Summit Global Investments Acquires 829 Shares of Coca-Cola FEMSA, S.A.B. de C.V. (NYSE:KOF)

Summit Global Investments boosted its holdings in Coca-Cola FEMSA, S.A.B. de C.V. (NYSE:KOF) by 2.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 29,850 shares of the company’s stock after acquiring an additional 829 shares during the quarter. Summit Global Investments’ holdings in Coca-Cola FEMSA were worth $2,825,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Hartford Financial Management Inc. grew its holdings in Coca-Cola FEMSA by 40.1% during the fourth quarter. Hartford Financial Management Inc. now owns 395 shares of the company’s stock worth $37,000 after buying an additional 113 shares in the last quarter. Signaturefd LLC increased its stake in Coca-Cola FEMSA by 48.7% in the 3rd quarter. Signaturefd LLC now owns 898 shares of the company’s stock valued at $70,000 after buying an additional 294 shares during the last quarter. NBC Securities Inc. bought a new position in shares of Coca-Cola FEMSA during the 3rd quarter worth approximately $105,000. Systematic Alpha Investments LLC purchased a new position in shares of Coca-Cola FEMSA in the 3rd quarter worth approximately $149,000. Finally, Ballentine Partners LLC purchased a new stake in shares of Coca-Cola FEMSA during the fourth quarter valued at approximately $209,000.

Coca-Cola FEMSA Price Performance

Coca-Cola FEMSA stock traded up $0.86 during midday trading on Friday, reaching $98.43. 107,308 shares of the stock were exchanged, compared to its average volume of 162,774. The company’s fifty day moving average is $96.62 and its 200-day moving average is $91.62. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.87 and a current ratio of 1.05. Coca-Cola FEMSA, S.A.B. de C.V. has a 52 week low of $69.33 and a 52 week high of $104.38.

Coca-Cola FEMSA (NYSE:KOF) last posted its earnings results on Wednesday, April 24th. The company reported $1.40 EPS for the quarter, topping the consensus estimate of $1.37 by $0.03. Coca-Cola FEMSA had a return on equity of 15.96% and a net margin of 8.15%. The business had revenue of $3.76 billion during the quarter, compared to analysts’ expectations of $3.67 billion. As a group, equities analysts forecast that Coca-Cola FEMSA, S.A.B. de C.V. will post 6.57 EPS for the current year.

Coca-Cola FEMSA Cuts Dividend

The business also recently announced an annual dividend, which was paid on Friday, April 26th. Shareholders of record on Monday, April 15th were given a dividend of $0.81 per share. The ex-dividend date of this dividend was Friday, April 12th. This represents a yield of 0.84%. Coca-Cola FEMSA’s payout ratio is presently 13.91%.

Analysts Set New Price Targets

Several research firms have weighed in on KOF. UBS Group boosted their price objective on Coca-Cola FEMSA from $109.00 to $112.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Scotiabank raised shares of Coca-Cola FEMSA from a “sector perform” rating to a “sector outperform” rating in a report on Friday, April 12th. JPMorgan Chase & Co. lifted their target price on shares of Coca-Cola FEMSA from $102.00 to $107.00 and gave the stock an “overweight” rating in a research note on Friday, April 12th. Finally, StockNews.com upgraded shares of Coca-Cola FEMSA from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, April 17th. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $100.75.

Coca-Cola FEMSA Company Profile

Coca-Cola FEMSA, SAB. de C.V., a franchise bottler, produces, markets, sells, and distributes Coca-Cola trademark beverages. The company offers sparkling beverages, including colas and flavored sparkling beverages; and waters and other beverages, such as juice drinks, coffee, teas, milk, value-added dairy products, sports and energy drinks, alcoholic beverages, and plant-based drinks.