Connor Clark & Lunn Investment Management Ltd. Has $23.16 Million Stock Holdings in Coca-Cola FEMSA, S.A.B. de C.V. (NYSE:KOF)

Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Coca-Cola FEMSA, S.A.B. de C.V. (NYSE:KOF) by 73.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 261,049 shares of the company’s stock after purchasing an additional 110,926 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Coca-Cola FEMSA were worth $23,160,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the business. Itau Unibanco Holding S.A. lifted its stake in Coca-Cola FEMSA by 13.9% in the second quarter. Itau Unibanco Holding S.A. now owns 508,967 shares of the company’s stock valued at $42,025,000 after buying an additional 62,282 shares during the period. Price T Rowe Associates Inc. MD bought a new stake in shares of Coca-Cola FEMSA in the 1st quarter valued at $3,346,000. Quadrature Capital Ltd acquired a new position in shares of Coca-Cola FEMSA during the 1st quarter valued at $4,217,000. Allspring Global Investments Holdings LLC bought a new position in Coca-Cola FEMSA during the third quarter worth $31,000. Finally, Marshall Wace LLP acquired a new stake in Coca-Cola FEMSA in the second quarter worth $7,708,000.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on KOF shares. Citigroup raised shares of Coca-Cola FEMSA from a “neutral” rating to a “buy” rating and lifted their price target for the company from $93.00 to $102.00 in a research note on Tuesday, October 29th. Barclays decreased their target price on Coca-Cola FEMSA from $110.00 to $108.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. StockNews.com upgraded Coca-Cola FEMSA from a “buy” rating to a “strong-buy” rating in a report on Tuesday, November 5th. Finally, The Goldman Sachs Group raised Coca-Cola FEMSA from a “neutral” rating to a “buy” rating in a research note on Tuesday, September 3rd. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $103.91.

Coca-Cola FEMSA Price Performance

Shares of NYSE KOF opened at $77.99 on Thursday. 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 firm’s 50-day simple moving average is $85.59 and its 200 day simple moving average is $87.80. The stock has a market cap of $131.08 billion, a price-to-earnings ratio of 13.24, a PEG ratio of 0.70 and a beta of 0.87. Coca-Cola FEMSA, S.A.B. de C.V. has a fifty-two week low of $77.02 and a fifty-two week high of $104.38.

Coca-Cola FEMSA Cuts Dividend

The business also recently announced a semi-annual dividend, which was paid on Friday, October 25th. Investors of record on Monday, October 14th were given a dividend of $0.7811 per share. The ex-dividend date was Monday, October 14th. This represents a dividend yield of 2.6%. Coca-Cola FEMSA’s payout ratio is 11.54%.

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.