Coca Cola Femsa (NYSE:KOF) Cut to “Neutral” at JPMorgan Chase & Co.

JPMorgan Chase & Co. cut shares of Coca Cola Femsa (NYSE:KOF) from an overweight rating to a neutral rating in a research note published on Wednesday morning, MarketBeat reports. JPMorgan Chase & Co. currently has $100.00 price target on the stock.

A number of other equities analysts have also recently issued reports on the stock. Weiss Ratings reissued a “buy (b-)” rating on shares of Coca Cola Femsa in a research report on Friday, December 26th. Zacks Research raised Coca Cola Femsa from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 11th. Barclays reissued an “equal weight” rating and issued a $98.00 price objective on shares of Coca Cola Femsa in a research note on Tuesday, December 2nd. Wall Street Zen raised Coca Cola Femsa from a “hold” rating to a “buy” rating in a research report on Saturday, December 27th. Finally, UBS Group lifted their price target on shares of Coca Cola Femsa from $109.00 to $111.00 and gave the company a “buy” rating in a research report on Friday, January 9th. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Coca Cola Femsa currently has an average rating of “Moderate Buy” and a consensus price target of $103.00.

Coca Cola Femsa Stock Performance

NYSE:KOF opened at $104.26 on Wednesday. The firm has a market capitalization of $174.81 billion, a P/E ratio of 18.16, a P/E/G ratio of 1.33 and a beta of 0.51. Coca Cola Femsa has a twelve month low of $76.36 and a twelve month high of $109.06. The company has a fifty day moving average of $95.65 and a 200-day moving average of $88.92. The company has a quick ratio of 0.90, a current ratio of 1.10 and a debt-to-equity ratio of 0.50.

Coca Cola Femsa Cuts Dividend

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

Hedge Funds Weigh In On Coca Cola Femsa

A number of hedge funds have recently bought and sold shares of the company. ABS Direct Equity Fund LLC raised its holdings in shares of Coca Cola Femsa by 6.1% in the fourth quarter. ABS Direct Equity Fund LLC now owns 20,050 shares of the company’s stock valued at $1,899,000 after purchasing an additional 1,150 shares during the last quarter. Kestra Private Wealth Services LLC boosted its holdings in Coca Cola Femsa by 43.2% during the fourth quarter. Kestra Private Wealth Services LLC now owns 5,548 shares of the company’s stock worth $525,000 after purchasing an additional 1,674 shares during the last quarter. UBS Group AG grew its position in Coca Cola Femsa by 36.2% in the 4th quarter. UBS Group AG now owns 126,584 shares of the company’s stock worth $11,989,000 after purchasing an additional 33,613 shares in the last quarter. Farther Finance Advisors LLC increased its stake in Coca Cola Femsa by 490.7% in the 4th quarter. Farther Finance Advisors LLC now owns 508 shares of the company’s stock valued at $48,000 after buying an additional 422 shares during the last quarter. Finally, Hartford Financial Management Inc. lifted its position in shares of Coca Cola Femsa by 334.4% during the 4th quarter. Hartford Financial Management Inc. now owns 1,490 shares of the company’s stock worth $141,000 after buying an additional 1,147 shares in the last quarter.

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.