JPMorgan Chase & Co. Buys 378,325 Shares of Coca-Cola FEMSA, S.A.B. de C.V. (NYSE:KOF)

JPMorgan Chase & Co. increased its stake in Coca-Cola FEMSA, S.A.B. de C.V. (NYSE:KOF) by 90.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 796,574 shares of the company’s stock after purchasing an additional 378,325 shares during the period. JPMorgan Chase & Co.’s holdings in Coca-Cola FEMSA were worth $70,672,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Itau Unibanco Holding S.A. raised its position in shares of Coca-Cola FEMSA by 59.8% in the 3rd quarter. Itau Unibanco Holding S.A. now owns 813,164 shares of the company’s stock valued at $68,297,000 after buying an additional 304,197 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted 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 worth $23,160,000 after purchasing an additional 110,926 shares during the last quarter. Marshall Wace LLP bought a new position in shares of Coca-Cola FEMSA in the 2nd quarter valued at $7,708,000. Mirabella Financial Services LLP acquired a new position in shares of Coca-Cola FEMSA during the 3rd quarter worth $3,912,000. Finally, Canada Pension Plan Investment Board bought a new stake in shares of Coca-Cola FEMSA during the 2nd quarter worth $2,515,000.

Coca-Cola FEMSA Stock Performance

NYSE KOF opened at $76.10 on Friday. The company has a market capitalization of $127.90 billion, a price-to-earnings ratio of 12.92, a PEG ratio of 0.71 and a beta of 0.83. Coca-Cola FEMSA, S.A.B. de C.V. has a twelve month low of $76.02 and a twelve month high of $104.38. The stock has a fifty day simple moving average of $80.21 and a 200 day simple moving average of $84.63. The company has a quick ratio of 0.94, a current ratio of 1.14 and a debt-to-equity ratio of 0.47.

Coca-Cola FEMSA Cuts Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Thursday, December 19th. Investors of record on Friday, December 6th were paid a $0.7433 dividend. This represents a dividend yield of 3.7%. The ex-dividend date of this dividend was Friday, December 6th. Coca-Cola FEMSA’s dividend payout ratio is currently 11.71%.

Analyst Ratings Changes

A number of research analysts have recently commented on KOF shares. Barclays dropped their target price on shares of Coca-Cola FEMSA from $110.00 to $108.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. Citigroup upgraded shares of Coca-Cola FEMSA from a “neutral” rating to a “buy” rating and upped their price target for the stock from $93.00 to $102.00 in a report on Tuesday, October 29th. Finally, StockNews.com upgraded Coca-Cola FEMSA from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, November 5th. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Coca-Cola FEMSA has a consensus rating of “Buy” and an average price target of $104.75.

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.