Short Interest in Coca-Cola FEMSA, S.A.B. de C.V. (NYSE:KOF) Drops By 6.2%

Coca-Cola FEMSA, S.A.B. de C.V. (NYSE:KOF) was the recipient of a large decline in short interest in October. As of October 15th, there was short interest totalling 694,700 shares, a decline of 6.2% from the September 30th total of 741,000 shares. Based on an average daily volume of 180,500 shares, the short-interest ratio is presently 3.8 days. Approximately 1.4% of the company’s shares are short sold.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. StockNews.com downgraded shares of Coca-Cola FEMSA from a “strong-buy” rating to a “buy” rating in a research note on Monday, October 28th. UBS Group cut their price objective on shares of Coca-Cola FEMSA from $112.00 to $102.00 and set a “buy” rating on the stock in a report on Wednesday, July 10th. Citigroup raised Coca-Cola FEMSA from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $93.00 to $102.00 in a research report on Tuesday. 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. Finally, The Goldman Sachs Group raised Coca-Cola FEMSA from a “neutral” rating to a “buy” rating in a research report on Tuesday, September 3rd. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $103.91.

Coca-Cola FEMSA Stock Down 2.4 %

NYSE KOF opened at $81.38 on Friday. Coca-Cola FEMSA has a one year low of $76.74 and a one year high of $104.38. The stock has a 50-day moving average of $87.08 and a 200 day moving average of $89.34. 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 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 issued a dividend of $0.7811 per share. The ex-dividend date was Monday, October 14th. This represents a dividend yield of 2.6%. Coca-Cola FEMSA’s payout ratio is 11.55%.

Institutional Investors Weigh In On Coca-Cola FEMSA

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC bought a new position in shares of Coca-Cola FEMSA during the 3rd quarter valued at $31,000. Ashton Thomas Private Wealth LLC bought a new position in Coca-Cola FEMSA in the second quarter valued at about $32,000. Hartford Financial Management Inc. boosted its position in Coca-Cola FEMSA by 42.2% in the third quarter. Hartford Financial Management Inc. now owns 472 shares of the company’s stock worth $42,000 after purchasing an additional 140 shares during the last quarter. Blue Trust Inc. grew its stake in shares of Coca-Cola FEMSA by 490.1% during the 2nd quarter. Blue Trust Inc. now owns 478 shares of the company’s stock valued at $41,000 after purchasing an additional 397 shares during the period. Finally, GAMMA Investing LLC increased its position in shares of Coca-Cola FEMSA by 56.2% during the 3rd quarter. GAMMA Investing LLC now owns 545 shares of the company’s stock valued at $48,000 after purchasing an additional 196 shares during the last quarter.

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.