JPMorgan Chase & Co. Cuts Coca Cola Femsa (NYSE:KOF) Price Target to $105.00

Coca Cola Femsa (NYSE:KOF) had its target price reduced by JPMorgan Chase & Co. from $110.00 to $105.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 20.37% from the stock’s previous close.

A number of other research analysts also recently commented on KOF. Barclays set a $100.00 price objective on Coca Cola Femsa and gave the company an “overweight” rating in a report on Thursday, July 31st. Wall Street Zen downgraded Coca Cola Femsa from a “buy” rating to a “hold” rating in a report on Sunday, July 13th. Zacks Research downgraded Coca Cola Femsa from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 26th. Morgan Stanley upgraded Coca Cola Femsa from an “equal weight” rating to an “overweight” rating in a research note on Monday, June 2nd. Finally, UBS Group raised their price target on Coca Cola Femsa from $109.00 to $113.00 and gave the stock a “buy” rating in a research note on Tuesday, July 8th. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $105.00.

Coca Cola Femsa Price Performance

Shares of NYSE KOF opened at $87.23 on Monday. The stock’s 50-day moving average is $85.87 and its two-hundred day moving average is $90.84. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.12 and a quick ratio of 0.90. Coca Cola Femsa has a 1-year low of $72.68 and a 1-year high of $101.74. The company has a market cap of $146.61 billion, a price-to-earnings ratio of 15.28, a price-to-earnings-growth ratio of 1.05 and a beta of 0.64.

Coca Cola Femsa (NYSE:KOF) last issued its quarterly earnings results on Wednesday, July 23rd. The company reported $1.30 earnings per share for the quarter, missing the consensus estimate of $1.52 by ($0.22). Coca Cola Femsa had a return on equity of 15.81% and a net margin of 8.19%.The company had revenue of $3.74 billion for the quarter, compared to analysts’ expectations of $3.89 billion. Analysts forecast that Coca Cola Femsa will post 5.7 EPS for the current fiscal year.

Institutional Investors Weigh In On Coca Cola Femsa

Several institutional investors and hedge funds have recently modified their holdings of KOF. Boston Partners raised its stake in 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 buying an additional 1,644,614 shares in the last quarter. Itau Unibanco Holding S.A. bought a new position in shares of Coca Cola Femsa during the first quarter valued at approximately $88,634,000. Auto Owners Insurance Co grew its holdings in shares of Coca Cola Femsa by 5,257.1% during the second quarter. Auto Owners Insurance Co now owns 300,000 shares of the company’s stock valued at $29,019,000 after purchasing an additional 294,400 shares during the last quarter. Bank of America Corp DE grew its holdings in shares of Coca Cola Femsa by 87.4% during the second quarter. Bank of America Corp DE now owns 589,519 shares of the company’s stock valued at $57,024,000 after purchasing an additional 274,894 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec bought a new position in shares of Coca Cola Femsa during the first quarter valued at approximately $8,782,000.

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.