Corvex Management LP Grows Stake in Coca-Cola FEMSA, S.A.B. de C.V. (NYSE:KOF)

Corvex Management LP boosted its holdings in Coca-Cola FEMSA, S.A.B. de C.V. (NYSE:KOF - Free Report) by 138.9% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,066,108 shares of the company's stock after acquiring an additional 619,931 shares during the quarter. Coca-Cola FEMSA accounts for about 2.3% of Corvex Management LP's investment portfolio, making the stock its 13th largest position. Corvex Management LP owned 0.06% of Coca-Cola FEMSA worth $83,039,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of KOF. TD Private Client Wealth LLC increased its holdings in shares of Coca-Cola FEMSA by 5.0% in the 4th quarter. TD Private Client Wealth LLC now owns 3,257 shares of the company's stock worth $254,000 after buying an additional 155 shares during the last quarter. Kathmere Capital Management LLC increased its stake in Coca-Cola FEMSA by 3.0% in the fourth quarter. Kathmere Capital Management LLC now owns 7,003 shares of the company's stock valued at $545,000 after acquiring an additional 206 shares during the last quarter. Avantax Advisory Services Inc. raised its position in Coca-Cola FEMSA by 1.8% during the fourth quarter. Avantax Advisory Services Inc. now owns 11,976 shares of the company's stock valued at $933,000 after purchasing an additional 212 shares in the last quarter. Park Avenue Securities LLC lifted its stake in Coca-Cola FEMSA by 7.1% during the fourth quarter. Park Avenue Securities LLC now owns 3,493 shares of the company's stock worth $272,000 after purchasing an additional 233 shares during the last quarter. Finally, SBI Securities Co. Ltd. bought a new stake in Coca-Cola FEMSA during the fourth quarter worth about $29,000.

Coca-Cola FEMSA Trading Down 0.6 %

KOF stock opened at $93.03 on Tuesday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.14 and a quick ratio of 0.94. Coca-Cola FEMSA, S.A.B. de C.V. has a 1-year low of $72.68 and a 1-year high of $102.28. The business has a 50 day simple moving average of $91.86 and a two-hundred day simple moving average of $84.27. The company has a market capitalization of $156.35 billion, a price-to-earnings ratio of 15.79, a PEG ratio of 0.62 and a beta of 0.63.

Coca-Cola FEMSA (NYSE:KOF - Get Free Report) last posted its quarterly earnings data on Friday, April 25th. The company reported $1.20 EPS for the quarter, topping the consensus estimate of $1.01 by $0.19. Coca-Cola FEMSA had a net margin of 8.12% and a return on equity of 15.99%. The company had revenue of $3.42 billion during the quarter, compared to analyst estimates of $3.44 billion. Research analysts anticipate that Coca-Cola FEMSA, S.A.B. de C.V. will post 5.7 EPS for the current fiscal year.

Coca-Cola FEMSA Increases Dividend

The firm also recently announced a semi-annual dividend, which was paid on Monday, May 5th. Shareholders of record on Tuesday, April 22nd were given a dividend of $0.8839 per share. This is an increase from Coca-Cola FEMSA's previous semi-annual dividend of $0.74. The ex-dividend date was Tuesday, April 22nd. This represents a yield of 3.1%. Coca-Cola FEMSA's dividend payout ratio (DPR) is 13.76%.

Analyst Ratings Changes

KOF has been the subject of several recent research reports. JPMorgan Chase & Co. boosted their price target on shares of Coca-Cola FEMSA from $107.00 to $110.00 and gave the stock an "overweight" rating in a research note on Friday, April 11th. StockNews.com cut Coca-Cola FEMSA from a "strong-buy" rating to a "buy" rating in a report on Thursday, May 1st. UBS Group raised their price objective on shares of Coca-Cola FEMSA from $106.00 to $109.00 and gave the stock a "buy" rating in a report on Monday. Finally, Barclays boosted their target price on shares of Coca-Cola FEMSA from $99.00 to $105.00 and gave the company an "overweight" rating in a report on Tuesday, March 4th. Six analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $106.50.

About Coca-Cola FEMSA

Coca-Cola FEMSA, SAB. de C.V., a franchise bottler, produces, markets, sells, and distributes Coca-Cola trademark beverages in Mexico, Guatemala, Nicaragua, Costa Rica, Panama, Colombia, Brazil, Argentina, and Uruguay. The company offers sparkling beverages, including colas and flavored sparkling beverages; waters; other non-carbonated beverages comprising juice drinks, coffee, teas, milk, value-added dairy products, sports and energy drinks, and plant-based drinks; and alcoholic beverages, such as hard seltzer under the Topo Chico brand name.

Want to see what other hedge funds are holding KOF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Coca-Cola FEMSA, S.A.B. de C.V. (NYSE:KOF - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.