State Street Corp Sells 9,500 Shares of Coca-Cola FEMSA, S.A.B. de C.V. (NYSE:KOF)

State Street Corp trimmed its holdings in shares of Coca-Cola FEMSA, S.A.B. de C.V. (NYSE:KOF) by 60.9% during the third quarter, HoldingsChannel reports. The fund owned 6,100 shares of the company’s stock after selling 9,500 shares during the quarter. State Street Corp’s holdings in Coca-Cola FEMSA were worth $541,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in KOF. Itau Unibanco Holding S.A. raised its stake in Coca-Cola FEMSA by 13.9% during the 2nd quarter. Itau Unibanco Holding S.A. now owns 508,967 shares of the company’s stock worth $42,025,000 after buying an additional 62,282 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in shares of Coca-Cola FEMSA during the third quarter worth approximately $31,000. Marshall Wace LLP bought a new position in shares of Coca-Cola FEMSA in the 2nd quarter worth $7,708,000. Canada Pension Plan Investment Board acquired a new stake in Coca-Cola FEMSA in the 2nd quarter valued at $2,515,000. Finally, HighTower Advisors LLC increased its stake in Coca-Cola FEMSA by 43.3% during the 3rd quarter. HighTower Advisors LLC now owns 4,844 shares of the company’s stock valued at $428,000 after purchasing an additional 1,464 shares in the last quarter.

Coca-Cola FEMSA Price Performance

KOF opened at $76.10 on Friday. The firm has a market cap 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 has a debt-to-equity ratio of 0.47, a quick ratio of 0.94 and a current ratio of 1.14. 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 50-day moving average of $80.21 and a 200 day moving average of $84.63.

Coca-Cola FEMSA Cuts Dividend

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

Analyst Upgrades and Downgrades

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

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.