Federated Hermes Inc. Cuts Position in Coca Cola Femsa S.A.B. de C.V. (NYSE:KOF)

Key Points

• Federated Hermes Inc. reduced its holdings in Coca Cola Femsa S.A.B. de C.V. by 8.8%, selling 14,951 shares, leaving them with 155,446 shares valued at approximately $14.19 million.
• Several hedge funds have increased their positions in Coca Cola Femsa, with Ramirez Asset Management Inc. boosting its stake by 285.9% during the same period.
• Analysts have mixed views on Coca Cola Femsa, with target prices ranging from $100.00 to $113.00 and the overall consensus rating being a "Moderate Buy."

Federated Hermes Inc. decreased its holdings in Coca Cola Femsa S.A.B. de C.V. (NYSE:KOF - Free Report) by 8.8% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 155,446 shares of the company's stock after selling 14,951 shares during the period. Federated Hermes Inc.'s holdings in Coca Cola Femsa were worth $14,191,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in KOF. Wayfinding Financial LLC bought a new position in shares of Coca Cola Femsa in the first quarter worth about $41,000. Banque de Luxembourg S.A. purchased a new position in shares of Coca Cola Femsa in the 4th quarter worth approximately $43,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Coca Cola Femsa in the 4th quarter worth approximately $43,000. Parvin Asset Management LLC purchased a new position in shares of Coca Cola Femsa in the 4th quarter worth approximately $56,000. Finally, NBC Securities Inc. purchased a new position in shares of Coca Cola Femsa in the 1st quarter worth approximately $76,000.

Analysts Set New Price Targets

KOF has been the subject of a number of recent research reports. JPMorgan Chase & Co. dropped their target price on Coca Cola Femsa from $111.00 to $107.00 and set a "neutral" rating for the company in a report on Wednesday, July 16th. UBS Group raised their price target 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. Morgan Stanley raised Coca Cola Femsa from an "equal weight" rating to an "overweight" rating in a research note on Monday, June 2nd. Barclays set a $100.00 price target on Coca Cola Femsa and gave the stock an "overweight" rating in a research note on Thursday, July 31st. Finally, Wall Street Zen lowered Coca Cola Femsa from a "buy" rating to a "hold" rating in a research note on Sunday, July 13th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, Coca Cola Femsa has a consensus rating of "Moderate Buy" and an average price target of $105.50.

Coca Cola Femsa Stock Up 1.8%

NYSE KOF traded up $1.45 on Wednesday, reaching $84.35. 114,383 shares of the stock traded hands, compared to its average volume of 221,532. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.90 and a current ratio of 1.12. The company has a fifty day moving average price of $92.40 and a 200-day moving average price of $90.04. The company has a market cap of $141.77 billion, a price-to-earnings ratio of 14.79, a PEG ratio of 0.78 and a beta of 0.62. Coca Cola Femsa S.A.B. de C.V. has a 12 month low of $72.68 and a 12 month high of $101.74.

Coca Cola Femsa (NYSE:KOF - Get Free Report) last issued its earnings results 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 firm had revenue of $3.74 billion for the quarter, compared to the consensus estimate 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, research analysts forecast that Coca Cola Femsa S.A.B. de C.V. will post 5.7 EPS for the current fiscal year.

Coca Cola Femsa Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, July 28th. Stockholders 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 dividend yield of 4.1%. 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.