ABC Arbitrage SA Buys New Position in 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 purchased a new position in Coca Cola Femsa S.A.B. de C.V. (NYSE:KOF - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 6,223 shares of the company's stock, valued at approximately $568,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Robeco Institutional Asset Management B.V. grew its stake in Coca Cola Femsa by 1.6% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 1,245,370 shares of the company's stock worth $113,690,000 after acquiring an additional 19,338 shares during the period. Corvex Management LP boosted its holdings in shares of Coca Cola Femsa by 138.9% during the fourth quarter. Corvex Management LP now owns 1,066,108 shares of the company's stock worth $83,039,000 after purchasing an additional 619,931 shares during the last quarter. Natixis Advisors LLC grew its position in shares of Coca Cola Femsa by 11.0% in the first quarter. Natixis Advisors LLC now owns 268,479 shares of the company's stock valued at $24,509,000 after purchasing an additional 26,634 shares during the period. Envestnet Asset Management Inc. increased its stake in Coca Cola Femsa by 1.4% in the fourth quarter. Envestnet Asset Management Inc. now owns 224,870 shares of the company's stock valued at $17,515,000 after purchasing an additional 3,120 shares during the last quarter. Finally, Northern Trust Corp increased its stake in Coca Cola Femsa by 113.8% in the fourth quarter. Northern Trust Corp now owns 166,994 shares of the company's stock valued at $13,007,000 after purchasing an additional 88,873 shares during the last quarter.

Coca Cola Femsa Trading Up 2.1%

KOF traded up $1.77 on Thursday, reaching $85.54. 147,156 shares of the company's stock were exchanged, compared to its average volume of 215,281. Coca Cola Femsa S.A.B. de C.V. has a twelve month low of $72.68 and a twelve month high of $101.74. The company's 50 day moving average is $91.93 and its 200-day moving average is $90.06. 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 company has a market cap of $143.76 billion, a price-to-earnings ratio of 14.98, a PEG ratio of 1.02 and a beta of 0.62.

Coca Cola Femsa (NYSE:KOF - Get Free Report) last released its quarterly earnings data 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 return on equity of 15.81% and a net margin of 8.19%. The business had revenue of $3.74 billion for the quarter, compared to analysts' expectations of $3.89 billion. Equities analysts predict 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 business also recently declared a quarterly dividend, which was paid on Monday, July 28th. Investors of record on Tuesday, July 15th were issued a $0.874 dividend. This represents a $3.50 annualized dividend and a yield of 4.1%. The ex-dividend date was Tuesday, July 15th. Coca Cola Femsa's dividend payout ratio is currently 60.42%.

Wall Street Analyst Weigh In

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

Coca Cola Femsa Profile

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.