Coca-Cola FEMSA, S.A.B. de C.V. (NYSE:KOF) Shares Sold by Lazard Asset Management LLC

Lazard Asset Management LLC cut its stake in Coca-Cola FEMSA, S.A.B. de C.V. (NYSE:KOF) by 18.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 532,130 shares of the company’s stock after selling 118,439 shares during the period. Lazard Asset Management LLC’s holdings in Coca-Cola FEMSA were worth $51,723,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of KOF. Benjamin F. Edwards & Company Inc. acquired a new stake in shares of Coca-Cola FEMSA during the fourth quarter worth $29,000. Hartford Financial Management Inc. raised its holdings in shares of Coca-Cola FEMSA by 40.1% during the fourth quarter. Hartford Financial Management Inc. now owns 395 shares of the company’s stock worth $37,000 after purchasing an additional 113 shares during the period. Parallel Advisors LLC raised its holdings in shares of Coca-Cola FEMSA by 74.9% during the fourth quarter. Parallel Advisors LLC now owns 579 shares of the company’s stock worth $55,000 after purchasing an additional 248 shares during the period. ORG Partners LLC acquired a new stake in shares of Coca-Cola FEMSA during the first quarter worth $63,000. Finally, Tower Research Capital LLC TRC raised its holdings in shares of Coca-Cola FEMSA by 194.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 771 shares of the company’s stock worth $73,000 after purchasing an additional 509 shares during the period.

Coca-Cola FEMSA Price Performance

KOF traded up $2.83 on Friday, reaching $87.75. The company had a trading volume of 211,486 shares, compared to its average volume of 209,253. The company has a fifty day moving average of $88.08 and a 200-day moving average of $93.55. 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, S.A.B. de C.V. has a one year low of $69.33 and a one year high of $104.38.

Coca-Cola FEMSA (NYSE:KOF) last announced its earnings results on Monday, July 22nd. The company reported $1.55 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.55. The firm had revenue of $4.03 billion during the quarter, compared to analyst estimates 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 quarter in the prior year, the firm posted $1.32 EPS. As a group, research analysts expect that Coca-Cola FEMSA, S.A.B. de C.V. will post 6.59 EPS for the current year.

Coca-Cola FEMSA Cuts Dividend

The business also recently announced a semi-annual dividend, which was paid on Friday, July 26th. Investors of record on Monday, July 15th were given a $0.8325 dividend. The ex-dividend date was Monday, July 15th. This represents a yield of 3.7%. Coca-Cola FEMSA’s dividend payout ratio is presently 13.20%.

Analyst Upgrades and Downgrades

KOF has been the topic of a number of research reports. StockNews.com raised shares of Coca-Cola FEMSA from a “buy” rating to a “strong-buy” rating in a report on Wednesday, April 17th. JPMorgan Chase & Co. upped their price target on shares of Coca-Cola FEMSA from $102.00 to $107.00 and gave the stock an “overweight” rating in a research report on Friday, April 12th. Scotiabank upgraded shares of Coca-Cola FEMSA from a “sector perform” rating to a “sector outperform” rating in a research report on Friday, April 12th. Barclays lowered their price target on shares of Coca-Cola FEMSA from $115.00 to $105.00 and set an “overweight” rating for the company in a research report on Monday, July 15th. Finally, UBS Group lowered their price target on shares of Coca-Cola FEMSA from $112.00 to $102.00 and set a “buy” rating for the company in a research report on Wednesday, July 10th. Two research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Coca-Cola FEMSA has an average rating of “Moderate Buy” and an average target price of $99.55.

About Coca-Cola FEMSA

Coca-Cola FEMSA, SAB. de C.V., a franchise bottler, produces, markets, sells, and distributes Coca-Cola trademark beverages. The company offers sparkling beverages, including colas and flavored sparkling beverages; and waters and other beverages, such as juice drinks, coffee, teas, milk, value-added dairy products, sports and energy drinks, alcoholic beverages, and plant-based drinks.