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KOF - FEMSA Has Value Here But Corporate Strategy Is Now Controversial
Coca Cola Femsa S.A.B. de C.V.
With global economies breaking under the strain of Covid-19, consumer staples like soda, beer, and the like should hold up better on balance. Add in currency risk and worries about the health of the Mexican economy (and the Mexican consumer) and corporate capital allocation decisions, though, and you have a decidedly less supportive environment for FEMSA (FMX) these days.
I think I can see where FEMSA management is going with its recent capital allocation decisions, but the fact remains that these are significant allocations of capital outside of what FEMSA does best, with