Coca Cola Femsa (NYSE:KOF) Sets New 1-Year High - Here's What Happened

Key Points

• Coca-Cola FEMSA reached a new 52-week high, trading as high as $117.12 and last at $117.175, up from its prior close of $115.60.
• Analyst sentiment remains cautious, with a consensus “Hold” rating and an average price target of $118.83; target prices range from $113 to $127.
• The company reported quarterly EPS of $1.69 on $4.36 billion in revenue and reduced its quarterly dividend to $1.0838 from $1.1248, implying a 3.7% annualized yield.

Coca Cola Femsa S.A.B. de C.V. (NYSE:KOF - Get Free Report) hit a new 52-week high during trading on Wednesday. The stock traded as high as $117.12 and last traded at $117.1750, with a volume of 45,530 shares trading hands. The stock had previously closed at $115.60.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Wall Street Zen lowered Coca Cola Femsa from a "strong-buy" rating to a "buy" rating in a report on Saturday, September 12th. HSBC reaffirmed a "hold" rating and issued a $116.00 target price (down from $120.00) on shares of Coca Cola Femsa in a research report on Tuesday, July 28th. JPMorgan Chase & Co. increased their target price on Coca Cola Femsa from $114.00 to $127.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 15th. Barclays lifted their target price on Coca Cola Femsa from $115.00 to $122.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 29th. Finally, UBS Group upped their price target on shares of Coca Cola Femsa from $110.00 to $113.00 and gave the company a "neutral" rating in a research note on Monday, August 3rd. Four research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $118.83.

Coca Cola Femsa Stock Up 1.1%

The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.48. The firm has a market cap of $196.39 billion, a P/E ratio of 18.41, a PEG ratio of 1.55 and a beta of 0.52. The stock's 50-day simple moving average is $110.68 and its 200 day simple moving average is $106.81.

Coca Cola Femsa (NYSE:KOF - Get Free Report) last issued its quarterly earnings data on Wednesday, July 1st. The company reported $1.69 earnings per share (EPS) for the quarter. Coca Cola Femsa had a net margin of 8.05% and a return on equity of 15.83%. The business had revenue of $4.36 billion during the quarter. As a group, research analysts forecast that Coca Cola Femsa S.A.B. de C.V. will post 6.98 EPS for the current fiscal year.

Coca Cola Femsa Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 23rd. Stockholders of record on Friday, October 9th will be paid a $1.0838 dividend. This is a decrease from Coca Cola Femsa's previous quarterly dividend of $1.1248. This represents a $4.34 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend is Friday, October 9th. Coca Cola Femsa's payout ratio is currently 61.51%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Stack Financial Management Inc acquired a new position in Coca Cola Femsa in the second quarter valued at approximately $26,079,000. Bryn Mawr Trust Advisors LLC acquired a new position in shares of Coca Cola Femsa during the 2nd quarter valued at about $12,512,000. Everett Harris & Co. CA purchased a new stake in shares of Coca Cola Femsa in the 2nd quarter valued at approximately $7,619,000. BIP Wealth LLC acquired a new stake in shares of Coca Cola Femsa during the 2nd quarter worth about $6,129,000. Finally, Summit Global Investments acquired a new position in Coca Cola Femsa during the second quarter worth $4,921,000.

Coca Cola Femsa Company Profile

Coca-Cola FEMSA, SAB. de C.V. NYSE: KOF is the world's largest franchise bottler of Coca-Cola products by sales volume. The company produces, distributes, markets and sells beverages under The Coca-Cola Company's trademark brands, along with a portfolio of other beverages tailored to local markets.

Its products include sparkling soft drinks such as Coca-Cola, Sprite and Fanta, as well as bottled water, juices, sports drinks, energy beverages and other non-alcoholic drinks. Coca-Cola FEMSA serves customers through a broad distribution network that includes retailers, restaurants, food-service businesses and other commercial channels.

The company is headquartered in Mexico and is part of FEMSA, a Latin American beverage and retail group.

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