L2 Asset Management LLC bought a new position in shares of Coca Cola Femsa S.A.B. de C.V. (NYSE:KOF – Free Report) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm bought 16,522 shares of the company’s stock, valued at approximately $3,154,000.
Several other hedge funds also recently made changes to their positions in the company. Paladin Partners LLC acquired a new stake in shares of Coca Cola Femsa during the 2nd quarter valued at approximately $25,000. Caitong International Asset Management Co. Ltd boosted its holdings in Coca Cola Femsa by 482.5% in the third quarter. Caitong International Asset Management Co. Ltd now owns 332 shares of the company’s stock worth $28,000 after purchasing an additional 275 shares during the period. Smartleaf Asset Management LLC boosted its holdings in Coca Cola Femsa by 79.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 346 shares of the company’s stock worth $33,000 after purchasing an additional 153 shares during the period. Northwestern Mutual Wealth Management Co. bought a new stake in Coca Cola Femsa during the second quarter valued at $36,000. Finally, Whipplewood Advisors LLC raised its holdings in shares of Coca Cola Femsa by 862.2% during the first quarter. Whipplewood Advisors LLC now owns 433 shares of the company’s stock worth $42,000 after purchasing an additional 388 shares during the period.
Coca Cola Femsa Stock Performance
Shares of NYSE KOF opened at $114.91 on Tuesday. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.48. The stock has a 50 day simple moving average of $107.20 and a 200-day simple moving average of $105.53. The company has a market cap of $193.12 billion, a PE ratio of 18.12, a P/E/G ratio of 1.33 and a beta of 0.52. Coca Cola Femsa S.A.B. de C.V. has a 12-month low of $80.22 and a 12-month high of $116.36.
Coca Cola Femsa Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, July 24th. Stockholders of record on Monday, July 13th were issued a dividend of $1.1248 per share. This represents a $4.50 dividend on an annualized basis and a dividend yield of 3.9%. 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 dividend payout ratio is 61.99%.
Wall Street Analyst Weigh In
Several equities research analysts recently weighed in on the stock. UBS Group increased their price objective on shares of Coca Cola Femsa from $110.00 to $113.00 and gave the stock a “neutral” rating in a research note on Monday, August 3rd. Wall Street Zen upgraded Coca Cola Femsa from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 8th. HSBC reissued a “hold” rating and issued a $116.00 price target on shares of Coca Cola Femsa in a report on Tuesday, July 28th. Weiss Ratings upgraded Coca Cola Femsa from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, May 29th. Finally, Barclays increased their target price on Coca Cola Femsa from $115.00 to $122.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 29th. Four research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, Coca Cola Femsa has a consensus rating of “Hold” and a consensus target price of $118.83.
Check Out Our Latest Research Report on KOF
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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