Summit Global Investments Invests $4.92 Million in Coca Cola Femsa S.A.B. de C.V. $KOF

Key Points

• Summit Global Investments acquired a new 60,553-share stake in Coca-Cola FEMSA during the second quarter, valued at approximately $4.92 million.
• Coca-Cola FEMSA reported quarterly earnings of $1.69 per share on $4.36 billion in revenue, while analysts expect full-year EPS of about $6.75.
• The company increased its quarterly dividend to $1.1248 per share, equivalent to an annualized $4.50 payout and a 4.1% yield. Analysts maintain a consensus “Hold” rating with an average price target of $118.83.

Summit Global Investments acquired a new stake in Coca Cola Femsa S.A.B. de C.V. (NYSE:KOF - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 60,553 shares of the company's stock, valued at approximately $4,921,000.

A number of other hedge funds have also made changes to their positions in KOF. Caitong International Asset Management Co. Ltd lifted its stake in Coca Cola Femsa by 482.5% during the third 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 last quarter. Smartleaf Asset Management LLC boosted its holdings in Coca Cola Femsa by 79.3% in 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 in the last quarter. Whipplewood Advisors LLC increased its stake in Coca Cola Femsa by 862.2% in the first quarter. Whipplewood Advisors LLC now owns 433 shares of the company's stock valued at $42,000 after purchasing an additional 388 shares during the last quarter. Farther Finance Advisors LLC increased its stake in Coca Cola Femsa by 490.7% in the fourth quarter. Farther Finance Advisors LLC now owns 508 shares of the company's stock valued at $48,000 after purchasing an additional 422 shares during the last quarter. Finally, Global Retirement Partners LLC raised its holdings in Coca Cola Femsa by 138.9% during the fourth quarter. Global Retirement Partners LLC now owns 516 shares of the company's stock worth $49,000 after purchasing an additional 300 shares in the last quarter.

Coca Cola Femsa Trading Down 0.1%

NYSE:KOF opened at $108.69 on Friday. The company has a market capitalization of $182.67 billion, a PE ratio of 17.14, a P/E/G ratio of 1.33 and a beta of 0.52. Coca Cola Femsa S.A.B. de C.V. has a 52-week low of $80.22 and a 52-week high of $116.36. The stock's 50 day moving average price is $106.50 and its 200 day moving average price is $105.29. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.48.

Coca Cola Femsa (NYSE:KOF - Get Free Report) last posted its quarterly earnings data on Wednesday, July 1st. The company reported $1.69 earnings per share for the quarter. The business had revenue of $4.36 billion during the quarter. Coca Cola Femsa had a return on equity of 15.83% and a net margin of 8.05%. On average, 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 firm also recently declared a quarterly dividend, which was paid on Friday, July 24th. Investors of record on Monday, July 13th were paid a dividend of $1.1248 per share. The ex-dividend date was Monday, July 13th. This represents a $4.50 dividend on an annualized basis and a yield of 4.1%. This is an increase from Coca Cola Femsa's previous quarterly dividend of $1.09. Coca Cola Femsa's dividend payout ratio (DPR) is currently 62.15%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on KOF. UBS Group boosted their price objective on shares of Coca Cola Femsa from $110.00 to $113.00 and gave the stock a "neutral" rating in a research report on Monday, August 3rd. Barclays increased their target price on shares of Coca Cola Femsa from $115.00 to $122.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 29th. Weiss Ratings upgraded shares of Coca Cola Femsa from a "buy (b-)" rating to a "buy (b)" rating in a research note on Friday, May 29th. HSBC reissued a "hold" rating and issued a $116.00 price target on shares of Coca Cola Femsa in a research report on Tuesday, July 28th. Finally, Wall Street Zen upgraded shares of 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 given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $118.83.

About Coca Cola Femsa

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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