Coca Cola Femsa S.A.B. de C.V. $KOF Shares Sold by Corvex Management LP

Key Points

• Corvex Management LP has reduced its shares in Coca Cola Femsa by 6.3%, now holding approximately 998,713 shares, which make up about 3.5% of its total investments.
• Coca Cola Femsa reported Q2 earnings of $1.30 per share, missing analysts' expectations of $1.52, with revenues reaching $3.74 billion against a forecast of $3.89 billion.
• The stock is currently rated as a "Moderate Buy" by analysts, with an average price target of $105.50 despite a recent downgrade from Zacks Research.

Corvex Management LP lessened its stake in Coca Cola Femsa S.A.B. de C.V. (NYSE:KOF - Free Report) by 6.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 998,713 shares of the company's stock after selling 67,395 shares during the period. Coca Cola Femsa accounts for about 3.5% of Corvex Management LP's portfolio, making the stock its 11th largest position. Corvex Management LP owned 0.06% of Coca Cola Femsa worth $91,173,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently added to or reduced their stakes in the stock. Robeco Institutional Asset Management B.V. increased its stake in Coca Cola Femsa by 1.6% in the 1st 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 period. Itau Unibanco Holding S.A. purchased a new position in Coca Cola Femsa in the 1st quarter worth about $88,634,000. Natixis Advisors LLC increased its stake in Coca Cola Femsa by 11.0% in the 1st quarter. Natixis Advisors LLC now owns 268,479 shares of the company's stock worth $24,509,000 after buying an additional 26,634 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its stake in Coca Cola Femsa by 24.4% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 249,490 shares of the company's stock worth $22,776,000 after buying an additional 48,924 shares during the period. Finally, Northern Trust Corp increased its position in Coca Cola Femsa by 113.8% during the 4th quarter. Northern Trust Corp now owns 166,994 shares of the company's stock valued at $13,007,000 after purchasing an additional 88,873 shares during the period.

Coca Cola Femsa Stock Down 0.0%

Shares of Coca Cola Femsa stock traded down $0.02 on Friday, reaching $83.44. The stock had a trading volume of 443,559 shares, compared to its average volume of 191,827. The company has a 50 day moving average price of $87.24 and a 200 day moving average price of $90.90. 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 stock has a market capitalization of $140.24 billion, a P/E ratio of 14.61, a P/E/G ratio of 1.02 and a beta of 0.64.

Coca Cola Femsa (NYSE:KOF - Get Free Report) last issued its quarterly earnings data 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 return on equity of 15.81% and a net margin of 8.19%.The firm had revenue of $3.74 billion during the quarter, compared to analysts' expectations of $3.89 billion. As a group, equities research analysts forecast that Coca Cola Femsa S.A.B. de C.V. will post 5.7 EPS for the current year.

Coca Cola Femsa Dividend Announcement

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. 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 4.2%. Coca Cola Femsa's payout ratio is presently 60.42%.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Morgan Stanley raised shares of Coca Cola Femsa from an "equal weight" rating to an "overweight" rating in a research report on Monday, June 2nd. Barclays set a $100.00 target price on shares of Coca Cola Femsa and gave the company an "overweight" rating in a research report on Thursday, July 31st. UBS Group raised 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 report on Tuesday, July 8th. Zacks Research downgraded shares of Coca Cola Femsa from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 26th. 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. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $105.50.

Coca Cola Femsa 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.