Zacks Investment Research upgraded shares of Coca-Cola FEMSA (NYSE:KOF) from a sell rating to a hold rating in a research report report published on Friday morning.
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 have also weighed in on KOF. UBS Group raised Coca-Cola FEMSA from an underperform rating to a market perform rating in a research report on Thursday, November 9th. Credit Suisse Group lowered Coca-Cola FEMSA from an outperform rating to a neutral rating and set a $128.00 target price on the stock. in a research report on Friday, November 17th. Finally, Morgan Stanley raised Coca-Cola FEMSA from an underweight rating to an equal weight rating in a research report on Wednesday, December 13th. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus target price of $99.67.
Coca-Cola FEMSA (NYSE:KOF) last issued its earnings results on Thursday, February 22nd. The company reported $0.98 earnings per share for the quarter, hitting the consensus estimate of $0.98. The business had revenue of $2.92 billion for the quarter, compared to analyst estimates of $3.10 billion. Coca-Cola FEMSA had a positive return on equity of 11.29% and a negative net margin of 6.34%. equities research analysts predict that Coca-Cola FEMSA will post 3.88 EPS for the current year.
A number of large investors have recently added to or reduced their stakes in the business. Envestnet Asset Management Inc. raised its position in Coca-Cola FEMSA by 39.2% in the fourth quarter. Envestnet Asset Management Inc. now owns 20,640 shares of the company’s stock valued at $1,437,000 after purchasing an additional 5,812 shares during the period. Gotham Asset Management LLC raised its position in Coca-Cola FEMSA by 24.5% in the fourth quarter. Gotham Asset Management LLC now owns 21,573 shares of the company’s stock valued at $1,502,000 after purchasing an additional 4,242 shares during the period. Jane Street Group LLC raised its position in Coca-Cola FEMSA by 323.6% in the fourth quarter. Jane Street Group LLC now owns 13,006 shares of the company’s stock valued at $906,000 after purchasing an additional 9,936 shares during the period. Millennium Management LLC raised its position in Coca-Cola FEMSA by 42.4% in the fourth quarter. Millennium Management LLC now owns 183,050 shares of the company’s stock valued at $12,744,000 after purchasing an additional 54,547 shares during the period. Finally, Ellington Management Group LLC purchased a new position in Coca-Cola FEMSA in the fourth quarter valued at about $418,000. 6.63% of the stock is currently owned by institutional investors.
About Coca-Cola FEMSA
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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