Coca-Cola FEMSA (NYSE:KOF) Reaches New 52-Week Low – Here’s What Happened

Coca-Cola FEMSA, S.A.B. de C.V. (NYSE:KOF) shares reached a new 52-week low on Wednesday . The stock traded as low as $73.37 and last traded at $73.78, with a volume of 97612 shares trading hands. The stock had previously closed at $75.55.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Barclays dropped their target price on shares of Coca-Cola FEMSA from $110.00 to $108.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th. StockNews.com upgraded shares of Coca-Cola FEMSA from a “buy” rating to a “strong-buy” rating in a report on Tuesday, November 5th. Finally, Citigroup upgraded shares of Coca-Cola FEMSA from a “neutral” rating to a “buy” rating and increased their target price for the company from $93.00 to $102.00 in a research note on Tuesday, October 29th. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $104.75.

Coca-Cola FEMSA Price Performance

The stock has a market cap of $128.46 billion, a price-to-earnings ratio of 12.98, a P/E/G ratio of 0.55 and a beta of 0.83. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.14 and a quick ratio of 0.94. The stock’s 50 day simple moving average is $78.55 and its two-hundred day simple moving average is $83.85.

Coca-Cola FEMSA Cuts Dividend

The firm also recently announced a semi-annual dividend, which was paid on Thursday, December 19th. Stockholders of record on Friday, December 6th were given a dividend of $0.7433 per share. The ex-dividend date of this dividend was Friday, December 6th. This represents a dividend yield of 3.7%. Coca-Cola FEMSA’s dividend payout ratio (DPR) is currently 11.71%.

Hedge Funds Weigh In On Coca-Cola FEMSA

Hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. grew its position in Coca-Cola FEMSA by 90.5% in the third quarter. JPMorgan Chase & Co. now owns 796,574 shares of the company’s stock valued at $70,672,000 after acquiring an additional 378,325 shares during the period. Allspring Global Investments Holdings LLC acquired a new stake in shares of Coca-Cola FEMSA in the 3rd quarter valued at $31,000. Marshall Wace LLP bought a new stake in shares of Coca-Cola FEMSA in the 2nd quarter worth about $7,708,000. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Coca-Cola FEMSA by 73.9% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 261,049 shares of the company’s stock worth $23,160,000 after purchasing an additional 110,926 shares in the last quarter. Finally, HighTower Advisors LLC increased its position in shares of Coca-Cola FEMSA by 43.3% during the 3rd quarter. HighTower Advisors LLC now owns 4,844 shares of the company’s stock worth $428,000 after purchasing an additional 1,464 shares in the last quarter.

About Coca-Cola FEMSA

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.