Connor Clark & Lunn Investment Management Ltd. Purchases 48,924 Shares of 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. boosted its position in shares of Coca Cola Femsa S.A.B. de C.V. (NYSE:KOF - Free Report) by 24.4% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm 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 filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of KOF. Wayfinding Financial LLC purchased a new position in Coca Cola Femsa during the first quarter worth $41,000. Banque de Luxembourg S.A. purchased a new position in Coca Cola Femsa during the fourth quarter worth $43,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Coca Cola Femsa during the fourth quarter worth $43,000. Parvin Asset Management LLC purchased a new position in Coca Cola Femsa during the fourth quarter worth $56,000. Finally, NBC Securities Inc. purchased a new position in Coca Cola Femsa during the first quarter worth $76,000.

Analyst Ratings Changes

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

Coca Cola Femsa Stock Down 0.1%

NYSE:KOF traded down $0.12 during mid-day trading on Tuesday, reaching $85.24. The company's stock had a trading volume of 205,780 shares, compared to its average volume of 194,849. 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 stock has a fifty day moving average of $91.23 and a 200-day moving average of $90.36. The firm has a market capitalization of $143.27 billion, a PE ratio of 14.93, a price-to-earnings-growth ratio of 1.04 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 (NYSE:KOF - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The company reported $1.30 earnings per share for the quarter, missing analysts' consensus estimates of $1.52 by ($0.22). The business had revenue of $3.74 billion during the quarter, compared to analysts' expectations of $3.89 billion. Coca Cola Femsa had a return on equity of 15.81% and a net margin of 8.19%. Equities research analysts forecast that Coca Cola Femsa S.A.B. de C.V. will post 5.7 earnings per share for the current year.

Coca Cola Femsa Dividend Announcement

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