Coca-Cola FEMSA, S.A.B. de C.V. (NYSE:KOF) Stake Raised by WCM Investment Management LLC

WCM Investment Management LLC grew its holdings in shares of Coca-Cola FEMSA, S.A.B. de C.V. (NYSE:KOF) by 337.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,974 shares of the company’s stock after purchasing an additional 10,777 shares during the period. WCM Investment Management LLC’s holdings in Coca-Cola FEMSA were worth $1,263,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in the business. Allspring Global Investments Holdings LLC bought a new stake in Coca-Cola FEMSA during the third quarter worth approximately $31,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Coca-Cola FEMSA during the 2nd quarter valued at $32,000. Blue Trust Inc. boosted 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 worth $41,000 after acquiring an additional 397 shares in the last quarter. Hartford Financial Management Inc. grew its holdings in shares of Coca-Cola FEMSA by 42.2% in the 3rd quarter. Hartford Financial Management Inc. now owns 472 shares of the company’s stock worth $42,000 after acquiring an additional 140 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in shares of Coca-Cola FEMSA by 56.2% during the third 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.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Citigroup raised Coca-Cola FEMSA from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $93.00 to $102.00 in a research note on Tuesday, October 29th. 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. Barclays reduced their price target on shares of 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, StockNews.com upgraded shares of Coca-Cola FEMSA from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, November 5th. Seven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $103.91.

Coca-Cola FEMSA Stock Performance

KOF stock opened at $80.45 on Wednesday. The firm has a 50 day simple moving average of $86.50 and a 200 day simple moving average of $88.61. Coca-Cola FEMSA, S.A.B. de C.V. has a 52 week low of $78.35 and a 52 week high of $104.38. The stock has a market cap of $135.21 billion, a P/E ratio of 13.66, a P/E/G ratio of 0.67 and a beta of 0.87. 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 business also recently declared 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. This represents a dividend yield of 2.6%. The ex-dividend date was Monday, October 14th. Coca-Cola FEMSA’s dividend payout ratio is currently 11.54%.

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.