Balefire LLC Sells 16,160 Shares of Coca Cola Femsa S.A.B. de C.V. $KOF

Key Points

• Balefire LLC cut its Coca-Cola FEMSA position by 72.6% in the second quarter, selling 16,160 shares and retaining 6,111 shares valued at approximately $649,000.
• Institutional sentiment was mixed, with Bank of America, Deutsche Bank, Invesco, and Raymond James increasing their holdings. Analysts maintain an average “Hold” rating with an average price target of $118.83.
• Coca-Cola FEMSA shares opened at $109.26, while the company raised its quarterly dividend to $1.1248 per share, equivalent to an annualized $4.50 payout and a 4.1% yield.

Balefire LLC decreased its position in shares of Coca Cola Femsa S.A.B. de C.V. (NYSE:KOF - Free Report) by 72.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,111 shares of the company's stock after selling 16,160 shares during the quarter. Balefire LLC's holdings in Coca Cola Femsa were worth $649,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of KOF. Bank of America Corp DE boosted its position in shares of Coca Cola Femsa by 87.4% during the second quarter. Bank of America Corp DE now owns 589,519 shares of the company's stock worth $57,024,000 after purchasing an additional 274,894 shares in the last quarter. Deutsche Bank AG lifted its holdings in Coca Cola Femsa by 8,190.2% during the fourth quarter. Deutsche Bank AG now owns 117,389 shares of the company's stock worth $11,118,000 after acquiring an additional 115,973 shares in the last quarter. Invesco Ltd. grew its stake in Coca Cola Femsa by 34.6% in the third quarter. Invesco Ltd. now owns 301,266 shares of the company's stock valued at $25,035,000 after acquiring an additional 77,475 shares during the period. Jump Financial LLC acquired a new stake in shares of Coca Cola Femsa during the third quarter worth about $3,712,000. Finally, Raymond James Financial Inc. lifted its holdings in shares of Coca Cola Femsa by 163.7% during the 2nd quarter. Raymond James Financial Inc. now owns 70,936 shares of the company's stock valued at $6,862,000 after purchasing an additional 44,039 shares in the last quarter.

Analyst Upgrades and Downgrades

Several analysts have commented on KOF shares. UBS Group raised their target price on shares of Coca Cola Femsa from $110.00 to $113.00 and gave the stock a "neutral" rating in a report on Monday. Weiss Ratings raised shares of Coca Cola Femsa from a "buy (b-)" rating to a "buy (b)" rating in a research report on Friday, May 29th. Barclays raised their price objective on shares of Coca Cola Femsa from $115.00 to $122.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 29th. JPMorgan Chase & Co. increased their target price on Coca Cola Femsa from $114.00 to $127.00 and gave the stock a "neutral" rating in a report on Wednesday, July 15th. Finally, HSBC restated a "hold" rating and issued a $116.00 price target on shares of Coca Cola Femsa in a report on Tuesday, July 28th. Four research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, Coca Cola Femsa currently has an average rating of "Hold" and an average target price of $118.83.

Coca Cola Femsa Trading Up 0.9%

Coca Cola Femsa stock opened at $109.26 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.04 and a quick ratio of 0.87. The firm has a 50-day moving average of $106.26 and a 200-day moving average of $105.01. The company has a market cap of $183.63 billion, a price-to-earnings ratio of 17.23, a P/E/G ratio of 1.32 and a beta of 0.52. Coca Cola Femsa S.A.B. de C.V. has a one year low of $80.22 and a one year high of $116.36.

Coca Cola Femsa (NYSE:KOF - Get Free Report) last released its earnings results on Wednesday, July 1st. The company reported $1.69 earnings per share (EPS) for the quarter. The business had revenue of $4.36 billion for the quarter. Coca Cola Femsa had a return on equity of 15.83% and a net margin of 8.05%. On average, equities analysts expect that Coca Cola Femsa S.A.B. de C.V. will post 6.75 earnings per share for the current fiscal year.

Coca Cola Femsa Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 24th. Shareholders of record on Monday, July 13th were given a dividend of $1.1248 per share. This represents a $4.50 annualized dividend and a yield of 4.1%. This is an increase 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 payout ratio is currently 61.99%.

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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