Federated Hermes Inc. Trims Holdings 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. lowered its stake 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 Form 13F filing with the Securities and Exchange Commission. The fund 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 quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Wayfinding Financial LLC purchased a new position in shares of Coca Cola Femsa during the first quarter worth $41,000. Banque de Luxembourg S.A. purchased a new position in Coca Cola Femsa in the fourth quarter valued at $43,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Coca Cola Femsa in the fourth quarter valued at $43,000. Parvin Asset Management LLC purchased a new position in Coca Cola Femsa in the fourth quarter valued at $56,000. Finally, NBC Securities Inc. purchased a new position in Coca Cola Femsa in the first quarter valued at $76,000.

Coca Cola Femsa Price Performance

KOF traded down $0.30 on Monday, reaching $83.13. 128,334 shares of the company's stock were exchanged, compared to its average volume of 223,573. The stock has a market cap of $139.72 billion, a PE ratio of 14.56, a P/E/G ratio of 0.78 and a beta of 0.62. Coca Cola Femsa S.A.B. de C.V. has a twelve month low of $72.68 and a twelve month high of $101.74. The stock's fifty day moving average price is $92.90 and its 200-day moving average price is $90.04. 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 posted its earnings results on Wednesday, July 23rd. The company reported $1.30 earnings per share for the quarter, missing the consensus estimate of $1.52 by ($0.22). The firm 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%. Sell-side analysts expect 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 announced a quarterly dividend, which was paid on Monday, July 28th. Shareholders of record on Tuesday, July 15th were issued a $0.874 dividend. This represents a $3.50 annualized dividend and a yield of 4.2%. The ex-dividend date was Tuesday, July 15th. Coca Cola Femsa's payout ratio is presently 60.42%.

Analysts Set New Price Targets

KOF has been the subject of a number of recent analyst reports. UBS Group lifted their price objective on shares of Coca Cola Femsa from $109.00 to $113.00 and gave the company a "buy" rating in a report on Tuesday, July 8th. 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. JPMorgan Chase & Co. dropped their target price on shares of Coca Cola Femsa from $111.00 to $107.00 and set a "neutral" rating on the stock in a research report on Wednesday, July 16th. Wall Street Zen lowered shares of Coca Cola Femsa from a "buy" rating to a "hold" rating in a research report on Sunday, July 13th. Finally, Morgan Stanley upgraded shares of Coca Cola Femsa from an "equal weight" rating to an "overweight" rating in a research report on Monday, June 2nd. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, Coca Cola Femsa currently has a consensus rating of "Moderate Buy" and a consensus target price of $105.50.

About Coca Cola Femsa

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.