Strong Retail Performance Drives Femsa’s Sales in the First Quarter; Shares Remain Fairly Valued
We’re maintaining our longer-term outlook, which calls for high-single-digit sales growth and gross margin around 36%, for narrow-moat Coca-Cola Femsa after reviewing the firm’s first-quarter results. Organic sales grew 5% (lapping a challenging comparison of 19% organic growth in the first quarter of 2017), driven by strong results in the Retail business, and gross margin increased 40 basis points to nearly 36% (in line with our estimate for the year). We aren’t anticipating significant changes...
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.