ABS Direct Equity Fund LLC Takes $1 Million Position in Coca-Cola FEMSA, S.A.B. de C.V. (NYSE:KOF)

ABS Direct Equity Fund LLC purchased a new position in shares of Coca-Cola FEMSA, S.A.B. de C.V. (NYSE:KOF) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 11,300 shares of the company’s stock, valued at approximately $1,003,000.

Other institutional investors have also added to or reduced their stakes in the company. D Orazio & Associates Inc. lifted its position in shares of Coca-Cola FEMSA by 5.4% during the 2nd quarter. D Orazio & Associates Inc. now owns 2,680 shares of the company’s stock worth $230,000 after buying an additional 138 shares in the last quarter. Hartford Financial Management Inc. lifted its holdings in Coca-Cola FEMSA by 42.2% during the third quarter. Hartford Financial Management Inc. now owns 472 shares of the company’s stock worth $42,000 after acquiring an additional 140 shares during the period. Chase Investment Counsel Corp boosted its position 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 worth $415,000 after purchasing an additional 192 shares during the last quarter. GAMMA Investing LLC boosted its position in Coca-Cola FEMSA by 56.2% in the third quarter. GAMMA Investing LLC now owns 545 shares of the company’s stock worth $48,000 after purchasing an additional 196 shares during the last quarter. Finally, Americana Partners LLC grew its stake in Coca-Cola FEMSA by 5.4% in the 3rd quarter. Americana Partners LLC now owns 4,150 shares of the company’s stock valued at $368,000 after purchasing an additional 213 shares during the period.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on KOF. Barclays lowered their target price on Coca-Cola FEMSA from $110.00 to $108.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. Citigroup raised shares of Coca-Cola FEMSA from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $93.00 to $102.00 in a research report on Tuesday, October 29th. The Goldman Sachs Group raised shares of Coca-Cola FEMSA from a “neutral” rating to a “buy” rating in a research report on Tuesday, September 3rd. Finally, StockNews.com raised shares of 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $104.75.

Coca-Cola FEMSA Price Performance

Shares of Coca-Cola FEMSA stock opened at $82.35 on Tuesday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.94 and a current ratio of 1.14. Coca-Cola FEMSA, S.A.B. de C.V. has a 52-week low of $77.02 and a 52-week high of $104.38. The stock’s 50-day simple moving average is $83.14 and its 200 day simple moving average is $86.06.

Coca-Cola FEMSA Cuts Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, December 6th will be paid a dividend of $0.7433 per share. This represents a dividend yield of 3.7%. The ex-dividend date of this dividend is Friday, December 6th. Coca-Cola FEMSA’s payout ratio is currently 11.38%.

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.