Advisors Asset Management Inc. Cuts Position in Coca-Cola FEMSA, S.A.B. de C.V. (NYSE:KOF)

Advisors Asset Management Inc. decreased its position in shares of Coca-Cola FEMSA, S.A.B. de C.V. (NYSE:KOF) by 12.0% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,628 shares of the company’s stock after selling 2,264 shares during the period. Advisors Asset Management Inc.’s holdings in Coca-Cola FEMSA were worth $1,475,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in KOF. Price T Rowe Associates Inc. MD purchased a new position in shares of Coca-Cola FEMSA during the 1st quarter valued at about $3,346,000. Cetera Advisors LLC lifted its holdings in shares of Coca-Cola FEMSA by 61.9% in the 1st quarter. Cetera Advisors LLC now owns 5,196 shares of the company’s stock worth $505,000 after acquiring an additional 1,987 shares during the last quarter. Bright Futures Wealth Management LLC. purchased a new stake in shares of Coca-Cola FEMSA in the 1st quarter valued at $680,000. CWM LLC grew its holdings in shares of Coca-Cola FEMSA by 49.9% during the 2nd quarter. CWM LLC now owns 853 shares of the company’s stock valued at $73,000 after purchasing an additional 284 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new position in Coca-Cola FEMSA in the 2nd quarter worth $168,000.

Coca-Cola FEMSA Trading Up 1.2 %

NYSE KOF opened at $79.99 on Tuesday. The stock has a market cap of $134.44 billion, a P/E ratio of 13.58, a price-to-earnings-growth ratio of 0.69 and a beta of 0.87. Coca-Cola FEMSA, S.A.B. de C.V. has a fifty-two week low of $77.02 and a fifty-two week high of $104.38. The stock has a 50 day simple moving average of $85.09 and a two-hundred day simple moving average of $87.29. 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 Cuts Dividend

The firm also recently declared a dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, December 6th will be paid a $0.7433 dividend. The ex-dividend date is Friday, December 6th. Coca-Cola FEMSA’s payout ratio is 11.54%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports 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 Coca-Cola FEMSA from a “neutral” rating to a “buy” rating and raised their price target for the stock from $93.00 to $102.00 in a research report on Tuesday, October 29th. Barclays lowered their price objective on 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. Finally, The Goldman Sachs Group upgraded shares of Coca-Cola FEMSA from a “neutral” rating to a “buy” rating in a report on Tuesday, September 3rd. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $103.91.

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.