Oppenheimer Asset Management Inc. Makes New Investment in Coca Cola Femsa S.A.B. de C.V. $KOF

Key Points

• Oppenheimer Asset Management acquired 20,334 shares of Coca-Cola FEMSA during the second quarter, valued at approximately $1.65 million. Several other institutional investors also increased or initiated positions.
• Analysts raised price targets to as high as $127, but the overall consensus remains “Hold”, with an average target of $118.83.
• KOF shares opened at $108.69, while the company reported $1.69 in quarterly EPS on $4.36 billion in revenue. Coca-Cola FEMSA also increased its quarterly dividend to $1.1248, representing an annualized yield of about 4.1%.

Oppenheimer Asset Management Inc. acquired a new stake in Coca Cola Femsa S.A.B. de C.V. (NYSE:KOF - Free Report) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 20,334 shares of the company's stock, valued at approximately $1,653,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in KOF. NewEdge Advisors LLC boosted its holdings in Coca Cola Femsa by 230,700.0% during the first quarter. NewEdge Advisors LLC now owns 2,308 shares of the company's stock worth $211,000 after purchasing an additional 2,307 shares during the last quarter. Jones Financial Companies Lllp increased its stake in Coca Cola Femsa by 211.4% in the 1st quarter. Jones Financial Companies Lllp now owns 4,936 shares of the company's stock valued at $451,000 after buying an additional 3,351 shares during the last quarter. CW Advisors LLC acquired a new stake in Coca Cola Femsa in the 2nd quarter valued at $260,000. EverSource Wealth Advisors LLC lifted its position in Coca Cola Femsa by 186.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 923 shares of the company's stock worth $89,000 after buying an additional 601 shares in the last quarter. Finally, Qube Research & Technologies Ltd lifted its position in Coca Cola Femsa by 11.9% during the 2nd quarter. Qube Research & Technologies Ltd now owns 121,761 shares of the company's stock worth $11,778,000 after buying an additional 12,979 shares in the last quarter.

Analysts Set New Price Targets

KOF has been the subject of several analyst reports. Barclays raised their price objective on Coca Cola Femsa from $115.00 to $122.00 and gave the company an "equal weight" rating in a report on Wednesday, July 29th. JPMorgan Chase & Co. upped their target price on Coca Cola Femsa from $114.00 to $127.00 and gave the stock a "neutral" rating in a report on Wednesday, July 15th. Weiss Ratings raised Coca Cola Femsa from a "buy (b-)" rating to a "buy (b)" rating in a research report on Friday, May 29th. UBS Group increased their price target on Coca Cola Femsa from $110.00 to $113.00 and gave the company a "neutral" rating in a research report on Monday, August 3rd. Finally, Wall Street Zen upgraded Coca Cola Femsa from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 8th. Four research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, Coca Cola Femsa has an average rating of "Hold" and an average price target of $118.83.

Coca Cola Femsa Stock Down 0.2%

KOF stock opened at $108.69 on Monday. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $182.67 billion, a PE ratio of 17.14, a PEG ratio of 1.33 and a beta of 0.52. Coca Cola Femsa S.A.B. de C.V. has a 1-year low of $80.22 and a 1-year high of $116.36. The business's 50 day simple moving average is $106.50 and its 200 day simple moving average is $105.28.

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 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, research analysts anticipate that Coca Cola Femsa S.A.B. de C.V. will post 6.75 EPS for the current year.

Coca Cola Femsa Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 24th. Stockholders of record on Monday, July 13th were given a $1.1248 dividend. The ex-dividend date of this dividend was Monday, July 13th. This is a boost from Coca Cola Femsa's previous quarterly dividend of $1.09. This represents a $4.50 annualized dividend and a dividend yield of 4.1%. Coca Cola Femsa's payout ratio is currently 62.15%.

Coca Cola Femsa Company Profile

Coca‑Cola FEMSA NYSE: KOF is a large multinational beverage bottler and distributor operating primarily in Mexico and across multiple markets in Latin America. As a principal franchise bottler for The Coca‑Cola Company, the firm is responsible for producing, packaging, marketing and distributing Coca‑Cola branded beverages and a wide range of nonalcoholic drinks to retail and foodservice customers throughout its territories.

The company's product portfolio includes carbonated soft drinks, bottled water, juices, ready‑to‑drink teas and coffees, sports and energy drinks, and other noncarbonated beverages.

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