BlackRock Inc. Acquires Shares of 5,328,834 Coca Cola Femsa S.A.B. de C.V. $KOF

Key Points

• BlackRock acquired 5,328,834 Coca-Cola FEMSA shares in the second quarter, worth approximately $1.02 billion, giving it a 0.32% stake in the company.
• Analysts remain broadly neutral, with four Buy ratings and five Hold ratings; the stock has an average price target of $118.83.
• Coca-Cola FEMSA increased its quarterly dividend to $1.1248 per share, equating to an annualized dividend of $4.50 and a 4.0% yield.

BlackRock Inc. bought a new position in shares of Coca Cola Femsa S.A.B. de C.V. (NYSE:KOF - Free Report) during the second quarter, according to its most recent filing with the SEC. The fund bought 5,328,834 shares of the company's stock, valued at approximately $1,017,381,000. BlackRock Inc. owned 0.32% of Coca Cola Femsa at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd boosted its stake in Coca Cola Femsa by 482.5% in the third quarter. Caitong International Asset Management Co. Ltd now owns 332 shares of the company's stock valued at $28,000 after acquiring an additional 275 shares during the last quarter. Smartleaf Asset Management LLC lifted its stake in Coca Cola Femsa by 79.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 346 shares of the company's stock valued at $33,000 after purchasing an additional 153 shares during the last quarter. Whipplewood Advisors LLC lifted its stake in 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 last quarter. Global Retirement Partners LLC bought a new position in Coca Cola Femsa during the second quarter valued at $46,000. Finally, Farther Finance Advisors LLC grew its holdings in Coca Cola Femsa by 490.7% during the fourth quarter. Farther Finance Advisors LLC now owns 508 shares of the company's stock valued at $48,000 after purchasing an additional 422 shares during the period.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Weiss Ratings raised Coca Cola Femsa from a "buy (b-)" rating to a "buy (b)" rating in a report on Friday, May 29th. UBS Group upped their price objective 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. HSBC reiterated a "hold" rating and issued a $116.00 target price on shares of Coca Cola Femsa in a research note on Tuesday, July 28th. JPMorgan Chase & Co. boosted their price target 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. Finally, Barclays upped their price target on shares of Coca Cola Femsa from $115.00 to $122.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 29th. Four research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $118.83.

Coca Cola Femsa Trading Down 1.0%

KOF opened at $112.15 on Friday. The stock has a market cap of $188.49 billion, a PE ratio of 17.69, a PEG ratio of 1.34 and a beta of 0.52. The business has a 50 day moving average of $107.05 and a 200-day moving average of $105.48. 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 company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.48.

Coca Cola Femsa (NYSE:KOF - Get Free Report) last posted its quarterly earnings data on Wednesday, July 1st. The company reported $1.69 earnings per share (EPS) for the quarter. Coca Cola Femsa had a return on equity of 15.83% and a net margin of 8.05%.The business had revenue of $4.36 billion during the quarter. Equities 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 firm also recently declared a quarterly dividend, which was paid on Friday, July 24th. Investors of record on Monday, July 13th were given a dividend of $1.1248 per share. 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. This represents a $4.50 dividend on an annualized basis and a yield of 4.0%. Coca Cola Femsa's dividend payout ratio is 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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