Coca Cola Femsa S.A.B. de C.V. (KOF) Upgraded to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Coca Cola Femsa S.A.B. de C.V. (NYSE:KOF) from a hold rating to a buy rating in a research note issued to investors on Thursday morning. They currently have $90.00 target price 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 brokerages also recently weighed in on KOF. BidaskClub raised Coca Cola Femsa S.A.B. de C.V. from a hold rating to a buy rating in a report on Thursday, August 17th. Scotiabank raised Coca Cola Femsa S.A.B. de C.V. from a sector perform rating to an outperform rating in a report on Wednesday, July 5th. Finally, Citigroup Inc. cut Coca Cola Femsa S.A.B. de C.V. from a buy rating to a neutral rating in a research report on Tuesday, June 13th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus target price of $87.00.

Shares of Coca Cola Femsa S.A.B. de C.V. (NYSE:KOF) traded down 2.20% during mid-day trading on Thursday, hitting $78.12. 25,029 shares of the stock were exchanged. Coca Cola Femsa S.A.B. de C.V. has a 12 month low of $59.44 and a 12 month high of $91.85. The firm has a market cap of $16.41 billion, a P/E ratio of 17.34 and a beta of 0.95. The stock’s 50 day moving average is $83.16 and its 200 day moving average is $78.96.

Coca Cola Femsa S.A.B. de C.V. (NYSE:KOF) last announced its quarterly earnings results on Monday, July 24th. The company reported $0.58 EPS for the quarter, missing the consensus estimate of $0.63 by ($0.05). Coca Cola Femsa S.A.B. de C.V. had a net margin of 7.09% and a return on equity of 10.72%. The firm had revenue of $2.70 billion for the quarter, compared to analysts’ expectations of $2.71 billion. Analysts expect that Coca Cola Femsa S.A.B. de C.V. will post $3.81 EPS for the current fiscal year.

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A number of hedge funds have recently made changes to their positions in KOF. Macquarie Group Ltd. raised its position in Coca Cola Femsa S.A.B. de C.V. by 120.0% during the first quarter. Macquarie Group Ltd. now owns 1,994,126 shares of the company’s stock valued at $142,984,000 after acquiring an additional 1,087,672 shares in the last quarter. Credit Agricole S A purchased a new position in Coca Cola Femsa S.A.B. de C.V. during the first quarter valued at approximately $66,323,000. Principal Financial Group Inc. purchased a new position in Coca Cola Femsa S.A.B. de C.V. during the second quarter valued at approximately $18,016,000. Acadian Asset Management LLC raised its position in Coca Cola Femsa S.A.B. de C.V. by 984.2% during the second quarter. Acadian Asset Management LLC now owns 89,878 shares of the company’s stock valued at $7,612,000 after acquiring an additional 81,588 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position in Coca Cola Femsa S.A.B. de C.V. by 327.8% during the first quarter. JPMorgan Chase & Co. now owns 75,874 shares of the company’s stock valued at $5,440,000 after acquiring an additional 58,138 shares in the last quarter. Institutional investors own 6.68% of the company’s stock.

Coca Cola Femsa S.A.B. de C.V. Company Profile

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.

Analyst Recommendations for Coca Cola Femsa S.A.B. de C.V. (NYSE:KOF)

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