Legal & General Group Plc Takes Position in Coca Cola Femsa S.A.B. de C.V. $KOF

Legal & General Group Plc bought a new stake in Coca Cola Femsa S.A.B. de C.V. (NYSE:KOF) in the second quarter, HoldingsChannel.com reports. The institutional investor bought 74,092 shares of the company’s stock, valued at approximately $14,146,000.

Several other institutional investors have also modified their holdings of KOF. Bank of New York Mellon Corp acquired a new stake in shares of Coca Cola Femsa in the 2nd quarter worth approximately $2,769,992,000. BlackRock Inc. acquired a new position in Coca Cola Femsa during the second quarter worth $1,017,381,000. Danske Bank A S acquired a new position in Coca Cola Femsa during the second quarter worth $280,671,000. Stack Financial Management Inc acquired a new stake in Coca Cola Femsa in the second quarter valued at $26,079,000. Finally, Bank of America Corp DE increased its position in shares of Coca Cola Femsa by 87.4% in the second quarter. Bank of America Corp DE now owns 589,519 shares of the company’s stock valued at $57,024,000 after buying an additional 274,894 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on KOF shares. UBS Group boosted their price objective on shares of Coca Cola Femsa from $110.00 to $113.00 and gave the stock a “neutral” rating in a research report on Monday, August 3rd. Barclays lifted their target price on shares of Coca Cola Femsa from $115.00 to $122.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 29th. Wall Street Zen upgraded shares of Coca Cola Femsa from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 8th. JPMorgan Chase & Co. increased their price target on shares of 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 reissued a “buy (b)” rating on shares of Coca Cola Femsa in a research note on Wednesday. Four research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $118.83.

Coca Cola Femsa Stock Performance

NYSE:KOF opened at $112.66 on Monday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.04 and a quick ratio of 0.87. The firm has a market cap of $189.34 billion, a PE ratio of 17.77, a P/E/G ratio of 1.52 and a beta of 0.52. The firm has a 50 day simple moving average of $107.68 and a 200-day simple moving average of $105.68. Coca Cola Femsa S.A.B. de C.V. has a 1-year low of $80.22 and a 1-year high of $117.09.

Coca Cola Femsa (NYSE:KOF) last announced its earnings results on Wednesday, July 1st. The company reported $1.69 earnings per share (EPS) for the quarter. The firm had revenue of $4.36 billion for the quarter. Coca Cola Femsa had a net margin of 8.05% and a return on equity of 15.83%. On average, equities analysts expect that Coca Cola Femsa S.A.B. de C.V. will post 7.03 EPS for the current year.

Coca Cola Femsa Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 24th. Stockholders of record on Monday, July 13th were issued a dividend of $1.1248 per share. This represents a $4.50 annualized dividend and a dividend yield of 4.0%. This is a positive change from Coca Cola Femsa’s previous quarterly dividend of $1.09. The ex-dividend date was Monday, July 13th. Coca Cola Femsa’s payout ratio is 61.99%.

Coca Cola Femsa Company Profile

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.