Summit Global Investments Decreases Stock Position in Coca Cola Femsa S.A.B. de C.V. $KOF

Key Points

• Summit Global Investments cut its stake in Coca-Cola FEMSA by 56.3% in Q1, selling 10,122 shares and ending with 7,842 shares worth about $765,000.
• Analyst sentiment remains mixed but generally constructive: UBS trimmed its target to $110, JPMorgan raised its target to $127, and the stock currently carries a “Moderate Buy” consensus with an average price target of $117.40.
• Coca-Cola FEMSA reported $1.16 EPS in its latest quarter and boosted its quarterly dividend to $1.1248 per share, implying an annualized yield of about 4.3%.

Summit Global Investments lessened its stake in Coca Cola Femsa S.A.B. de C.V. (NYSE:KOF - Free Report) by 56.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,842 shares of the company's stock after selling 10,122 shares during the period. Summit Global Investments' holdings in Coca Cola Femsa were worth $765,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of KOF. Caitong International Asset Management Co. Ltd increased its stake in Coca Cola Femsa by 482.5% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 332 shares of the company's stock worth $28,000 after purchasing an additional 275 shares during the period. Smartleaf Asset Management LLC boosted its stake in shares of Coca Cola Femsa by 79.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 346 shares of the company's stock valued at $33,000 after purchasing an additional 153 shares during the period. Whipplewood Advisors LLC grew its holdings in shares of Coca Cola Femsa by 862.2% in the first quarter. Whipplewood Advisors LLC now owns 433 shares of the company's stock worth $42,000 after purchasing an additional 388 shares during the last quarter. Farther Finance Advisors LLC grew its holdings in shares of Coca Cola Femsa by 490.7% in the fourth quarter. Farther Finance Advisors LLC now owns 508 shares of the company's stock worth $48,000 after purchasing an additional 422 shares during the last quarter. Finally, Global Retirement Partners LLC increased its stake in shares of Coca Cola Femsa by 138.9% in the fourth quarter. Global Retirement Partners LLC now owns 516 shares of the company's stock worth $49,000 after buying an additional 300 shares during the period.

Wall Street Analyst Weigh In

Several analysts recently issued reports on KOF shares. UBS Group cut their target price on Coca Cola Femsa from $113.00 to $110.00 and set a "neutral" rating on the stock in a research note on Tuesday, July 14th. JPMorgan Chase & Co. increased their price objective 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 upgraded Coca Cola Femsa from a "buy (b-)" rating to a "buy (b)" rating in a research report on Friday, May 29th. Finally, Barclays boosted their target price on Coca Cola Femsa from $112.00 to $115.00 and gave the company an "equal weight" rating in a research note on Monday, May 4th. Four analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, Coca Cola Femsa presently has an average rating of "Moderate Buy" and an average price target of $117.40.

Coca Cola Femsa Trading Up 0.7%

Shares of KOF opened at $105.06 on Thursday. The firm's 50-day moving average price is $106.13 and its 200-day moving average price is $104.25. The firm has a market capitalization of $176.57 billion, a price-to-earnings ratio of 17.69, a PEG ratio of 1.27 and a beta of 0.53. The company has a current ratio of 1.10, a quick ratio of 0.91 and a debt-to-equity ratio of 0.56. 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.

Coca Cola Femsa (NYSE:KOF - Get Free Report) last announced its quarterly earnings results on Tuesday, March 31st. The company reported $1.16 earnings per share (EPS) for the quarter. Coca Cola Femsa had a net margin of 7.84% and a return on equity of 15.40%. Sell-side analysts anticipate that Coca Cola Femsa S.A.B. de C.V. will post 6.73 EPS for the current year.

Coca Cola Femsa Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 24th. Shareholders of record on Monday, July 13th will be issued a dividend of $1.1248 per share. This is a positive change from Coca Cola Femsa's previous quarterly dividend of $1.09. The ex-dividend date is Monday, July 13th. This represents a $4.50 dividend on an annualized basis and a dividend yield of 4.3%. Coca Cola Femsa's dividend payout ratio (DPR) is currently 66.33%.

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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