Coca-Cola FEMSA (NYSE:KOF) Shares Up 3.4% – Here’s What Happened

Coca-Cola FEMSA, S.A.B. de C.V. (NYSE:KOF)’s share price was up 3.4% on Thursday . The company traded as high as $98.87 and last traded at $98.29. Approximately 152,045 shares were traded during mid-day trading, a decline of 12% from the average daily volume of 172,269 shares. The stock had previously closed at $95.06.

Analysts Set New Price Targets

Several equities research analysts have issued reports on KOF shares. Barclays increased their target price on Coca-Cola FEMSA from $99.00 to $105.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 4th. StockNews.com cut shares of Coca-Cola FEMSA from a “strong-buy” rating to a “buy” rating in a report on Wednesday. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Coca-Cola FEMSA currently has an average rating of “Buy” and an average price target of $104.00.

Coca-Cola FEMSA Stock Up 1.8 %

The stock has a market cap of $162.62 billion, a P/E ratio of 16.43, a P/E/G ratio of 0.62 and a beta of 0.79. The company has a quick ratio of 0.94, a current ratio of 1.14 and a debt-to-equity ratio of 0.47. The company has a 50-day simple moving average of $85.23 and a two-hundred day simple moving average of $83.28.

Coca-Cola FEMSA (NYSE:KOF) last issued its quarterly earnings results on Friday, February 21st. The company reported $1.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.51 by $0.22. The company had revenue of $3.76 billion during the quarter, compared to analysts’ expectations of $3.49 billion. Coca-Cola FEMSA had a net margin of 8.12% and a return on equity of 15.99%. On average, equities analysts forecast that Coca-Cola FEMSA, S.A.B. de C.V. will post 5.7 EPS for the current year.

Institutional Investors Weigh In On Coca-Cola FEMSA

A number of large investors have recently added to or reduced their stakes in KOF. HighTower Advisors LLC boosted its stake in shares of Coca-Cola FEMSA by 43.3% in the 3rd quarter. HighTower Advisors LLC now owns 4,844 shares of the company’s stock worth $428,000 after buying an additional 1,464 shares during the last quarter. Wexford Capital LP boosted its position in Coca-Cola FEMSA by 13.8% in the third quarter. Wexford Capital LP now owns 122,930 shares of the company’s stock worth $10,906,000 after purchasing an additional 14,938 shares during the last quarter. Kovitz Investment Group Partners LLC grew its stake in shares of Coca-Cola FEMSA by 44.4% during the 3rd quarter. Kovitz Investment Group Partners LLC now owns 9,311 shares of the company’s stock valued at $825,000 after purchasing an additional 2,865 shares during the period. National Bank of Canada FI increased its position in shares of Coca-Cola FEMSA by 54,847.8% during the 3rd quarter. National Bank of Canada FI now owns 25,276 shares of the company’s stock valued at $2,242,000 after purchasing an additional 25,230 shares during the last quarter. Finally, XTX Topco Ltd bought a new position in shares of Coca-Cola FEMSA in the 3rd quarter worth approximately $361,000.

Coca-Cola FEMSA Company Profile

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.