Lazard Asset Management LLC Cuts Position in Coca-Cola FEMSA, S.A.B. de C.V. (NYSE:KOF)

Lazard Asset Management LLC cut its holdings in shares of Coca-Cola FEMSA, S.A.B. de C.V. (NYSE:KOF - Free Report) by 1.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 609,680 shares of the company's stock after selling 7,115 shares during the period. Lazard Asset Management LLC's holdings in Coca-Cola FEMSA were worth $47,487,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Focus Partners Wealth acquired a new position in shares of Coca-Cola FEMSA in the 4th quarter valued at $334,000. Corvex Management LP grew its holdings in Coca-Cola FEMSA by 138.9% during the fourth quarter. Corvex Management LP now owns 1,066,108 shares of the company's stock worth $83,039,000 after purchasing an additional 619,931 shares during the period. Banque de Luxembourg S.A. bought a new position in Coca-Cola FEMSA during the fourth quarter worth about $43,000. BLI Banque de Luxembourg Investments bought a new position in Coca-Cola FEMSA during the fourth quarter worth about $6,533,000. Finally, BNP Paribas Financial Markets grew its holdings in Coca-Cola FEMSA by 32.1% during the fourth quarter. BNP Paribas Financial Markets now owns 54,744 shares of the company's stock worth $4,264,000 after purchasing an additional 13,316 shares during the period.

Coca-Cola FEMSA Trading Up 1.3%

Shares of Coca-Cola FEMSA stock traded up $1.19 during trading on Friday, hitting $92.66. The company's stock had a trading volume of 232,294 shares, compared to its average volume of 185,724. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.14 and a quick ratio of 0.94. Coca-Cola FEMSA, S.A.B. de C.V. has a 52 week low of $72.68 and a 52 week high of $101.74. The stock has a market cap of $155.72 billion, a price-to-earnings ratio of 15.73, a price-to-earnings-growth ratio of 0.62 and a beta of 0.63. The stock has a 50-day moving average price of $92.82 and a two-hundred day moving average price of $84.75.

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

Coca-Cola FEMSA Increases Dividend

The business also recently disclosed 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. This represents a dividend yield of 3.1%. The ex-dividend date was Tuesday, April 22nd. This is a boost from Coca-Cola FEMSA's previous semi-annual dividend of $0.74. Coca-Cola FEMSA's dividend payout ratio is 13.76%.

Wall Street Analyst Weigh In

KOF has been the subject of several research reports. Barclays raised their price objective on shares of Coca-Cola FEMSA from $99.00 to $105.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 4th. UBS Group lifted 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 report on Monday, May 5th. JPMorgan Chase & Co. boosted their price objective on shares of Coca-Cola FEMSA from $107.00 to $110.00 and gave the company an "overweight" rating in a research report on Friday, April 11th. Finally, StockNews.com cut shares of Coca-Cola FEMSA from a "strong-buy" rating to a "buy" rating in a research note on Thursday, May 1st. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $106.50.

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.