Panagora Asset Management Inc. Decreases Stock Holdings in Coca-Cola FEMSA, S.A.B. de C.V. (NYSE:KOF)

Panagora Asset Management Inc. lowered its position in shares of Coca-Cola FEMSA, S.A.B. de C.V. (NYSE:KOF) by 6.5% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 83,994 shares of the company’s stock after selling 5,839 shares during the quarter. Panagora Asset Management Inc.’s holdings in Coca-Cola FEMSA were worth $7,210,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Russell Investments Group Ltd. raised its stake in shares of Coca-Cola FEMSA by 1,541.9% during the fourth quarter. Russell Investments Group Ltd. now owns 4,072 shares of the company’s stock valued at $385,000 after acquiring an additional 3,824 shares during the last quarter. Kestra Private Wealth Services LLC increased its holdings in Coca-Cola FEMSA by 16.7% during the 4th quarter. Kestra Private Wealth Services LLC now owns 8,833 shares of the company’s stock valued at $836,000 after purchasing an additional 1,266 shares during the period. Savant Capital LLC bought a new position in Coca-Cola FEMSA during the 4th quarter valued at approximately $236,000. West Family Investments Inc. purchased a new stake in Coca-Cola FEMSA in the 4th quarter worth approximately $230,000. Finally, Natixis Advisors L.P. grew its position in shares of Coca-Cola FEMSA by 4.3% in the 4th quarter. Natixis Advisors L.P. now owns 233,323 shares of the company’s stock worth $22,081,000 after buying an additional 9,537 shares during the last quarter.

Analyst Upgrades and Downgrades

KOF has been the subject of a number of research analyst reports. Barclays raised their price target on Coca-Cola FEMSA from $105.00 to $110.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. UBS Group decreased their price objective on shares of Coca-Cola FEMSA from $112.00 to $102.00 and set a “buy” rating for the company in a report on Wednesday, July 10th. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Coca-Cola FEMSA currently has a consensus rating of “Buy” and an average target price of $101.91.

Coca-Cola FEMSA Trading Down 1.0 %

NYSE:KOF opened at $84.27 on Friday. Coca-Cola FEMSA, S.A.B. de C.V. has a one year low of $69.33 and a one year high of $104.38. The company’s 50-day simple moving average is $86.66 and its 200 day simple moving average is $92.51. The firm has a market capitalization of $141.63 billion, a P/E ratio of 14.84, a PEG ratio of 0.74 and a beta of 0.87. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.05 and a quick ratio of 0.87.

Coca-Cola FEMSA (NYSE:KOF) last posted its quarterly earnings results on Monday, July 22nd. The company reported $1.55 earnings per share for the quarter, hitting the consensus estimate of $1.55. The company had revenue of $4.03 billion for the quarter, compared to the consensus estimate of $3.76 billion. Coca-Cola FEMSA had a return on equity of 16.23% and a net margin of 8.16%. During the same quarter in the prior year, the business posted $1.32 EPS. As a group, analysts forecast that Coca-Cola FEMSA, S.A.B. de C.V. will post 6.59 EPS for the current fiscal year.

Coca-Cola FEMSA Cuts Dividend

The business also recently declared a semi-annual dividend, which was paid on Friday, July 26th. Stockholders of record on Monday, July 15th were given a $0.8325 dividend. This represents a dividend yield of 3.7%. The ex-dividend date was Monday, July 15th. Coca-Cola FEMSA’s dividend payout ratio is presently 13.20%.

About Coca-Cola FEMSA

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.