Patron Partners LLC purchased a new stake in Coca Cola Femsa S.A.B. de C.V. (NYSE:KOF – Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,938 shares of the company’s stock, valued at approximately $1,134,000.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp purchased a new stake in shares of Coca Cola Femsa during the 2nd quarter worth approximately $2,769,992,000. BlackRock Inc. acquired a new stake in Coca Cola Femsa during the 2nd quarter worth $1,017,381,000. Danske Bank A S purchased a new stake in Coca Cola Femsa in the second quarter valued at $280,671,000. Boston Partners lifted its position in Coca Cola Femsa by 1.9% in the fourth quarter. Boston Partners now owns 1,681,676 shares of the company’s stock valued at $159,287,000 after acquiring an additional 31,499 shares during the last quarter. Finally, Bank of America Corp DE boosted its stake in Coca Cola Femsa by 87.4% in the second quarter. Bank of America Corp DE now owns 589,519 shares of the company’s stock valued at $57,024,000 after acquiring an additional 274,894 shares in the last quarter.
Analyst Ratings Changes
Several equities analysts have issued reports on the company. JPMorgan Chase & Co. raised their price objective on Coca Cola Femsa from $114.00 to $127.00 and gave the stock a “neutral” rating in a report on Wednesday, July 15th. Barclays upped their target price on Coca Cola Femsa from $115.00 to $122.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 29th. Weiss Ratings upgraded Coca Cola Femsa from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, May 29th. UBS Group lifted their price target on Coca Cola Femsa from $110.00 to $113.00 and gave the stock a “neutral” rating in a research report on Monday, August 3rd. Finally, HSBC reiterated a “hold” rating and issued a $116.00 price objective on shares of Coca Cola Femsa in a research note on Tuesday, July 28th. Four investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $118.83.
Coca Cola Femsa Stock Performance
Shares of KOF stock opened at $112.15 on Friday. The stock’s 50-day moving average price is $107.05 and its 200 day moving average price is $105.48. 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 stock has a market capitalization of $188.49 billion, a PE ratio of 17.69, a price-to-earnings-growth ratio of 1.34 and a beta of 0.52. Coca Cola Femsa S.A.B. de C.V. has a 52-week low of $80.22 and a 52-week high of $116.36.
Coca Cola Femsa (NYSE:KOF – Get Free Report) last announced its earnings results on Wednesday, July 1st. The company reported $1.69 earnings per share for the quarter. The company had revenue of $4.36 billion for the quarter. Coca Cola Femsa had a return on equity of 15.83% and a net margin of 8.05%. As a group, equities research analysts forecast that Coca Cola Femsa S.A.B. de C.V. will post 6.93 EPS for the current year.
Coca Cola Femsa Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 24th. Shareholders of record on Monday, July 13th were issued a $1.1248 dividend. The ex-dividend date of this dividend was Monday, July 13th. This represents a $4.50 dividend on an annualized basis and a yield of 4.0%. This is a boost from Coca Cola Femsa’s previous quarterly dividend of $1.09. Coca Cola Femsa’s dividend payout ratio is presently 61.99%.
Coca Cola Femsa Profile
Coca‑Cola FEMSA (NYSE: KOF) is a large multinational beverage bottler and distributor operating primarily in Mexico and across multiple markets in Latin America. As a principal franchise bottler for The Coca‑Cola Company, the firm is responsible for producing, packaging, marketing and distributing Coca‑Cola branded beverages and a wide range of nonalcoholic drinks to retail and foodservice customers throughout its territories.
The company’s product portfolio includes carbonated soft drinks, bottled water, juices, ready‑to‑drink teas and coffees, sports and energy drinks, and other noncarbonated beverages.
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