TD Private Client Wealth LLC Buys 978 Shares of Coca-Cola FEMSA, S.A.B. de C.V. (NYSE:KOF)

TD Private Client Wealth LLC lifted its position in Coca-Cola FEMSA, S.A.B. de C.V. (NYSE:KOF) by 46.0% during the 3rd quarter, HoldingsChannel reports. The firm owned 3,102 shares of the company’s stock after acquiring an additional 978 shares during the quarter. TD Private Client Wealth LLC’s holdings in Coca-Cola FEMSA were worth $275,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in KOF. Itau Unibanco Holding S.A. increased its stake in Coca-Cola FEMSA by 13.9% in the 2nd 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. Allspring Global Investments Holdings LLC purchased a new position in shares of Coca-Cola FEMSA in the third quarter valued at $31,000. Marshall Wace LLP bought a new stake in Coca-Cola FEMSA in the second quarter worth $7,708,000. Canada Pension Plan Investment Board purchased a new stake in Coca-Cola FEMSA during the second quarter valued at $2,515,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in Coca-Cola FEMSA by 73.9% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 261,049 shares of the company’s stock valued at $23,160,000 after purchasing an additional 110,926 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on KOF shares. StockNews.com upgraded shares of Coca-Cola FEMSA from a “buy” rating to a “strong-buy” rating in a report on Tuesday, November 5th. The Goldman Sachs Group raised Coca-Cola FEMSA from a “neutral” rating to a “buy” rating in a research note on Tuesday, September 3rd. Citigroup raised Coca-Cola FEMSA from a “neutral” rating to a “buy” rating and raised their price objective for the company from $93.00 to $102.00 in a research note on Tuesday, October 29th. Finally, Barclays decreased their price target on Coca-Cola FEMSA from $110.00 to $108.00 and set an “overweight” rating on the stock in a report on Wednesday, October 30th. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Coca-Cola FEMSA currently has a consensus rating of “Buy” and an average target price of $104.75.

Coca-Cola FEMSA Stock Performance

KOF opened at $81.30 on Friday. The company has a quick ratio of 0.94, a current ratio of 1.14 and a debt-to-equity ratio of 0.47. The stock’s 50 day moving average price is $82.54 and its 200-day moving average price is $85.75. Coca-Cola FEMSA, S.A.B. de C.V. has a one year low of $77.02 and a one year high of $104.38.

Coca-Cola FEMSA Cuts Dividend

The firm also recently disclosed a semi-annual dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, December 6th will be given a $0.7433 dividend. This represents a yield of 3.7%. The ex-dividend date is Friday, December 6th. Coca-Cola FEMSA’s dividend payout ratio (DPR) is presently 11.38%.

Coca-Cola FEMSA Profile

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.