Zacks Investment Research upgraded shares of Coca Cola Femsa S.A.B. de C.V. (NYSE:KOF) from a hold rating to a buy rating in a research note published on Thursday. They currently have $90.00 price objective on the stock.

According to Zacks, “Coca-Cola Femsa S.A., through its subsidiaries, produces, markets and distributes soft drinks throughout the metropolitan area of Mexico City, in Southeastern Mexico and in metropolitan Buenos Aires, Argentina. The Company produces Coca-Cola, Sprite, Fresca, Quatro, Powerade, Extra Poma, Etiqueta Azul and Kin. “

KOF has been the subject of a number of other reports. BidaskClub raised shares of Coca Cola Femsa S.A.B. de C.V. from a hold rating to a buy rating in a report on Thursday, August 17th. Scotiabank raised shares of Coca Cola Femsa S.A.B. de C.V. from a sector perform rating to an outperform rating in a report on Wednesday, July 5th. Finally, Citigroup Inc. cut shares of Coca Cola Femsa S.A.B. de C.V. from a buy rating to a neutral rating in a report on Tuesday, June 13th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average target price of $87.00.

Coca Cola Femsa S.A.B. de C.V. (NYSE:KOF) opened at 78.71 on Thursday. The stock has a market capitalization of $16.54 billion, a price-to-earnings ratio of 17.47 and a beta of 0.95. Coca Cola Femsa S.A.B. de C.V. has a 1-year low of $59.44 and a 1-year high of $91.85. The company has a 50-day moving average of $82.91 and a 200-day moving average of $79.05.

Coca Cola Femsa S.A.B. de C.V. (NYSE:KOF) last announced its earnings results on Monday, July 24th. The company reported $0.58 EPS for the quarter, missing the Zacks’ consensus estimate of $0.63 by ($0.05). Coca Cola Femsa S.A.B. de C.V. had a net margin of 7.09% and a return on equity of 10.72%. The business had revenue of $2.70 billion for the quarter, compared to analysts’ expectations of $2.71 billion. Analysts anticipate that Coca Cola Femsa S.A.B. de C.V. will post $3.83 earnings per share for the current fiscal year.

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A number of hedge funds have recently made changes to their positions in the business. Macquarie Group Ltd. increased its holdings in Coca Cola Femsa S.A.B. de C.V. by 8.0% during the second quarter. Macquarie Group Ltd. now owns 2,153,610 shares of the company’s stock valued at $182,354,000 after buying an additional 159,484 shares during the last quarter. Credit Agricole S A purchased a new stake in shares of Coca Cola Femsa S.A.B. de C.V. in the first quarter worth $66,323,000. Renaissance Technologies LLC increased its stake in shares of Coca Cola Femsa S.A.B. de C.V. by 0.4% in the first quarter. Renaissance Technologies LLC now owns 921,100 shares of the company’s stock worth $66,043,000 after purchasing an additional 3,300 shares in the last quarter. Burgundy Asset Management Ltd. increased its stake in shares of Coca Cola Femsa S.A.B. de C.V. by 1.3% in the second quarter. Burgundy Asset Management Ltd. now owns 396,042 shares of the company’s stock worth $33,533,000 after purchasing an additional 5,103 shares in the last quarter. Finally, Principal Financial Group Inc. purchased a new stake in shares of Coca Cola Femsa S.A.B. de C.V. in the second quarter worth $18,016,000. 6.68% of the stock is owned by institutional investors and hedge funds.

About Coca Cola Femsa S.A.B. de C.V.

Coca-Cola FEMSA, SAB. de C.V. is a franchise bottler of Coca-Cola trademark beverages across the world. The Company and its subsidiaries are engaged in the production, distribution and marketing of certain Coca-Cola beverages. It is also engaged in acquiring, holding and transferring all types of bonds, shares and marketable securities.

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Analyst Recommendations for Coca Cola Femsa S.A.B. de C.V. (NYSE:KOF)

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