Summit Global Investments Sells 10,122 Shares of Coca Cola Femsa S.A.B. de C.V. $KOF

Summit Global Investments lowered its position in shares of Coca Cola Femsa S.A.B. de C.V. (NYSE:KOF) by 56.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,842 shares of the company’s stock after selling 10,122 shares during the quarter. Summit Global Investments’ holdings in Coca Cola Femsa were worth $765,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Parallel Advisors LLC grew its position in shares of Coca Cola Femsa by 19.1% in the 4th quarter. Parallel Advisors LLC now owns 616 shares of the company’s stock worth $58,000 after buying an additional 99 shares during the period. Kathmere Capital Management LLC boosted its stake in Coca Cola Femsa by 1.5% during the first quarter. Kathmere Capital Management LLC now owns 7,459 shares of the company’s stock worth $728,000 after acquiring an additional 112 shares in the last quarter. Signaturefd LLC boosted its stake in Coca Cola Femsa by 22.7% during the fourth quarter. Signaturefd LLC now owns 708 shares of the company’s stock worth $67,000 after acquiring an additional 131 shares in the last quarter. Vise Technologies Inc. boosted its stake in Coca Cola Femsa by 0.6% during the fourth quarter. Vise Technologies Inc. now owns 23,877 shares of the company’s stock worth $2,261,000 after acquiring an additional 150 shares in the last quarter. Finally, Vident Advisory LLC grew its holdings in Coca Cola Femsa by 2.4% in the fourth quarter. Vident Advisory LLC now owns 6,498 shares of the company’s stock worth $615,000 after purchasing an additional 152 shares during the period.

Coca Cola Femsa Stock Performance

Shares of KOF opened at $105.06 on Thursday. The company has a market cap of $176.57 billion, a price-to-earnings ratio of 17.69, a P/E/G ratio of 1.27 and a beta of 0.53. The business’s fifty day simple moving average is $106.13 and its two-hundred day simple moving average is $104.25. Coca Cola Femsa S.A.B. de C.V. has a 12 month low of $80.22 and a 12 month high of $116.36. The company has a current ratio of 1.10, a quick ratio of 0.91 and a debt-to-equity ratio of 0.56.

Coca Cola Femsa (NYSE:KOF) last posted its quarterly earnings results on Tuesday, March 31st. The company reported $1.16 earnings per share for the quarter. Coca Cola Femsa had a return on equity of 15.40% and a net margin of 7.84%. Research analysts anticipate that Coca Cola Femsa S.A.B. de C.V. will post 6.73 earnings per share for the current fiscal year.

Coca Cola Femsa Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 24th. Shareholders of record on Monday, July 13th will be issued a $1.1248 dividend. This is a positive change from Coca Cola Femsa’s previous quarterly dividend of $1.09. This represents a $4.50 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date of this dividend is Monday, July 13th. Coca Cola Femsa’s dividend payout ratio is currently 66.33%.

Analyst Ratings Changes

KOF has been the subject of a number of analyst reports. Barclays raised their target price on shares of Coca Cola Femsa from $112.00 to $115.00 and gave the company an “equal weight” rating in a research note on Monday, May 4th. UBS Group cut their price target on Coca Cola Femsa from $113.00 to $110.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 14th. JPMorgan Chase & Co. raised their price objective on Coca Cola Femsa from $114.00 to $127.00 and gave the company a “neutral” rating in a research report on Wednesday, July 15th. Finally, Weiss Ratings upgraded Coca Cola Femsa from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, May 29th. Four research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, Coca Cola Femsa presently has a consensus rating of “Moderate Buy” and a consensus price target of $117.40.

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.