Crossmark Global Holdings Inc. Sells 10,836 Shares of Coca Cola Femsa S.A.B. de C.V. $KOF

Key Points

• Crossmark Global Holdings reduced its Coca-Cola FEMSA stake by 7.4% in the third quarter, selling 10,836 shares and retaining 136,269 shares valued at approximately $14.7 million.
• Analysts remain generally neutral on KOF, with a consensus “Hold” rating and an average price target of $120.83, while individual targets range from $113 to $127.
• Coca-Cola FEMSA declared a quarterly dividend of $1.0838, down from $1.1248 previously, representing an annualized dividend of $4.34 and a yield of roughly 3.7%.

Crossmark Global Holdings Inc. lessened its stake in Coca Cola Femsa S.A.B. de C.V. (NYSE:KOF - Free Report) by 7.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 136,269 shares of the company's stock after selling 10,836 shares during the period. Crossmark Global Holdings Inc.'s holdings in Coca Cola Femsa were worth $14,723,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in KOF. Robeco Institutional Asset Management B.V. increased its holdings in shares of Coca Cola Femsa by 7.6% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 512,996 shares of the company's stock worth $55,424,000 after buying an additional 36,098 shares during the last quarter. Fort Washington Investment Advisors Inc. OH raised its position in shares of Coca Cola Femsa by 0.4% during the 1st quarter. Fort Washington Investment Advisors Inc. OH now owns 496,822 shares of the company's stock valued at $48,465,000 after buying an additional 1,915 shares in the last quarter. Stack Financial Management Inc bought a new stake in shares of Coca Cola Femsa during the 2nd quarter worth $26,079,000. Bryn Mawr Trust Advisors LLC bought a new stake in shares of Coca Cola Femsa during the 2nd quarter worth $12,512,000. Finally, Everett Harris & Co. CA bought a new stake in shares of Coca Cola Femsa during the 2nd quarter worth $7,619,000.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on KOF shares. HSBC reiterated a "hold" rating and issued a $116.00 target price (down from $120.00) on shares of Coca Cola Femsa in a research report on Tuesday, July 28th. JPMorgan Chase & Co. raised their price target on Coca Cola Femsa from $114.00 to $127.00 and gave the company a "neutral" rating in a research report on Wednesday, July 15th. Weiss Ratings raised Coca Cola Femsa from a "buy (b)" rating to a "buy (b+)" rating in a research note on Thursday, October 8th. UBS Group lifted their price target on Coca Cola Femsa from $110.00 to $113.00 and gave the stock a "neutral" rating in a research note on Monday, August 3rd. Finally, Wall Street Zen cut Coca Cola Femsa from a "strong-buy" rating to a "buy" rating in a report on Saturday, September 12th. Four analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $120.83.

Coca Cola Femsa Trading Down 0.4%

NYSE KOF opened at $117.84 on Thursday. The firm has a market cap of $198.05 billion, a PE ratio of 18.59, a price-to-earnings-growth ratio of 1.61 and a beta of 0.52. Coca Cola Femsa S.A.B. de C.V. has a 1-year low of $84.00 and a 1-year high of $122.14. The stock has a 50-day moving average of $111.69 and a 200-day moving average of $107.69. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.48.

Coca Cola Femsa (NYSE:KOF - Get Free Report) last posted its quarterly earnings results on Wednesday, July 1st. The company reported $1.69 earnings per share (EPS) for the quarter. Coca Cola Femsa had a return on equity of 15.83% and a net margin of 8.05%. The business had revenue of $4.36 billion for the quarter. As a group, sell-side analysts forecast that Coca Cola Femsa S.A.B. de C.V. will post 6.98 EPS for the current year.

Coca Cola Femsa Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 23rd. Shareholders of record on Friday, October 9th will be given a $1.0838 dividend. The ex-dividend date is Friday, October 9th. This is a decrease from Coca Cola Femsa's previous quarterly dividend of $1.1248. This represents a $4.34 annualized dividend and a yield of 3.7%. Coca Cola Femsa's dividend payout ratio is presently 59.15%.

Coca Cola Femsa Profile

Coca-Cola FEMSA, SAB. de C.V. is the world's largest Coca-Cola franchise bottler by sales volume. The company produces, markets, sells and distributes beverages under The Coca-Cola Company's brands, including Coca-Cola, Sprite, Fanta and Powerade, as well as bottled water, juices, dairy products, sports drinks, energy drinks and other beverage products.

The company serves consumers through a broad distribution network that includes traditional retail stores, supermarkets, convenience stores, restaurants, food-service businesses and other commercial channels.

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