First Eagle Investment Management LLC Reduces Position in Coca-Cola FEMSA, S.A.B. de C.V. (NYSE:KOF)

First Eagle Investment Management LLC decreased its holdings in shares of Coca-Cola FEMSA, S.A.B. de C.V. (NYSE:KOF) by 6.7% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 278,229 shares of the company’s stock after selling 20,000 shares during the quarter. First Eagle Investment Management LLC’s holdings in Coca-Cola FEMSA were worth $23,883,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Russell Investments Group Ltd. boosted its holdings in Coca-Cola FEMSA by 1,541.9% during the 4th 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 period. Janney Montgomery Scott LLC grew its holdings in shares of Coca-Cola FEMSA by 44.4% in the fourth quarter. Janney Montgomery Scott LLC now owns 9,835 shares of the company’s stock worth $931,000 after purchasing an additional 3,023 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of Coca-Cola FEMSA in the fourth quarter worth about $260,000. UBS Group AG increased its stake in Coca-Cola FEMSA by 1.2% in the 4th quarter. UBS Group AG now owns 143,540 shares of the company’s stock worth $13,585,000 after buying an additional 1,677 shares during the period. Finally, Balentine LLC lifted its holdings in Coca-Cola FEMSA by 11.1% during the 4th quarter. Balentine LLC now owns 3,417 shares of the company’s stock valued at $323,000 after buying an additional 341 shares in the last quarter.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Barclays upped their target price on shares of 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 reduced their price objective on Coca-Cola FEMSA from $112.00 to $102.00 and set a “buy” rating on the stock in a report on Wednesday, July 10th. Finally, The Goldman Sachs Group upgraded Coca-Cola FEMSA from a “neutral” rating to a “buy” rating in a report on Tuesday, September 3rd. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $101.91.

Coca-Cola FEMSA Price Performance

NYSE KOF opened at $91.00 on Thursday. The company has a market cap of $152.94 billion, a PE ratio of 16.02, a P/E/G ratio of 0.70 and a beta of 0.85. The firm’s 50 day moving average price is $87.31 and its 200-day moving average price is $91.34. 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 Monday, July 22nd. The company reported $1.55 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.55. Coca-Cola FEMSA had a return on equity of 16.23% and a net margin of 8.16%. The company had revenue of $4.03 billion during the quarter, compared to analyst estimates of $3.76 billion. During the same quarter in the prior year, the business earned $1.32 earnings per share. Sell-side analysts forecast that Coca-Cola FEMSA, S.A.B. de C.V. will post 6.28 EPS for the current fiscal year.

Coca-Cola FEMSA Cuts Dividend

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

Coca-Cola FEMSA 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.