ABC Arbitrage SA grew its holdings in shares of Coca Cola Femsa S.A.B. de C.V. (NYSE:KOF - Free Report) by 108.1% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 21,611 shares of the company's stock after buying an additional 11,225 shares during the quarter. ABC Arbitrage SA's holdings in Coca Cola Femsa were worth $2,108,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Caitong International Asset Management Co. Ltd grew its stake in Coca Cola Femsa by 482.5% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 332 shares of the company's stock worth $28,000 after acquiring an additional 275 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in shares of Coca Cola Femsa by 79.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 346 shares of the company's stock valued at $33,000 after acquiring an additional 153 shares in the last quarter. Whipplewood Advisors LLC boosted its holdings in shares of Coca Cola Femsa by 862.2% in the first quarter. Whipplewood Advisors LLC now owns 433 shares of the company's stock valued at $42,000 after purchasing an additional 388 shares during the period. Farther Finance Advisors LLC grew its stake in Coca Cola Femsa by 490.7% in the fourth quarter. Farther Finance Advisors LLC now owns 508 shares of the company's stock worth $48,000 after purchasing an additional 422 shares in the last quarter. Finally, Triumph Capital Management bought a new position in Coca Cola Femsa in the third quarter worth approximately $49,000.
Wall Street Analyst Weigh In
KOF has been the topic of several research reports. Barclays raised their price target on Coca Cola Femsa from $112.00 to $115.00 and gave the company an "equal weight" rating in a research note on Monday, May 4th. Weiss Ratings raised shares of Coca Cola Femsa from a "buy (b-)" rating to a "buy (b)" rating in a research note on Friday, May 29th. Finally, JPMorgan Chase & Co. increased their target price on shares of Coca Cola Femsa from $110.00 to $114.00 and gave the stock a "neutral" rating in a report on Tuesday, May 26th. Four research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat, Coca Cola Femsa has a consensus rating of "Moderate Buy" and a consensus price target of $115.00.
Check Out Our Latest Analysis on KOF
Coca Cola Femsa Stock Performance
Shares of KOF stock opened at $103.56 on Tuesday. 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. The business's fifty day simple moving average is $106.49 and its 200-day simple moving average is $103.85. The company has a current ratio of 1.10, a quick ratio of 0.91 and a debt-to-equity ratio of 0.56. The company has a market cap of $174.04 billion, a PE ratio of 17.43, a PEG ratio of 1.26 and a beta of 0.53.
Coca Cola Femsa (NYSE:KOF - Get Free Report) last announced its earnings results on Tuesday, March 31st. The company reported $1.16 earnings per share (EPS) for the quarter. Coca Cola Femsa had a return on equity of 15.40% and a net margin of 7.84%. Analysts expect that Coca Cola Femsa S.A.B. de C.V. will post 6.8 earnings per share for the current fiscal year.
Coca Cola Femsa Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, July 24th. Investors of record on Monday, July 13th will be paid a $1.1248 dividend. This is a positive change from Coca Cola Femsa's previous quarterly dividend of $1.09. The ex-dividend date is Monday, July 13th. This represents a $4.50 dividend on an annualized basis and a yield of 4.3%. Coca Cola Femsa's dividend payout ratio (DPR) is 66.67%.
Coca Cola Femsa Company Profile
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Free Report)
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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