Ritholtz Wealth Management Lowers Position in Coca-Cola FEMSA, S.A.B. de C.V. (NYSE:KOF)

Ritholtz Wealth Management reduced its stake in Coca-Cola FEMSA, S.A.B. de C.V. (NYSE:KOF) by 12.4% during the third quarter, HoldingsChannel.com reports. The fund owned 30,068 shares of the company’s stock after selling 4,237 shares during the quarter. Ritholtz Wealth Management’s holdings in Coca-Cola FEMSA were worth $2,668,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. D Orazio & Associates Inc. grew its stake in shares of Coca-Cola FEMSA by 5.4% in the 2nd quarter. D Orazio & Associates Inc. now owns 2,680 shares of the company’s stock worth $230,000 after buying an additional 138 shares in the last quarter. Park Avenue Securities LLC increased its stake in Coca-Cola FEMSA by 4.4% during the first quarter. Park Avenue Securities LLC now owns 3,649 shares of the company’s stock worth $355,000 after acquiring an additional 153 shares during the last quarter. Chase Investment Counsel Corp raised its position in Coca-Cola FEMSA by 3.6% during the first quarter. Chase Investment Counsel Corp now owns 4,403 shares of the company’s stock valued at $427,000 after purchasing an additional 154 shares during the period. Claro Advisors LLC lifted its stake in shares of Coca-Cola FEMSA by 5.7% in the 1st quarter. Claro Advisors LLC now owns 3,169 shares of the company’s stock valued at $308,000 after purchasing an additional 172 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in shares of Coca-Cola FEMSA by 56.2% in the 3rd quarter. GAMMA Investing LLC now owns 545 shares of the company’s stock worth $48,000 after purchasing an additional 196 shares during the period.

Analyst Upgrades and Downgrades

KOF has been the topic of several recent research reports. UBS Group decreased their price target 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. Barclays increased their target price on shares of Coca-Cola FEMSA from $105.00 to $110.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Finally, The Goldman Sachs Group raised shares of Coca-Cola FEMSA from a “neutral” rating to a “buy” rating in a research note on Tuesday, September 3rd. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $101.91.

Coca-Cola FEMSA Stock Up 0.2 %

NYSE:KOF opened at $87.19 on Friday. The company has a market cap of $146.54 billion, a price-to-earnings ratio of 15.35, a price-to-earnings-growth ratio of 0.71 and a beta of 0.86. Coca-Cola FEMSA, S.A.B. de C.V. has a twelve month low of $69.33 and a twelve month high of $104.38. The stock has a fifty day simple moving average of $87.89 and a 200-day simple moving average of $90.38. The company has a current ratio of 1.05, a quick ratio of 0.87 and a debt-to-equity ratio of 0.51.

Coca-Cola FEMSA (NYSE:KOF) last issued its earnings results on Monday, July 22nd. The company reported $1.55 EPS for the quarter, hitting analysts’ consensus estimates of $1.55. The business had revenue of $4.03 billion for the quarter, compared to the consensus estimate of $3.76 billion. Coca-Cola FEMSA had a net margin of 8.16% and a return on equity of 16.23%. During the same period in the prior year, the firm earned $1.32 EPS. Analysts anticipate that Coca-Cola FEMSA, S.A.B. de C.V. will post 6.28 EPS for the current year.

Coca-Cola FEMSA Cuts Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Friday, October 25th. Stockholders of record on Monday, October 14th will be given a $0.7811 dividend. The ex-dividend date is Monday, October 14th. This represents a dividend yield of 2.6%. Coca-Cola FEMSA’s payout ratio is presently 12.32%.

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.