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Phoenix Financial Ltd. Lowers Stock Position in Coca Cola Femsa S.A.B. de C.V. (NYSE:KOF)

Coca Cola Femsa logo with Consumer Staples background

Key Points

  • Phoenix Financial Ltd. has reduced its stake in Coca Cola Femsa by 28.8%, selling 55,865 shares and now holding 138,396 shares worth approximately $12.6 million.
  • Coca Cola Femsa recently reported a missed earnings estimate for the quarter, with earnings per share at $1.30, below the consensus estimate of $1.52, and revenue of $3.74 billion compared to expectations of $3.89 billion.
  • The company announced a quarterly dividend of $0.874 per share, resulting in an annualized dividend yield of 4.03% and a payout ratio of 57.89%.
  • Looking to Export and Analyze Coca Cola Femsa Data? Unlock 5 Weeks of MarketBeat All Access for Just $5. Claim Your Limited-Time Discount.

Phoenix Financial Ltd. decreased its holdings in shares of Coca Cola Femsa S.A.B. de C.V. (NYSE:KOF - Free Report) by 28.8% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 138,396 shares of the company's stock after selling 55,865 shares during the period. Phoenix Financial Ltd.'s holdings in Coca Cola Femsa were worth $12,634,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in KOF. Corvex Management LP boosted its stake in shares of Coca Cola Femsa by 138.9% during the fourth quarter. Corvex Management LP now owns 1,066,108 shares of the company's stock worth $83,039,000 after buying an additional 619,931 shares during the period. Northern Trust Corp boosted its stake in shares of Coca Cola Femsa by 113.8% during the fourth quarter. Northern Trust Corp now owns 166,994 shares of the company's stock worth $13,007,000 after buying an additional 88,873 shares during the period. BLI Banque de Luxembourg Investments acquired a new stake in shares of Coca Cola Femsa during the fourth quarter worth about $6,533,000. Victory Capital Management Inc. acquired a new stake in Coca Cola Femsa in the first quarter valued at about $7,612,000. Finally, Capital World Investors acquired a new stake in Coca Cola Femsa in the fourth quarter valued at about $4,702,000.

Analyst Ratings Changes

A number of brokerages recently commented on KOF. UBS Group raised their price objective on shares of Coca Cola Femsa from $109.00 to $113.00 and gave the company a "buy" rating in a research report on Tuesday, July 8th. JPMorgan Chase & Co. reduced their price objective on shares of 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. Morgan Stanley upgraded shares of Coca Cola Femsa from an "equal weight" rating to an "overweight" rating in a research report on Monday, June 2nd. Finally, Wall Street Zen downgraded shares of Coca Cola Femsa from a "buy" rating to a "hold" rating in a research report on Sunday, July 13th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Coca Cola Femsa currently has a consensus rating of "Moderate Buy" and a consensus target price of $106.75.

View Our Latest Research Report on KOF

Coca Cola Femsa Price Performance

Shares of KOF stock traded down $0.40 during midday trading on Tuesday, reaching $82.86. 128,676 shares of the company traded hands, compared to its average volume of 222,468. The firm's 50 day simple moving average is $93.78 and its two-hundred day simple moving average is $89.85. 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 company has a debt-to-equity ratio of 0.54, a current ratio of 1.12 and a quick ratio of 0.90. The firm has a market cap of $139.26 billion, a PE ratio of 14.53, a price-to-earnings-growth ratio of 0.80 and a beta of 0.60.

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 (EPS) for the quarter, missing analysts' consensus estimates of $1.52 by ($0.22). Coca Cola Femsa had a net margin of 8.19% and a return on equity of 15.81%. The company had revenue of $3.74 billion for the quarter, compared to analyst estimates of $3.89 billion. On average, equities research analysts expect that Coca Cola Femsa S.A.B. de C.V. will post 5.7 EPS for the current fiscal year.

Coca Cola Femsa Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, July 28th. Stockholders of record on Tuesday, July 15th were given a dividend of $0.874 per share. The ex-dividend date of this dividend was Tuesday, July 15th. This represents a $3.50 dividend on an annualized basis and a dividend yield of 4.22%. Coca Cola Femsa's payout ratio is 60.42%.

Coca Cola Femsa Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Coca Cola Femsa (NYSE:KOF)

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