UBS Group Cuts Coca Cola Femsa (NYSE:KOF) Price Target to $109.00

Coca Cola Femsa (NYSE:KOF) had its price objective cut by UBS Group from $113.00 to $109.00 in a research report sent to investors on Wednesday morning,Benzinga reports. They currently have a buy rating on the stock.

KOF has been the subject of a number of other research reports. Weiss Ratings lowered Coca Cola Femsa from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, October 8th. JPMorgan Chase & Co. reduced their target price on Coca Cola Femsa from $110.00 to $105.00 and set a “neutral” rating for the company in a research note on Monday, September 15th. Wall Street Zen lowered shares of Coca Cola Femsa from a “buy” rating to a “hold” rating in a research note on Sunday, November 9th. Barclays cut their price target on shares of Coca Cola Femsa from $100.00 to $98.00 and set an “overweight” rating on the stock in a report on Monday, November 3rd. Finally, Zacks Research lowered shares of Coca Cola Femsa from a “hold” rating to a “strong sell” rating in a report on Wednesday, September 24th. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $104.00.

Coca Cola Femsa Price Performance

KOF opened at $87.87 on Wednesday. Coca Cola Femsa has a twelve month low of $72.68 and a twelve month high of $101.74. The firm has a market cap of $147.68 billion, a price-to-earnings ratio of 15.31, a PEG ratio of 1.08 and a beta of 0.61. The company has a current ratio of 1.10, a quick ratio of 0.90 and a debt-to-equity ratio of 0.50. The company has a fifty day simple moving average of $85.14 and a 200 day simple moving average of $88.79.

Coca Cola Femsa (NYSE:KOF) last posted its quarterly earnings data on Friday, October 24th. The company reported $1.51 earnings per share for the quarter, beating analysts’ consensus estimates of $1.48 by $0.03. The company had revenue of $3.88 billion during the quarter, compared to analysts’ expectations of $3.96 billion. Coca Cola Femsa had a net margin of 8.13% and a return on equity of 15.79%. Equities research analysts expect that Coca Cola Femsa will post 5.7 EPS for the current fiscal year.

Coca Cola Femsa Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 27th. Investors of record on Tuesday, October 14th were given a dividend of $1.0006 per share. The ex-dividend date of this dividend was Tuesday, October 14th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 4.6%. This is a boost from Coca Cola Femsa’s previous quarterly dividend of $0.87. Coca Cola Femsa’s payout ratio is currently 62.54%.

Hedge Funds Weigh In On Coca Cola Femsa

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Boston Partners grew its holdings in shares of Coca Cola Femsa by 4,404.3% during the second quarter. Boston Partners now owns 1,681,955 shares of the company’s stock valued at $162,665,000 after purchasing an additional 1,644,614 shares during the last quarter. Itau Unibanco Holding S.A. acquired a new position in Coca Cola Femsa during the 1st quarter valued at approximately $88,634,000. Bank of America Corp DE grew its stake in Coca Cola Femsa by 87.4% during the 2nd quarter. Bank of America Corp DE now owns 589,519 shares of the company’s stock worth $57,024,000 after buying an additional 274,894 shares during the last quarter. Cullen Capital Management LLC increased its position in Coca Cola Femsa by 2.4% in the second quarter. Cullen Capital Management LLC now owns 531,055 shares of the company’s stock worth $51,369,000 after buying an additional 12,312 shares during the period. Finally, First Eagle Investment Management LLC lifted its stake in Coca Cola Femsa by 4.1% in the second quarter. First Eagle Investment Management LLC now owns 371,596 shares of the company’s stock valued at $35,944,000 after buying an additional 14,773 shares during the last quarter.

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.