CenterBook Partners LP Lowers Position in Coca Cola Femsa S.A.B. de C.V. (NYSE:KOF)

Key Points

• CenterBook Partners LP has reduced its stock position in Coca Cola Femsa by 24.1%, selling 10,999 shares during the first quarter and now holding 34,597 shares valued at $3,158,000.
• Several institutional investors have increased their holdings in Coca Cola Femsa, notably Russell Investments Group Ltd. which raised its stake by 68.0% in the fourth quarter.
• Coca Cola Femsa's most recent earnings report showed an EPS of $1.30, falling short of analysts' expectations, with revenues of $3.74 billion compared to the consensus estimate of $3.89 billion.

CenterBook Partners LP lessened its position in Coca Cola Femsa S.A.B. de C.V. (NYSE:KOF - Free Report) by 24.1% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,597 shares of the company's stock after selling 10,999 shares during the period. CenterBook Partners LP's holdings in Coca Cola Femsa were worth $3,158,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of KOF. Wayfinding Financial LLC bought a new position in shares of Coca Cola Femsa during the first quarter worth about $41,000. Banque de Luxembourg S.A. bought a new stake in Coca Cola Femsa during the 4th quarter valued at $43,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Coca Cola Femsa in the 4th quarter worth about $43,000. Parvin Asset Management LLC bought a new position in Coca Cola Femsa in the 4th quarter valued at about $56,000. Finally, NBC Securities Inc. bought a new position in Coca Cola Femsa in the 1st quarter valued at about $76,000.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on KOF. Wall Street Zen downgraded Coca Cola Femsa from a "buy" rating to a "hold" rating in a research note on Sunday, July 13th. JPMorgan Chase & Co. lowered their price target on Coca Cola Femsa from $111.00 to $107.00 and set a "neutral" rating for the company in a research report on Wednesday, July 16th. Barclays set a $100.00 price objective on shares of Coca Cola Femsa and gave the stock an "overweight" rating in a report on Thursday, July 31st. UBS Group upped their target price on shares of Coca Cola Femsa from $109.00 to $113.00 and gave the stock a "buy" rating in a research note on Tuesday, July 8th. Finally, Morgan Stanley upgraded shares of Coca Cola Femsa from an "equal weight" rating to an "overweight" rating in a research note on Monday, June 2nd. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $105.50.

Coca Cola Femsa Stock Performance

NYSE KOF traded up $0.11 during trading hours on Monday, reaching $84.76. 34,539 shares of the company were exchanged, compared to its average volume of 219,509. The stock has a market capitalization of $142.45 billion, a P/E ratio of 14.84, a P/E/G ratio of 1.03 and a beta of 0.62. The company has a quick ratio of 0.90, a current ratio of 1.12 and a debt-to-equity ratio of 0.54. Coca Cola Femsa S.A.B. de C.V. has a 1 year low of $72.68 and a 1 year high of $101.74. The business's 50 day simple moving average is $91.73 and its 200-day simple moving average is $90.34.

Coca Cola Femsa (NYSE:KOF - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The company reported $1.30 earnings per share for the quarter, missing the consensus estimate of $1.52 by ($0.22). The firm had revenue of $3.74 billion for the quarter, compared to the consensus estimate of $3.89 billion. Coca Cola Femsa had a return on equity of 15.81% and a net margin of 8.19%. On average, equities research analysts expect that Coca Cola Femsa S.A.B. de C.V. will post 5.7 earnings per share for the current year.

Coca Cola Femsa Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 28th. Stockholders of record on Tuesday, July 15th were given a $0.874 dividend. This represents a $3.50 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date was Tuesday, July 15th. Coca Cola Femsa's dividend payout ratio (DPR) is 60.42%.

About Coca Cola Femsa

Coca-Cola FEMSA, SAB. de C.V., a franchise bottler, produces, markets, sells, and distributes Coca-Cola trademark beverages in Mexico, Guatemala, Nicaragua, Costa Rica, Panama, Colombia, Brazil, Argentina, and Uruguay. The company offers sparkling beverages, including colas and flavored sparkling beverages; waters; other non-carbonated beverages comprising juice drinks, coffee, teas, milk, value-added dairy products, sports and energy drinks, and plant-based drinks; and alcoholic beverages, such as hard seltzer under the Topo Chico brand name.