Oppenheimer Asset Management Inc. Acquires 2,390 Shares of Coca-Cola FEMSA, S.A.B. de C.V. (NYSE:KOF)

Oppenheimer Asset Management Inc. raised its holdings in Coca-Cola FEMSA, S.A.B. de C.V. (NYSE:KOF) by 3.7% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 67,623 shares of the company’s stock after acquiring an additional 2,390 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Coca-Cola FEMSA were worth $6,000,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Itau Unibanco Holding S.A. raised its position in shares of Coca-Cola FEMSA by 13.9% during the second quarter. Itau Unibanco Holding S.A. now owns 508,967 shares of the company’s stock worth $42,025,000 after acquiring an additional 62,282 shares during the last quarter. Price T Rowe Associates Inc. MD acquired a new position in shares of Coca-Cola FEMSA in the 1st quarter worth approximately $3,346,000. Quadrature Capital Ltd bought a new stake in shares of Coca-Cola FEMSA in the 1st quarter valued at $4,217,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of Coca-Cola FEMSA during the third quarter worth $31,000. Finally, Marshall Wace LLP bought a new position in Coca-Cola FEMSA during the second quarter worth $7,708,000.

Analyst Ratings Changes

A number of brokerages have weighed in on KOF. Barclays decreased their price target on Coca-Cola FEMSA from $110.00 to $108.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. Citigroup raised Coca-Cola FEMSA from a “neutral” rating to a “buy” rating and raised their target price for the stock from $93.00 to $102.00 in a research note on Tuesday, October 29th. StockNews.com raised Coca-Cola FEMSA from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, November 5th. Finally, The Goldman Sachs Group raised shares of Coca-Cola FEMSA from a “neutral” rating to a “buy” rating in a research report on Tuesday, September 3rd. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $103.91.

Coca-Cola FEMSA Trading Down 0.9 %

KOF opened at $77.50 on Friday. Coca-Cola FEMSA, S.A.B. de C.V. has a fifty-two week low of $77.03 and a fifty-two week high of $104.38. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.87 and a current ratio of 1.05. The company’s 50-day moving average is $86.14 and its 200 day moving average is $88.46.

Coca-Cola FEMSA Cuts Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Friday, October 25th. Stockholders of record on Monday, October 14th were paid a $0.7811 dividend. This represents a dividend yield of 2.6%. The ex-dividend date was Monday, October 14th. Coca-Cola FEMSA’s dividend payout ratio (DPR) is presently 11.55%.

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.