their price target on the stock from $97.00 to $111.00. The Goldman Sachs Group currently has a buy rating on the stock. Coca Cola Femsa traded as high as $113.20 and last traded at $112.11, with a volume of 194494 shares. The stock had previously closed at $111.91.

A number of other research firms have also recently commented on KOF. Bradesco Corretora upgraded shares of Coca Cola Femsa to an “outperform” rating and set a $124.00 price target on the stock in a report on Wednesday. UBS Group increased their target price on Coca Cola Femsa from $109.00 to $111.00 and gave the company a “buy” rating in a research note on Friday, January 9th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Coca Cola Femsa in a report on Friday, December 26th. Barclays lifted their price objective on Coca Cola Femsa from $98.00 to $110.00 and gave the stock an “equal weight” rating in a report on Tuesday. Finally, Wall Street Zen downgraded shares of Coca Cola Femsa from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. Five analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, Coca Cola Femsa currently has an average rating of “Moderate Buy” and an average price target of $111.20.

Institutional Trading of Coca Cola Femsa

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Seafarer Capital Partners LLC raised its holdings in Coca Cola Femsa by 31.8% during the third quarter. Seafarer Capital Partners LLC now owns 29,000 shares of the company’s stock valued at $2,410,000 after acquiring an additional 7,000 shares during the period. Cullen Capital Management LLC raised its stake in Coca Cola Femsa by 2.4% during the 2nd quarter. Cullen Capital Management LLC now owns 531,055 shares of the company’s stock valued at $51,369,000 after purchasing an additional 12,312 shares during the period. ABS Direct Equity Fund LLC lifted its holdings in Coca Cola Femsa by 146.9% in the 3rd quarter. ABS Direct Equity Fund LLC now owns 18,900 shares of the company’s stock worth $1,571,000 after purchasing an additional 11,246 shares in the last quarter. Federated Hermes Inc. boosted its stake in Coca Cola Femsa by 23.0% in the 3rd quarter. Federated Hermes Inc. now owns 189,650 shares of the company’s stock worth $15,760,000 after purchasing an additional 35,477 shares during the period. Finally, Russell Investments Group Ltd. grew its holdings in Coca Cola Femsa by 506.5% during the 2nd quarter. Russell Investments Group Ltd. now owns 27,286 shares of the company’s stock valued at $2,639,000 after buying an additional 22,787 shares in the last quarter.

Coca Cola Femsa Trading Up 0.2%

The firm’s 50-day moving average price is $99.09 and its 200-day moving average price is $90.09. The company has a current ratio of 1.10, a quick ratio of 0.90 and a debt-to-equity ratio of 0.50.

Coca Cola Femsa Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 19th. Shareholders of record on Monday, December 8th were paid a $0.9979 dividend. This represents a $3.99 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend was Monday, December 8th. Coca Cola Femsa’s dividend payout ratio (DPR) is presently 64.29%.

About Coca Cola Femsa

Coca‑Cola FEMSA (NYSE: KOF) is a large multinational beverage bottler and distributor operating primarily in Mexico and across multiple markets in Latin America. As a principal franchise bottler for The Coca‑Cola Company, the firm is responsible for producing, packaging, marketing and distributing Coca‑Cola branded beverages and a wide range of nonalcoholic drinks to retail and foodservice customers throughout its territories.

The company’s product portfolio includes carbonated soft drinks, bottled water, juices, ready‑to‑drink teas and coffees, sports and energy drinks, and other noncarbonated beverages.