Bank of Nova Scotia bought a new position in Coca Cola Femsa S.A.B. de C.V. (NYSE:KOF - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 47,101 shares of the company's stock, valued at approximately $8,993,000.
Other hedge funds also recently made changes to their positions in the company. Commerce Bank purchased a new position in shares of Coca Cola Femsa in the second quarter valued at $475,000. Northwestern Mutual Wealth Management Co. purchased a new position in shares of Coca Cola Femsa in the 2nd quarter worth $36,000. Evolve Private Wealth LLC bought a new stake in shares of Coca Cola Femsa in the 2nd quarter worth about $3,874,000. EP Wealth Advisors LLC bought a new stake in shares of Coca Cola Femsa in the 2nd quarter worth about $944,000. Finally, Ieq Capital LLC purchased a new stake in shares of Coca Cola Femsa during the 2nd quarter valued at about $6,365,000.
Wall Street Analyst Weigh In
Several research firms have recently weighed in on KOF. Wall Street Zen raised Coca Cola Femsa from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 8th. HSBC restated a "hold" rating and issued a $116.00 price target on shares of Coca Cola Femsa in a research report on Tuesday, July 28th. JPMorgan Chase & Co. boosted their price objective on shares of Coca Cola Femsa from $114.00 to $127.00 and gave the company a "neutral" rating in a research report on Wednesday, July 15th. UBS Group increased their target price on shares of Coca Cola Femsa from $110.00 to $113.00 and gave the company a "neutral" rating in a research note on Monday, August 3rd. Finally, Weiss Ratings upgraded shares of Coca Cola Femsa from a "buy (b-)" rating to a "buy (b)" rating in a report on Friday, May 29th. Four investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, Coca Cola Femsa has an average rating of "Hold" and an average target price of $118.83.
Read Our Latest Analysis on KOF
Coca Cola Femsa Stock Up 2.4%
Shares of NYSE KOF opened at $114.91 on Tuesday. Coca Cola Femsa S.A.B. de C.V. has a 52-week low of $80.22 and a 52-week high of $116.36. The firm has a market capitalization of $193.12 billion, a price-to-earnings ratio of 18.12, a PEG ratio of 1.33 and a beta of 0.52. The stock has a 50 day moving average price of $107.20 and a 200 day moving average price of $105.53. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.87 and a current ratio of 1.04.
Coca Cola Femsa (NYSE:KOF - Get Free Report) last released its quarterly earnings data on Wednesday, July 1st. The company reported $1.69 EPS for the quarter. Coca Cola Femsa had a return on equity of 15.83% and a net margin of 8.05%.The company had revenue of $4.36 billion for the quarter. Sell-side analysts expect that Coca Cola Femsa S.A.B. de C.V. will post 6.93 earnings per share for the current year.
Coca Cola Femsa Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, July 24th. Shareholders of record on Monday, July 13th were issued a dividend of $1.1248 per share. This represents a $4.50 annualized dividend and a yield of 3.9%. The ex-dividend date was Monday, July 13th. This is a positive change from Coca Cola Femsa's previous quarterly dividend of $1.09. Coca Cola Femsa's dividend payout ratio (DPR) is currently 62.15%.
About Coca Cola Femsa
(
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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