JPMorgan Chase & Co. Purchases 378,325 Shares of Coca-Cola FEMSA, S.A.B. de C.V. (NYSE:KOF)

JPMorgan Chase & Co. grew its holdings in Coca-Cola FEMSA, S.A.B. de C.V. (NYSE:KOF) by 90.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 796,574 shares of the company’s stock after purchasing an additional 378,325 shares during the quarter. JPMorgan Chase & Co.’s holdings in Coca-Cola FEMSA were worth $70,672,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bank of New York Mellon Corp boosted its holdings in shares of Coca-Cola FEMSA by 3.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 16,460 shares of the company’s stock worth $1,413,000 after buying an additional 476 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in Coca-Cola FEMSA in the second quarter worth $327,000. Caprock Group LLC raised its holdings in shares of Coca-Cola FEMSA by 272.0% during the second quarter. Caprock Group LLC now owns 12,652 shares of the company’s stock valued at $1,086,000 after purchasing an additional 9,251 shares during the period. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund boosted its position in shares of Coca-Cola FEMSA by 232.7% during the 2nd quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund now owns 19,910 shares of the company’s stock worth $1,709,000 after purchasing an additional 13,925 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC bought a new stake in Coca-Cola FEMSA in the 2nd quarter valued at about $32,000.

Wall Street Analyst Weigh In

A number of brokerages have commented on KOF. StockNews.com raised Coca-Cola FEMSA from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, November 5th. Citigroup upgraded shares of Coca-Cola FEMSA from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $93.00 to $102.00 in a report on Tuesday, October 29th. Finally, Barclays decreased their target price on shares of Coca-Cola FEMSA from $110.00 to $108.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $104.75.

Coca-Cola FEMSA Stock Down 2.1 %

KOF opened at $76.10 on Friday. Coca-Cola FEMSA, S.A.B. de C.V. has a fifty-two week low of $76.02 and a fifty-two week high of $104.38. The firm has a market capitalization of $127.90 billion, a P/E ratio of 12.92, a PEG ratio of 0.71 and a beta of 0.83. The company’s 50-day moving average is $80.21 and its 200 day moving average is $84.63. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.14 and a quick ratio of 0.94.

Coca-Cola FEMSA Cuts Dividend

The firm also recently announced a semi-annual dividend, which was paid on Thursday, December 19th. Stockholders of record on Friday, December 6th were paid a $0.7433 dividend. The ex-dividend date was Friday, December 6th. This represents a dividend yield of 3.7%. Coca-Cola FEMSA’s payout ratio is presently 11.71%.

About Coca-Cola FEMSA

Coca-Cola FEMSA, SAB. de C.V., a franchise bottler, produces, markets, sells, and distributes Coca-Cola trademark beverages in Mexico, Guatemala, Nicaragua, Costa Rica, Panama, Colombia, Brazil, Argentina, and Uruguay. The company offers sparkling beverages, including colas and flavored sparkling beverages; waters; other non-carbonated beverages comprising juice drinks, coffee, teas, milk, value-added dairy products, sports and energy drinks, and plant-based drinks; and alcoholic beverages, such as hard seltzer under the Topo Chico brand name.