Itau Unibanco Holding S.A. Purchases 304,197 Shares of Coca-Cola FEMSA, S.A.B. de C.V. (NYSE:KOF)

Itau Unibanco Holding S.A. boosted its position in Coca-Cola FEMSA, S.A.B. de C.V. (NYSE:KOF) by 59.8% during the third quarter, Holdings Channel reports. The fund owned 813,164 shares of the company’s stock after acquiring an additional 304,197 shares during the period. Coca-Cola FEMSA comprises 2.2% of Itau Unibanco Holding S.A.’s holdings, making the stock its 14th biggest holding. Itau Unibanco Holding S.A.’s holdings in Coca-Cola FEMSA were worth $68,297,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Price T Rowe Associates Inc. MD bought a new stake in shares of Coca-Cola FEMSA in the 1st quarter worth about $3,346,000. Allspring Global Investments Holdings LLC purchased a new position in Coca-Cola FEMSA during the third quarter valued at $31,000. Marshall Wace LLP acquired a new stake in Coca-Cola FEMSA during the second quarter worth about $7,708,000. Canada Pension Plan Investment Board acquired a new position in shares of Coca-Cola FEMSA in the second quarter valued at approximately $2,515,000. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in Coca-Cola FEMSA by 73.9% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 261,049 shares of the company’s stock worth $23,160,000 after acquiring an additional 110,926 shares in the last quarter.

Coca-Cola FEMSA Price Performance

NYSE KOF opened at $80.59 on Tuesday. Coca-Cola FEMSA, S.A.B. de C.V. has a 1 year low of $77.02 and a 1 year high of $104.38. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.87 and a current ratio of 1.05. The company has a fifty day moving average of $84.17 and a 200 day moving average of $86.70.

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 paid a $0.7433 dividend. The ex-dividend date is Friday, December 6th. This represents a yield of 3.7%. Coca-Cola FEMSA’s dividend payout ratio is presently 11.55%.

Wall Street Analysts Forecast Growth

KOF has been the subject of several recent research reports. The Goldman Sachs Group upgraded shares of Coca-Cola FEMSA from a “neutral” rating to a “buy” rating in a report on Tuesday, September 3rd. 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 research note on Wednesday, October 30th. Citigroup upgraded Coca-Cola FEMSA from a “neutral” rating to a “buy” rating and increased their target price for the stock from $93.00 to $102.00 in a report on Tuesday, October 29th. Finally, StockNews.com raised Coca-Cola FEMSA from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, November 5th. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Coca-Cola FEMSA presently has a consensus rating of “Buy” and an average target price of $103.91.

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.