Bank of America Corp DE Sells 14,306 Shares of Coca Cola Femsa S.A.B. de C.V. $KOF

Key Points

• Bank of America reduced its Coca-Cola FEMSA stake by 4.1% in the first quarter, selling 14,306 shares and retaining 337,528 shares valued at approximately $32.9 million.
• Coca-Cola FEMSA reported quarterly EPS of $1.69 on $4.36 billion in revenue. The company also raised its quarterly dividend to $1.1248 per share, representing a 4.1% annualized yield.
• KOF shares opened at $108.69, while analysts maintain an overall “Hold” rating with an average price target of $118.83; several institutions increased their positions during the quarter.

Bank of America Corp DE decreased its holdings in Coca Cola Femsa S.A.B. de C.V. (NYSE:KOF - Free Report) by 4.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 337,528 shares of the company's stock after selling 14,306 shares during the period. Bank of America Corp DE's holdings in Coca Cola Femsa were worth $32,926,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in KOF. Opal Capital LLC lifted its holdings in Coca Cola Femsa by 14.0% during the 1st quarter. Opal Capital LLC now owns 32,222 shares of the company's stock valued at $3,143,000 after buying an additional 3,960 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of Coca Cola Femsa by 8.0% in the first quarter. EverSource Wealth Advisors LLC now owns 1,371 shares of the company's stock valued at $134,000 after purchasing an additional 101 shares during the period. Empowered Funds LLC purchased a new stake in shares of Coca Cola Femsa in the first quarter valued at approximately $555,000. Quantinno Capital Management LP grew its stake in Coca Cola Femsa by 30.0% in the first quarter. Quantinno Capital Management LP now owns 25,509 shares of the company's stock worth $2,488,000 after purchasing an additional 5,892 shares in the last quarter. Finally, Compound Planning Inc. grew its stake in Coca Cola Femsa by 15.5% in the first quarter. Compound Planning Inc. now owns 6,467 shares of the company's stock worth $631,000 after purchasing an additional 867 shares in the last quarter.

Coca Cola Femsa Price Performance

Shares of KOF stock opened at $108.69 on Friday. The stock's 50-day moving average is $106.50 and its 200 day moving average is $105.29. Coca Cola Femsa S.A.B. de C.V. has a 1-year low of $80.22 and a 1-year high of $116.36. 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 company has a market cap of $182.66 billion, a P/E ratio of 17.14, a PEG ratio of 1.33 and a beta of 0.52.

Coca Cola Femsa (NYSE:KOF - Get Free Report) last announced its earnings results on Wednesday, July 1st. The company reported $1.69 EPS for the quarter. The business had revenue of $4.36 billion during the quarter. Coca Cola Femsa had a net margin of 8.05% and a return on equity of 15.83%. Research analysts predict 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 disclosed a quarterly dividend, which was paid on Friday, July 24th. Investors of record on Monday, July 13th were paid a dividend of $1.1248 per share. This is a boost from Coca Cola Femsa's previous quarterly dividend of $1.09. The ex-dividend date was Monday, July 13th. This represents a $4.50 annualized dividend and a dividend yield of 4.1%. Coca Cola Femsa's dividend payout ratio (DPR) is presently 61.99%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on KOF shares. Barclays increased their price target on Coca Cola Femsa from $115.00 to $122.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 29th. Wall Street Zen raised shares of Coca Cola Femsa from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 8th. HSBC reaffirmed a "hold" rating and issued a $116.00 price objective on shares of Coca Cola Femsa in a research note on Tuesday, July 28th. 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. Finally, UBS Group boosted their price target on shares of Coca Cola Femsa from $110.00 to $113.00 and gave the company a "neutral" rating in a report on Monday, August 3rd. Four investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $118.83.

About Coca Cola Femsa

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.

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 reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source