Bank of New York Mellon Corp Purchases Shares of 34,083,819 Coca Cola Femsa S.A.B. de C.V. $KOF

Bank of New York Mellon Corp acquired a new position in shares of Coca Cola Femsa S.A.B. de C.V. (NYSE:KOF - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 34,083,819 shares of the company's stock, valued at approximately $2,769,992,000. Bank of New York Mellon Corp owned 2.03% of Coca Cola Femsa at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd lifted its stake in shares of Coca Cola Femsa by 482.5% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 332 shares of the company's stock worth $28,000 after buying an additional 275 shares during the last quarter. Smartleaf Asset Management LLC boosted its holdings in shares of Coca Cola Femsa by 79.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 346 shares of the company's stock worth $33,000 after buying an additional 153 shares during the period. State of Wyoming acquired a new position in Coca Cola Femsa in the 2nd quarter valued at about $80,000. Whipplewood Advisors LLC grew its stake in Coca Cola Femsa by 862.2% in the 1st quarter. Whipplewood Advisors LLC now owns 433 shares of the company's stock valued at $42,000 after buying an additional 388 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its holdings in shares of Coca Cola Femsa by 490.7% during the fourth quarter. Farther Finance Advisors LLC now owns 508 shares of the company's stock worth $48,000 after acquiring an additional 422 shares during the period.

Coca Cola Femsa Trading Up 3.3%

Shares of KOF stock opened at $113.23 on Thursday. The stock has a market cap of $190.30 billion, a P/E ratio of 17.86, a price-to-earnings-growth ratio of 1.30 and a beta of 0.52. 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 current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.48. The stock has a 50 day simple moving average of $106.86 and a 200 day simple moving average of $105.37.

Coca Cola Femsa (NYSE:KOF - Get Free Report) last posted its quarterly earnings data on Wednesday, July 1st. The company reported $1.69 EPS for the quarter. The firm 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, research analysts predict that Coca Cola Femsa S.A.B. de C.V. will post 6.93 earnings per share for the current fiscal year.

Coca Cola Femsa Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 24th. Investors of record on Monday, July 13th were given a $1.1248 dividend. The ex-dividend date was Monday, July 13th. This is an increase from Coca Cola Femsa's previous quarterly dividend of $1.09. This represents a $4.50 dividend on an annualized basis and a dividend yield of 4.0%. Coca Cola Femsa's dividend payout ratio (DPR) is 62.15%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on KOF shares. Barclays lifted their price target on Coca Cola Femsa from $115.00 to $122.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 29th. HSBC reaffirmed a "hold" rating and issued a $116.00 price objective on shares of Coca Cola Femsa in a report on Tuesday, July 28th. UBS Group increased their price objective on Coca Cola Femsa from $110.00 to $113.00 and gave the stock a "neutral" rating in a research report on Monday, August 3rd. JPMorgan Chase & Co. lifted 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, Wall Street Zen raised shares of Coca Cola Femsa from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 8th. Four analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus 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.

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