ABC Arbitrage SA Buys Shares of 6,223 Coca Cola Femsa S.A.B. de C.V. (NYSE:KOF)

Key Points

• ABC Arbitrage SA acquired 6,223 shares of Coca Cola Femsa S.A.B. de C.V., valuing the purchase at approximately $568,000.
• During the first quarter, multiple hedge funds increased their stakes in Coca Cola Femsa, with Ramirez Asset Management boosting its holdings by 285.9%.
• Coca Cola Femsa reported quarterly earnings of $1.30 EPS, missing analysts' estimates of $1.52, with a net margin of 8.19% and revenue of $3.74 billion.

ABC Arbitrage SA bought a new stake in shares of Coca Cola Femsa S.A.B. de C.V. (NYSE:KOF - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 6,223 shares of the company's stock, valued at approximately $568,000.

Several other large investors have also recently made changes to their positions in KOF. Wayfinding Financial LLC purchased a new position in Coca Cola Femsa in the first quarter worth about $41,000. Banque de Luxembourg S.A. purchased a new position in Coca Cola Femsa in the fourth quarter worth about $43,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Coca Cola Femsa in the fourth quarter worth about $43,000. Parvin Asset Management LLC purchased a new position in Coca Cola Femsa in the fourth quarter worth about $56,000. Finally, NBC Securities Inc. purchased a new position in Coca Cola Femsa in the first quarter worth about $76,000.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on KOF shares. JPMorgan Chase & Co. decreased their target price on shares of Coca Cola Femsa from $111.00 to $107.00 and set a "neutral" rating for the company in a report on Wednesday, July 16th. Barclays set a $100.00 target price on shares of Coca Cola Femsa and gave the stock an "overweight" rating in a report on Thursday, July 31st. UBS Group lifted their price target on shares of Coca Cola Femsa from $109.00 to $113.00 and gave the stock a "buy" rating in a research note on Tuesday, July 8th. Wall Street Zen cut shares of Coca Cola Femsa from a "buy" rating to a "hold" rating in a report on Sunday, July 13th. Finally, Morgan Stanley raised shares of Coca Cola Femsa from an "equal weight" rating to an "overweight" rating in a report on Monday, June 2nd. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $105.50.

Coca Cola Femsa Stock Performance

Shares of KOF traded down $1.03 during mid-day trading on Friday, hitting $84.72. 100,960 shares of the company traded hands, compared to its average volume of 202,972. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.90 and a current ratio of 1.12. The stock has a 50-day moving average price of $91.73 and a two-hundred day moving average price of $90.23. Coca Cola Femsa S.A.B. de C.V. has a 1 year low of $72.68 and a 1 year high of $101.74. The stock has a market cap of $142.38 billion, a price-to-earnings ratio of 14.84, a P/E/G ratio of 1.03 and a beta of 0.62.

Coca Cola Femsa (NYSE:KOF - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The company reported $1.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.52 by ($0.22). Coca Cola Femsa had a net margin of 8.19% and a return on equity of 15.81%. The business had revenue of $3.74 billion for the quarter, compared to the consensus estimate of $3.89 billion. Equities analysts anticipate that Coca Cola Femsa S.A.B. de C.V. will post 5.7 earnings per share for the current year.

Coca Cola Femsa Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, July 28th. Shareholders of record on Tuesday, July 15th were issued a dividend of $0.874 per share. This represents a $3.50 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date of this dividend was Tuesday, July 15th. Coca Cola Femsa's dividend payout ratio is currently 60.42%.

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.