Renaissance Group LLC Sells 3,040 Shares of Coca Cola Femsa S.A.B. de C.V. $KOF

Renaissance Group LLC trimmed its position in Coca Cola Femsa S.A.B. de C.V. (NYSE:KOF) by 12.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,193 shares of the company’s stock after selling 3,040 shares during the period. Renaissance Group LLC’s holdings in Coca Cola Femsa were worth $2,147,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in KOF. Bruce G. Allen Investments LLC bought a new stake in shares of Coca Cola Femsa during the 2nd quarter valued at $44,000. CWM LLC lifted its position in Coca Cola Femsa by 19.7% during the 2nd quarter. CWM LLC now owns 722 shares of the company’s stock valued at $70,000 after acquiring an additional 119 shares during the period. Convergence Financial LLC bought a new stake in Coca Cola Femsa during the second quarter worth about $214,000. NewEdge Advisors LLC grew its holdings 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 worth $211,000 after purchasing an additional 2,307 shares during the period. Finally, Ballentine Partners LLC grew its holdings in Coca Cola Femsa by 7.7% in the second quarter. Ballentine Partners LLC now owns 2,413 shares of the company’s stock worth $233,000 after purchasing an additional 173 shares during the period.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on KOF. Zacks Research raised Coca Cola Femsa from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 11th. Weiss Ratings cut Coca Cola Femsa from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, October 8th. Barclays dropped their target price on Coca Cola Femsa from $100.00 to $98.00 and set an “overweight” rating on the stock in a report on Monday, November 3rd. UBS Group lowered their price target on Coca Cola Femsa from $113.00 to $109.00 and set a “buy” rating for the company in a research report on Wednesday, November 12th. Finally, Wall Street Zen upgraded shares of Coca Cola Femsa from a “hold” rating to a “buy” rating in a research note on Monday. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $104.00.

Coca Cola Femsa Price Performance

NYSE KOF opened at $87.87 on Thursday. Coca Cola Femsa S.A.B. de C.V. has a one year low of $72.68 and a one year high of $101.74. The stock has a 50-day moving average of $85.34 and a 200 day moving average of $88.63. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.90 and a current ratio of 1.10. The company has a market capitalization of $147.67 billion, a price-to-earnings ratio of 15.31, a PEG ratio of 1.08 and a beta of 0.61.

Coca Cola Femsa (NYSE:KOF) last posted its earnings results on Friday, October 24th. The company reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.48 by $0.03. Coca Cola Femsa had a net margin of 8.13% and a return on equity of 15.79%. The business had revenue of $3.88 billion for the quarter, compared to analysts’ expectations of $3.96 billion. On average, sell-side analysts forecast that Coca Cola Femsa S.A.B. de C.V. will post 5.7 EPS for the current year.

Coca Cola Femsa Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, October 27th. Shareholders of record on Tuesday, October 14th were given a $1.0006 dividend. This is a boost from Coca Cola Femsa’s previous quarterly dividend of $0.87. The ex-dividend date of this dividend was Tuesday, October 14th. This represents a $4.00 dividend on an annualized basis and a yield of 4.6%. Coca Cola Femsa’s payout ratio is presently 62.54%.

Coca Cola Femsa Company 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.