Coca Cola Femsa (NYSE:KOF) Reaches New 52-Week High – Here’s Why

Shares of Coca Cola Femsa S.A.B. de C.V. (NYSE:KOF) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $109.06 and last traded at $108.8810, with a volume of 174422 shares changing hands. The stock had previously closed at $105.79.

Analysts Set New Price Targets

Several analysts have commented on the stock. Weiss Ratings reiterated a “buy (b-)” rating on shares of Coca Cola Femsa in a research report on Friday, December 26th. Zacks Research upgraded Coca Cola Femsa from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 11th. JPMorgan Chase & Co. cut Coca Cola Femsa from an “overweight” rating to a “neutral” rating and set a $100.00 target price on the stock. in a report on Wednesday. Barclays restated an “equal weight” rating and set a $98.00 target price on shares of Coca Cola Femsa in a research report on Tuesday, December 2nd. Finally, Wall Street Zen upgraded shares of Coca Cola Femsa from a “hold” rating to a “buy” rating in a research report on Saturday, December 27th. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $103.00.

Coca Cola Femsa Stock Down 2.7%

The firm has a market capitalization of $179.86 billion, a P/E ratio of 18.14, a PEG ratio of 1.36 and a beta of 0.51. The firm’s 50-day moving average is $95.33 and its 200 day moving average is $88.82. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.90 and a current ratio of 1.10.

Coca Cola Femsa Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 19th. Stockholders of record on Monday, December 8th were given a $0.9979 dividend. This represents a $3.99 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend was Monday, December 8th. Coca Cola Femsa’s payout ratio is currently 64.29%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Boston Partners increased its position in shares of Coca Cola Femsa by 4,404.3% during the 2nd quarter. Boston Partners now owns 1,681,955 shares of the company’s stock worth $162,665,000 after purchasing an additional 1,644,614 shares during the last quarter. Auto Owners Insurance Co boosted its holdings in shares of Coca Cola Femsa by 5,257.1% in the 2nd quarter. Auto Owners Insurance Co now owns 300,000 shares of the company’s stock valued at $29,019,000 after buying an additional 294,400 shares during the last quarter. Bank of America Corp DE grew its stake in shares of Coca Cola Femsa by 87.4% in the second quarter. Bank of America Corp DE now owns 589,519 shares of the company’s stock valued at $57,024,000 after buying an additional 274,894 shares in the last quarter. Crossmark Global Holdings Inc. acquired a new position in Coca Cola Femsa during the third quarter worth $12,584,000. Finally, Lakewood Capital Management LP bought a new stake in Coca Cola Femsa during the third quarter worth $10,953,000.

About Coca Cola Femsa

Coca?Cola FEMSA (NYSE: KOF) is a large multinational beverage bottler and distributor operating primarily in Mexico and across multiple markets in Latin America. As a principal franchise bottler for The Coca?Cola Company, the firm is responsible for producing, packaging, marketing and distributing Coca?Cola branded beverages and a wide range of nonalcoholic drinks to retail and foodservice customers throughout its territories.

The company’s product portfolio includes carbonated soft drinks, bottled water, juices, ready?to?drink teas and coffees, sports and energy drinks, and other noncarbonated beverages.