Zacks Investment Research Upgrades Coca-Cola FEMSA (NYSE:KOF) to “Strong-Buy”

Coca-Cola FEMSA (NYSE:KOF) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Wednesday, Zacks.com reports. The firm currently has a $72.00 target price on the stock. Zacks Investment Research‘s target price would suggest a potential upside of 17.04% from the stock’s previous close.

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. “

Separately, Santander lowered shares of Coca-Cola FEMSA from a “buy” rating to a “hold” rating in a research report on Wednesday, April 3rd. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Coca-Cola FEMSA presently has a consensus rating of “Hold” and a consensus price target of $71.67.

Shares of NYSE:KOF traded down $0.19 during trading on Wednesday, reaching $61.52. The stock had a trading volume of 223 shares, compared to its average volume of 51,571. Coca-Cola FEMSA has a 52 week low of $56.19 and a 52 week high of $69.00. The firm has a 50-day simple moving average of $62.96. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.95 and a quick ratio of 0.76. The company has a market cap of $12.94 billion, a PE ratio of 22.70, a PEG ratio of 1.93 and a beta of 0.66.

Coca-Cola FEMSA (NYSE:KOF) last posted its quarterly earnings results on Friday, April 26th. The company reported $0.64 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.73 by ($0.09). The firm had revenue of $2.41 billion for the quarter, compared to analyst estimates of $2.30 billion. Coca-Cola FEMSA had a return on equity of 8.41% and a net margin of 7.33%. Equities research analysts anticipate that Coca-Cola FEMSA will post 3.31 earnings per share for the current fiscal year.

A number of hedge funds have recently made changes to their positions in KOF. Macquarie Group Ltd. boosted its holdings in shares of Coca-Cola FEMSA by 2.5% during the 4th quarter. Macquarie Group Ltd. now owns 2,335,504 shares of the company’s stock valued at $142,092,000 after acquiring an additional 56,100 shares during the last quarter. ARGA Investment Management LP raised its stake in Coca-Cola FEMSA by 13.3% during the 1st quarter. ARGA Investment Management LP now owns 537,571 shares of the company’s stock worth $35,480,000 after acquiring an additional 63,169 shares during the period. Millennium Management LLC raised its stake in Coca-Cola FEMSA by 22.4% during the 4th quarter. Millennium Management LLC now owns 261,488 shares of the company’s stock worth $15,909,000 after acquiring an additional 47,878 shares during the period. FMR LLC raised its stake in Coca-Cola FEMSA by 3.8% during the 1st quarter. FMR LLC now owns 143,100 shares of the company’s stock worth $9,445,000 after acquiring an additional 5,300 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in Coca-Cola FEMSA by 6.8% during the 4th quarter. Bank of New York Mellon Corp now owns 116,481 shares of the company’s stock worth $7,087,000 after acquiring an additional 7,379 shares during the period. 7.15% of the stock is currently owned by institutional investors.

About Coca-Cola FEMSA

Coca-Cola FEMSA, SAB. de C.V., a franchise bottler, produces, markets, sells, and distributes Coca-Cola trademark beverages. The company offers sparkling beverages, including colas and flavored sparkling beverages; and waters and still beverages, such as juice drinks, coffee, teas, milk, value-added dairy, sports drinks, energy drinks, and plant-based drinks.

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