State Street Corp Sells 9,500 Shares of Coca-Cola FEMSA, S.A.B. de C.V. (NYSE:KOF)

State Street Corp lowered its stake in shares of Coca-Cola FEMSA, S.A.B. de C.V. (NYSE:KOF) by 60.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,100 shares of the company’s stock after selling 9,500 shares during the quarter. State Street Corp’s holdings in Coca-Cola FEMSA were worth $541,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. D Orazio & Associates Inc. lifted its position in Coca-Cola FEMSA by 5.4% during the 2nd quarter. D Orazio & Associates Inc. now owns 2,680 shares of the company’s stock valued at $230,000 after purchasing an additional 138 shares during the period. Hartford Financial Management Inc. lifted its holdings in Coca-Cola FEMSA by 42.2% in the third quarter. Hartford Financial Management Inc. now owns 472 shares of the company’s stock valued at $42,000 after buying an additional 140 shares during the period. Chase Investment Counsel Corp boosted its stake in Coca-Cola FEMSA by 4.4% in the second quarter. Chase Investment Counsel Corp now owns 4,595 shares of the company’s stock valued at $394,000 after acquiring an additional 192 shares during the last quarter. GAMMA Investing LLC grew its holdings in Coca-Cola FEMSA by 56.2% during the 3rd quarter. GAMMA Investing LLC now owns 545 shares of the company’s stock worth $48,000 after acquiring an additional 196 shares during the period. Finally, Americana Partners LLC raised its position in shares of Coca-Cola FEMSA by 5.4% during the 3rd quarter. Americana Partners LLC now owns 4,150 shares of the company’s stock valued at $368,000 after acquiring an additional 213 shares during the last quarter.

Wall Street Analyst Weigh In

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

Coca-Cola FEMSA Trading Down 2.1 %

Shares of NYSE:KOF opened at $76.10 on Friday. The business’s 50 day simple moving average is $80.21 and its 200 day simple moving average is $84.63. Coca-Cola FEMSA, S.A.B. de C.V. has a 1 year low of $76.02 and a 1 year high of $104.38. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.14 and a quick ratio of 0.94. The company has a market capitalization of $127.90 billion, a P/E ratio of 12.92, a P/E/G ratio of 0.71 and a beta of 0.83.

Coca-Cola FEMSA Cuts Dividend

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

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.