Coca-Cola FEMSA (NYSE:KOF) Lifted to Buy at Citigroup

Coca-Cola FEMSA (NYSE:KOF) was upgraded by equities research analysts at Citigroup from a “neutral” rating to a “buy” rating in a research report issued on Tuesday, MarketBeat.com reports. The firm presently has a $102.00 price target on the stock, up from their previous price target of $93.00. Citigroup’s target price points to a potential upside of 20.85% from the stock’s previous close.

KOF has been the subject of a number of other reports. UBS Group reduced their price objective on shares of Coca-Cola FEMSA from $112.00 to $102.00 and set a “buy” rating for the company in a research note on Wednesday, July 10th. The Goldman Sachs Group upgraded Coca-Cola FEMSA from a “neutral” rating to a “buy” rating in a report on Tuesday, September 3rd. StockNews.com downgraded Coca-Cola FEMSA from a “strong-buy” rating to a “buy” rating in a research note on Monday. Finally, Barclays upped their price objective on Coca-Cola FEMSA from $105.00 to $110.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Eight analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $104.31.

Coca-Cola FEMSA Price Performance

Shares of KOF opened at $84.40 on Tuesday. The company has a 50 day moving average of $87.50 and a 200-day moving average of $89.60. The company has a quick ratio of 0.87, a current ratio of 1.05 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $141.85 billion, a P/E ratio of 14.86, a P/E/G ratio of 0.70 and a beta of 0.86. Coca-Cola FEMSA has a twelve month low of $75.42 and a twelve month high of $104.38.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Itau Unibanco Holding S.A. increased its stake in shares of Coca-Cola FEMSA by 13.9% during the second quarter. Itau Unibanco Holding S.A. now owns 508,967 shares of the company’s stock worth $42,025,000 after purchasing an additional 62,282 shares during the period. Price T Rowe Associates Inc. MD bought a new position in Coca-Cola FEMSA during the first quarter worth about $3,346,000. Quadrature Capital Ltd acquired a new stake in Coca-Cola FEMSA in the 1st quarter worth about $4,217,000. Marshall Wace LLP bought a new stake in Coca-Cola FEMSA in the 2nd quarter valued at about $7,708,000. Finally, Canada Pension Plan Investment Board acquired a new position in shares of Coca-Cola FEMSA during the 2nd quarter worth approximately $2,515,000.

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.