Itau Unibanco Holding S.A. Acquires New Stake in Coca Cola Femsa S.A.B. de C.V. $KOF

Key Points

• Itau Unibanco Holding S.A. has acquired a new stake of 1,004,136 shares in Coca Cola Femsa, valued at approximately $88.6 million, marking the stock as its 9th largest holding.
• Coca Cola Femsa reported a quarterly earnings per share (EPS) of $1.30, missing the consensus estimate of $1.52, while also announcing a quarterly dividend of $0.874, representing a 4.0% yield.
• Recent ratings changes from analysts include a downgrade to a "hold" rating from Wall Street Zen and a price target adjustment from JPMorgan Chase, reflecting varied investor sentiments towards the stock.

Itau Unibanco Holding S.A. purchased a new stake in shares of Coca Cola Femsa S.A.B. de C.V. (NYSE:KOF - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 1,004,136 shares of the company's stock, valued at approximately $88,634,000. Coca Cola Femsa makes up 3.3% of Itau Unibanco Holding S.A.'s investment portfolio, making the stock its 9th largest position. Itau Unibanco Holding S.A. owned approximately 0.06% of Coca Cola Femsa at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Raymond James Financial Inc. purchased a new position in shares of Coca Cola Femsa in the fourth quarter worth about $2,570,000. Barclays PLC increased its holdings in shares of Coca Cola Femsa by 170.1% in the fourth quarter. Barclays PLC now owns 1,745 shares of the company's stock worth $136,000 after buying an additional 1,099 shares during the period. Hsbc Holdings PLC purchased a new position in shares of Coca Cola Femsa in the fourth quarter worth about $201,000. Price T Rowe Associates Inc. MD increased its holdings in shares of Coca Cola Femsa by 10.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 87,800 shares of the company's stock worth $6,839,000 after buying an additional 8,500 shares during the period. Finally, Northern Trust Corp increased its holdings in shares of Coca Cola Femsa by 113.8% in the fourth quarter. Northern Trust Corp now owns 166,994 shares of the company's stock worth $13,007,000 after buying an additional 88,873 shares during the period.

Coca Cola Femsa Stock Down 1.7%

Shares of KOF stock traded down $1.45 during midday trading on Friday, reaching $84.89. 206,259 shares of the stock were exchanged, compared to its average volume of 169,272. 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 company's 50 day moving average is $88.28 and its two-hundred day moving average is $90.94. The company has a current ratio of 1.12, a quick ratio of 0.90 and a debt-to-equity ratio of 0.54. The firm has a market cap of $142.67 billion, a PE ratio of 14.87, a price-to-earnings-growth ratio of 1.04 and a beta of 0.62.

Coca Cola Femsa (NYSE:KOF - Get Free Report) last released its quarterly 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). Coca Cola Femsa had a net margin of 8.19% and a return on equity of 15.81%. The firm had revenue of $3.74 billion for the quarter, compared to the consensus estimate of $3.89 billion. On average, equities research analysts predict 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 firm also recently announced 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 4.1%. Coca Cola Femsa's dividend payout ratio is currently 60.42%.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Wall Street Zen downgraded Coca Cola Femsa from a "buy" rating to a "hold" rating in a report on Sunday, July 13th. JPMorgan Chase & Co. decreased their price objective on Coca Cola Femsa from $111.00 to $107.00 and set a "neutral" rating on the stock in a report on Wednesday, July 16th. Morgan Stanley upgraded Coca Cola Femsa from an "equal weight" rating to an "overweight" rating in a report on Monday, June 2nd. Zacks Research downgraded Coca Cola Femsa from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 26th. Finally, UBS Group boosted their price target on Coca Cola Femsa from $109.00 to $113.00 and gave the company a "buy" rating in a report on Tuesday, July 8th. Five equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target 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.