Paralel Advisors LLC acquired a new position in shares of Coca Cola Femsa S.A.B. de C.V. (NYSE:KOF – Free Report) in the second quarter, Holdings Channel.com reports. The institutional investor acquired 12,047 shares of the company’s stock, valued at approximately $2,300,000.
A number of other large investors also recently made changes to their positions in KOF. Bank of New York Mellon Corp bought a new position in shares of Coca Cola Femsa in the second quarter worth about $2,769,992,000. BlackRock Inc. bought a new stake in Coca Cola Femsa during the 2nd quarter valued at approximately $1,017,381,000. Danske Bank A S acquired a new stake in Coca Cola Femsa in the 2nd quarter valued at approximately $280,671,000. Stack Financial Management Inc acquired a new stake in Coca Cola Femsa in the 2nd quarter valued at approximately $26,079,000. Finally, Bank of America Corp DE increased its position in Coca Cola Femsa by 87.4% in the 2nd quarter. Bank of America Corp DE now owns 589,519 shares of the company’s stock worth $57,024,000 after buying an additional 274,894 shares during the period.
Wall Street Analysts Forecast Growth
Several research firms have recently weighed in on KOF. HSBC reissued a “hold” rating and issued a $116.00 price objective on shares of Coca Cola Femsa in a research report on Tuesday, July 28th. Wall Street Zen upgraded shares of Coca Cola Femsa from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 8th. Barclays boosted their price objective on shares of Coca Cola Femsa from $115.00 to $122.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 29th. Weiss Ratings raised shares of Coca Cola Femsa from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, May 29th. Finally, JPMorgan Chase & Co. increased their target price on shares of Coca Cola Femsa from $114.00 to $127.00 and gave the company a “neutral” rating in a research note on Wednesday, July 15th. Four investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Coca Cola Femsa has a consensus rating of “Hold” and an average target price of $118.83.
Coca Cola Femsa Stock Up 0.0%
NYSE KOF opened at $113.24 on Friday. The stock has a fifty day moving average of $106.98 and a 200-day moving average of $105.43. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.87 and a current ratio of 1.04. The stock has a market capitalization of $190.32 billion, a P/E ratio of 17.86, 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 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. On average, 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 declared a quarterly dividend, which was paid on Friday, July 24th. Investors of record on Monday, July 13th were paid a dividend of $1.1248 per share. This represents a $4.50 dividend on an annualized basis and a dividend yield of 4.0%. This is a positive change from Coca Cola Femsa’s previous quarterly dividend of $1.09. The ex-dividend date of this dividend was Monday, July 13th. Coca Cola Femsa’s payout ratio is presently 62.15%.
Coca Cola Femsa Company 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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