Coca Cola Femsa S.A.B. de C.V. (NYSE:KOF) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a report released on Wednesday.

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 research analysts also recently weighed in on the stock. Scotiabank upgraded shares of Coca Cola Femsa S.A.B. de C.V. from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, July 5th. Citigroup Inc. upgraded shares of Coca Cola Femsa S.A.B. de C.V. from a “sell” rating to a “neutral” rating in a research note on Thursday, October 26th. Finally, BidaskClub downgraded shares of Coca Cola Femsa S.A.B. de C.V. from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 3rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $85.50.

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Several hedge funds have recently made changes to their positions in KOF. Principal Financial Group Inc. bought a new position in Coca Cola Femsa S.A.B. de C.V. during the 2nd quarter valued at $18,016,000. Macquarie Group Ltd. boosted its stake in Coca Cola Femsa S.A.B. de C.V. by 8.0% during the 2nd quarter. Macquarie Group Ltd. now owns 2,153,610 shares of the company’s stock valued at $182,354,000 after acquiring an additional 159,484 shares during the last quarter. Acadian Asset Management LLC boosted its stake in Coca Cola Femsa S.A.B. de C.V. by 984.2% during the 2nd 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 during the last quarter. Bank of America Corp DE boosted its stake in Coca Cola Femsa S.A.B. de C.V. by 312.8% during the 1st quarter. Bank of America Corp DE now owns 70,267 shares of the company’s stock valued at $5,037,000 after acquiring an additional 53,245 shares during the last quarter. Finally, Victory Capital Management Inc. bought a new position in Coca Cola Femsa S.A.B. de C.V. during the 2nd quarter valued at $4,480,000. Institutional investors and hedge funds own 6.65% of the company’s stock.

About Coca Cola Femsa S.A.B. de C.V.

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.

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