Victory Capital Management Inc. Acquires New Shares in Coca Cola Femsa S.A.B. de C.V. (NYSE:KOF)

Key Points

• Victory Capital Management Inc. invested approximately $7.61 million in Coca Cola Femsa S.A.B. de C.V. by acquiring 83,388 shares during the first quarter.
• The company reported earnings of $1.30 per share for the last quarter, missing analysts' consensus estimates of $1.52.
• Coca Cola Femsa recently declared a quarterly dividend of $0.874 per share, yielding an annualized return of 4.09%.

Victory Capital Management Inc. purchased a new stake in shares of Coca Cola Femsa S.A.B. de C.V. (NYSE:KOF - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 83,388 shares of the company's stock, valued at approximately $7,612,000.

A number of other large investors have also added to or reduced their stakes in KOF. Corvex Management LP increased its holdings in shares of Coca Cola Femsa by 138.9% in the fourth quarter. Corvex Management LP now owns 1,066,108 shares of the company's stock worth $83,039,000 after buying an additional 619,931 shares during the period. Northern Trust Corp increased its holdings in shares of Coca Cola Femsa by 113.8% in the fourth quarter. Northern Trust Corp now owns 166,994 shares of the company's stock worth $13,007,000 after buying an additional 88,873 shares during the period. BLI Banque de Luxembourg Investments purchased a new position in shares of Coca Cola Femsa in the fourth quarter worth about $6,533,000. Capital World Investors purchased a new position in shares of Coca Cola Femsa in the fourth quarter worth about $4,702,000. Finally, Ninety One UK Ltd purchased a new position in shares of Coca Cola Femsa in the first quarter worth about $3,979,000.

Coca Cola Femsa Trading Down 1.9%

NYSE:KOF traded down $1.63 during mid-day trading on Friday, reaching $85.39. 277,283 shares of the company's stock traded hands, compared to its average volume of 201,748. 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 firm has a market capitalization of $143.51 billion, a price-to-earnings ratio of 14.95, a PEG ratio of 0.80 and a beta of 0.60. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.12 and a quick ratio of 0.96. The company has a 50 day moving average price of $93.98 and a 200-day moving average price of $89.69.

Coca Cola Femsa (NYSE:KOF - Get Free Report) last posted its quarterly earnings data 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). The firm had revenue of $3.74 billion for the quarter, compared to the consensus estimate of $3.89 billion. Coca Cola Femsa had a net margin of 8.19% and a return on equity of 15.81%. On average, sell-side 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 Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 28th. Shareholders of record on Tuesday, July 15th will be given a dividend of $0.874 per share. The ex-dividend date of this dividend is Tuesday, July 15th. This represents a $3.50 annualized dividend and a yield of 4.09%. Coca Cola Femsa's payout ratio is 57.89%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on KOF shares. Wall Street Zen downgraded Coca Cola Femsa from a "buy" rating to a "hold" rating in a report on Sunday, July 13th. Morgan Stanley upgraded Coca Cola Femsa from an "equal weight" rating to an "overweight" rating in a report on Monday, June 2nd. JPMorgan Chase & Co. reduced their price target on Coca Cola Femsa from $111.00 to $107.00 and set a "neutral" rating on the stock in a report on Wednesday, July 16th. Finally, UBS Group boosted their price target on Coca Cola Femsa from $109.00 to $113.00 and gave the company a "buy" rating in a report on Tuesday, July 8th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $106.75.

About Coca Cola Femsa

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.