Summit Global Investments Sells 15,416 Shares of Coca-Cola FEMSA, S.A.B. de C.V. (NYSE:KOF)

Summit Global Investments cut its holdings in Coca-Cola FEMSA, S.A.B. de C.V. (NYSE:KOF - Free Report) by 66.7% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 7,710 shares of the company's stock after selling 15,416 shares during the period. Summit Global Investments' holdings in Coca-Cola FEMSA were worth $704,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. TD Private Client Wealth LLC raised its holdings in shares of Coca-Cola FEMSA by 5.0% in the 4th quarter. TD Private Client Wealth LLC now owns 3,257 shares of the company's stock worth $254,000 after purchasing an additional 155 shares in the last quarter. Avantax Advisory Services Inc. lifted its stake in shares of Coca-Cola FEMSA by 1.8% in the fourth quarter. Avantax Advisory Services Inc. now owns 11,976 shares of the company's stock worth $933,000 after buying an additional 212 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in Coca-Cola FEMSA during the 4th quarter valued at $29,000. Steward Partners Investment Advisory LLC raised its stake in Coca-Cola FEMSA by 1,388.9% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 402 shares of the company's stock valued at $31,000 after purchasing an additional 375 shares during the last quarter. Finally, Leo Wealth LLC increased its holdings in Coca-Cola FEMSA by 3.0% in the 4th quarter. Leo Wealth LLC now owns 13,630 shares of the company's stock valued at $1,062,000 after buying an additional 394 shares during the period.

Analyst Ratings Changes

KOF has been the topic of a number of research analyst reports. Wall Street Zen raised shares of Coca-Cola FEMSA from a "hold" rating to a "buy" rating in a report on Saturday, May 24th. JPMorgan Chase & Co. raised their target price on shares of Coca-Cola FEMSA from $107.00 to $110.00 and gave the company an "overweight" rating in a research note on Friday, April 11th. Morgan Stanley raised Coca-Cola FEMSA from an "equal weight" rating to an "overweight" rating in a report on Monday. UBS Group upped their price target on shares of Coca-Cola FEMSA from $106.00 to $109.00 and gave the company a "buy" rating in a research note on Monday, May 5th. Finally, Barclays boosted their price target on Coca-Cola FEMSA from $99.00 to $105.00 and gave the company an "overweight" rating in a research note on Tuesday, March 4th. Seven research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $106.50.

Coca-Cola FEMSA Trading Up 0.6%

Shares of NYSE:KOF traded up $0.58 during midday trading on Thursday, hitting $96.98. 211,260 shares of the stock were exchanged, compared to its average volume of 193,060. The business's 50-day moving average price is $94.45 and its 200 day moving average price is $86.15. Coca-Cola FEMSA, S.A.B. de C.V. has a 12 month low of $72.68 and a 12 month high of $101.74. The stock has a market capitalization of $162.99 billion, a price-to-earnings ratio of 16.47, a P/E/G ratio of 0.62 and a beta of 0.63. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.94 and a current ratio of 1.14.

Coca-Cola FEMSA (NYSE:KOF - Get Free Report) last issued its quarterly earnings results on Friday, April 25th. The company reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.19. Coca-Cola FEMSA had a return on equity of 15.99% and a net margin of 8.12%. The firm had revenue of $3.42 billion for the quarter, compared to analyst estimates of $3.44 billion. Analysts predict that Coca-Cola FEMSA, S.A.B. de C.V. will post 5.7 earnings per share for the current year.

Coca-Cola FEMSA Increases Dividend

The firm also recently announced a semi-annual dividend, which was paid on Monday, May 5th. Stockholders of record on Tuesday, April 22nd were given a dividend of $0.8839 per share. The ex-dividend date of this dividend was Tuesday, April 22nd. This is a positive change from Coca-Cola FEMSA's previous semi-annual dividend of $0.74. This represents a dividend yield of 3.1%. Coca-Cola FEMSA's dividend payout ratio (DPR) is currently 13.76%.

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.