Convergence Financial LLC Purchases New Holdings in Coca Cola Femsa S.A.B. de C.V. $KOF

Convergence Financial LLC purchased a new stake in Coca Cola Femsa S.A.B. de C.V. (NYSE:KOF) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 2,212 shares of the company’s stock, valued at approximately $214,000.

Other institutional investors have also recently made changes to their positions in the company. Bruce G. Allen Investments LLC acquired a new stake in shares of Coca Cola Femsa in the 2nd quarter valued at approximately $44,000. CWM LLC increased its holdings in Coca Cola Femsa by 19.7% during the second quarter. CWM LLC now owns 722 shares of the company’s stock worth $70,000 after buying an additional 119 shares during the last quarter. Ballentine Partners LLC bought a new stake in Coca Cola Femsa during the first quarter worth $204,000. NewEdge Advisors LLC lifted its stake in Coca Cola Femsa by 230,700.0% in the first quarter. NewEdge Advisors LLC now owns 2,308 shares of the company’s stock valued at $211,000 after acquiring an additional 2,307 shares during the last quarter. Finally, West Family Investments Inc. acquired a new stake in Coca Cola Femsa in the first quarter valued at $222,000.

Coca Cola Femsa Trading Up 3.2%

Shares of NYSE:KOF opened at $88.53 on Thursday. Coca Cola Femsa S.A.B. de C.V. has a 12-month low of $72.68 and a 12-month high of $101.74. The business has a 50 day moving average of $84.42 and a 200-day moving average of $89.13. The company has a quick ratio of 0.90, a current ratio of 1.10 and a debt-to-equity ratio of 0.50. The stock has a market cap of $148.79 billion, a PE ratio of 15.42, a P/E/G ratio of 1.08 and a beta of 0.61.

Coca Cola Femsa (NYSE:KOF) last announced its earnings results on Friday, October 24th. The company reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates of $1.48 by $0.03. The company had revenue of $3.88 billion for the quarter, compared to analyst estimates of $3.96 billion. Coca Cola Femsa had a return on equity of 15.79% and a net margin of 8.13%. As a group, equities research analysts forecast that Coca Cola Femsa S.A.B. de C.V. will post 5.7 earnings per share for the current year.

Coca Cola Femsa Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, October 27th. Stockholders of record on Tuesday, October 14th were issued a dividend of $1.0006 per share. This is an increase from Coca Cola Femsa’s previous quarterly dividend of $0.87. This represents a $4.00 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date of this dividend was Tuesday, October 14th. Coca Cola Femsa’s payout ratio is 62.54%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on KOF shares. JPMorgan Chase & Co. lowered their price objective on shares of Coca Cola Femsa from $110.00 to $105.00 and set a “neutral” rating on the stock in a research note on Monday, September 15th. Wall Street Zen upgraded Coca Cola Femsa from a “hold” rating to a “buy” rating in a report on Saturday, November 1st. Weiss Ratings lowered Coca Cola Femsa from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, October 8th. Barclays cut their price objective on Coca Cola Femsa from $100.00 to $98.00 and set an “overweight” rating for the company in a research report on Monday. Finally, Zacks Research lowered Coca Cola Femsa from a “hold” rating to a “strong sell” rating in a report on Wednesday, September 24th. Three investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $105.33.

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.