Coca Cola Femsa S.A.B. de C.V. (NYSE:KOF – Get Free Report) reached a new 52-week high during trading on Wednesday. The stock traded as high as $117.12 and last traded at $117.1750, with a volume of 45,530 shares. The stock had previously closed at $115.60.
Wall Street Analyst Weigh In
A number of equities research analysts recently weighed in on KOF shares. Barclays boosted their price target on shares of 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. HSBC reaffirmed a “hold” rating and issued a $116.00 price objective (down from $120.00) on shares of Coca Cola Femsa in a research note on Tuesday, July 28th. UBS Group increased their price target on shares of Coca Cola Femsa from $110.00 to $113.00 and gave the company a “neutral” rating in a research report on Monday, August 3rd. JPMorgan Chase & Co. upped their price objective on Coca Cola Femsa from $114.00 to $127.00 and gave the company a “neutral” rating in a research report on Wednesday, July 15th. Finally, Weiss Ratings raised Coca Cola Femsa from a “buy (b)” rating to a “buy (b+)” rating in a research note on Thursday, October 8th. 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, the stock presently has a consensus rating of “Hold” and a consensus target price of $118.83.
Read Our Latest Analysis on Coca Cola Femsa
Coca Cola Femsa Trading Up 1.1%
Coca Cola Femsa (NYSE:KOF – Get Free Report) last issued its quarterly earnings data on Wednesday, July 1st. The company reported $1.69 earnings per share for the quarter. Coca Cola Femsa had a return on equity of 15.83% and a net margin of 8.05%. The firm had revenue of $4.36 billion during the quarter. As a group, equities analysts predict that Coca Cola Femsa S.A.B. de C.V. will post 6.98 earnings per share for the current fiscal year.
Coca Cola Femsa Cuts Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 23rd. Investors of record on Friday, October 9th will be paid a dividend of $1.0838 per share. This represents a $4.34 annualized dividend and a yield of 3.7%. This is a negative change from Coca Cola Femsa’s previous quarterly dividend of $1.1248. The ex-dividend date is Friday, October 9th. Coca Cola Femsa’s dividend payout ratio (DPR) is currently 61.51%.
Hedge Funds Weigh In On Coca Cola Femsa
Institutional investors have recently modified their holdings of the company. Capital Advisors Wealth Management LLC raised its stake in shares of Coca Cola Femsa by 3.4% during the third quarter. Capital Advisors Wealth Management LLC now owns 10,111 shares of the company’s stock valued at $1,092,000 after purchasing an additional 330 shares in the last quarter. QRG Capital Management Inc. boosted its stake in shares of Coca Cola Femsa by 8.8% during the 2nd quarter. QRG Capital Management Inc. now owns 4,950 shares of the company’s stock worth $526,000 after acquiring an additional 399 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new stake in shares of Coca Cola Femsa during the second quarter worth $235,000. Public Employees Retirement System of Ohio acquired a new stake in Coca Cola Femsa during the 2nd quarter valued at $2,319,000. Finally, BIP Wealth LLC acquired a new stake in shares of Coca Cola Femsa in the second quarter worth $6,129,000.
Coca Cola Femsa Company Profile
Coca-Cola FEMSA, SAB. de C.V. (NYSE: KOF) is the world’s largest franchise bottler of Coca-Cola products by sales volume. The company produces, distributes, markets and sells beverages under The Coca-Cola Company’s trademark brands, along with a portfolio of other beverages tailored to local markets.
Its products include sparkling soft drinks such as Coca-Cola, Sprite and Fanta, as well as bottled water, juices, sports drinks, energy beverages and other non-alcoholic drinks. Coca-Cola FEMSA serves customers through a broad distribution network that includes retailers, restaurants, food-service businesses and other commercial channels.
The company is headquartered in Mexico and is part of FEMSA, a Latin American beverage and retail group.
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