Connor Clark & Lunn Investment Management Ltd. Has $22.78 Million Stock Position in Coca Cola Femsa S.A.B. de C.V. (NYSE:KOF)

Key Points

• Connor Clark & Lunn Investment Management Ltd. increased its stake in Coca Cola Femsa by 24.4%, holding 249,490 shares valued at approximately $22.78 million.
• The company's latest earnings report revealed an EPS of $1.30, falling short of the expected $1.52, with revenue at $3.74 billion compared to the consensus estimate of $3.89 billion.
• Coca Cola Femsa announced a quarterly dividend of $0.874, with an annual yield of 4.1% and a payout ratio of 60.42%, reflecting solid returns for shareholders.

Connor Clark & Lunn Investment Management Ltd. grew its holdings in Coca Cola Femsa S.A.B. de C.V. (NYSE:KOF - Free Report) by 24.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 249,490 shares of the company's stock after buying an additional 48,924 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.'s holdings in Coca Cola Femsa were worth $22,776,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in KOF. Robeco Institutional Asset Management B.V. boosted its stake in Coca Cola Femsa by 1.6% during the first quarter. Robeco Institutional Asset Management B.V. now owns 1,245,370 shares of the company's stock worth $113,690,000 after buying an additional 19,338 shares during the last quarter. Corvex Management LP lifted its holdings in shares of Coca Cola Femsa by 138.9% in the 4th quarter. Corvex Management LP now owns 1,066,108 shares of the company's stock valued at $83,039,000 after buying an additional 619,931 shares during the period. Natixis Advisors LLC lifted its holdings in shares of Coca Cola Femsa by 11.0% in the 1st quarter. Natixis Advisors LLC now owns 268,479 shares of the company's stock valued at $24,509,000 after buying an additional 26,634 shares during the period. Envestnet Asset Management Inc. raised its holdings in Coca Cola Femsa by 1.4% during the fourth quarter. Envestnet Asset Management Inc. now owns 224,870 shares of the company's stock worth $17,515,000 after purchasing an additional 3,120 shares during the last quarter. Finally, Northern Trust Corp increased its position in 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 in the last quarter.

Analyst Upgrades and Downgrades

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

Coca Cola Femsa Price Performance

Shares of NYSE:KOF traded down $1.89 on Thursday, reaching $83.38. 68,604 shares of the company traded hands, compared to its average volume of 218,855. The company's 50 day moving average is $91.01 and its 200-day moving average is $90.33. The stock has a market capitalization of $140.13 billion, a PE ratio of 14.57, a P/E/G ratio of 1.04 and a beta of 0.62. Coca Cola Femsa S.A.B. de C.V. has a fifty-two week low of $72.68 and a fifty-two week 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.

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

Coca Cola Femsa Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, July 28th. Shareholders of record on Tuesday, July 15th were paid a dividend of $0.874 per share. The ex-dividend date was Tuesday, July 15th. This represents a $3.50 dividend on an annualized basis and a yield of 4.2%. Coca Cola Femsa's dividend payout ratio (DPR) is currently 60.42%.

Coca Cola Femsa Company Profile

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.