Rhumbline Advisers Trims Holdings in Coca Cola Femsa S.A.B. de C.V. $KOF

Key Points

• Rhumbline Advisers significantly reduced its holdings in Coca Cola Femsa by 61.9%, dropping from 12,708 shares to 4,845 shares in the 1st quarter of the year.
• Institutional investors made several new purchases in Coca Cola Femsa, with notable investments from Wayfinding Financial LLC and NBC Securities Inc., among others, indicating ongoing interest from the sector.
• Coca Cola Femsa faced a disappointing earnings report, with earnings per share of $1.30, missing estimates by ($0.22) and resulting in a revenue of $3.74 billion, below analyst expectations.

Rhumbline Advisers reduced its holdings in shares of Coca Cola Femsa S.A.B. de C.V. (NYSE:KOF - Free Report) by 61.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,845 shares of the company's stock after selling 7,863 shares during the quarter. Rhumbline Advisers' holdings in Coca Cola Femsa were worth $442,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wayfinding Financial LLC purchased a new position in shares of Coca Cola Femsa during the 1st quarter valued at approximately $41,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Coca Cola Femsa during the 4th quarter valued at approximately $43,000. NBC Securities Inc. purchased a new position in shares of Coca Cola Femsa during the 1st quarter valued at approximately $76,000. GHP Investment Advisors Inc. purchased a new position in shares of Coca Cola Femsa during the 1st quarter valued at approximately $83,000. Finally, ORG Wealth Partners LLC boosted its stake in shares of Coca Cola Femsa by 36.3% during the 1st quarter. ORG Wealth Partners LLC now owns 992 shares of the company's stock valued at $93,000 after buying an additional 264 shares during the last quarter.

Analyst Ratings Changes

Several equities analysts have recently commented on KOF shares. Morgan Stanley upgraded Coca Cola Femsa from an "equal weight" rating to an "overweight" rating in a research note on Monday, June 2nd. JPMorgan Chase & Co. reduced their price objective on Coca Cola Femsa from $110.00 to $105.00 and set a "neutral" rating on the stock in a research note on Monday, September 15th. UBS Group raised their price objective 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. Zacks Research cut Coca Cola Femsa from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 26th. Finally, Wall Street Zen cut Coca Cola Femsa from a "buy" rating to a "hold" rating in a research note on Sunday, July 13th. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $105.00.

Coca Cola Femsa Price Performance

Shares of NYSE KOF opened at $85.61 on Wednesday. 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 has a debt-to-equity ratio of 0.54, a current ratio of 1.12 and a quick ratio of 0.90. The business's fifty day moving average price is $85.19 and its two-hundred day moving average price is $90.71. The firm has a market capitalization of $143.87 billion, a PE ratio of 14.99, a P/E/G ratio of 1.08 and a beta of 0.64.

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 the consensus estimate of $1.52 by ($0.22). Coca Cola Femsa had a return on equity of 15.81% and a net margin of 8.19%.The company had revenue of $3.74 billion during the quarter, compared to analyst estimates of $3.89 billion. On average, research 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 firm also recently declared a quarterly dividend, which was paid on Monday, July 28th. Stockholders of record on Tuesday, July 15th were issued a dividend of $0.874 per share. This represents a $3.50 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date of this dividend was Tuesday, July 15th. Coca Cola Femsa's dividend payout ratio (DPR) is 60.42%.

Coca Cola Femsa 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.

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