Summit Global Investments Invests $4.92 Million in Coca Cola Femsa S.A.B. de C.V. $KOF

Summit Global Investments purchased a new position in shares of Coca Cola Femsa S.A.B. de C.V. (NYSE:KOF) during the second quarter, HoldingsChannel.com reports. The institutional investor purchased 60,553 shares of the company’s stock, valued at approximately $4,921,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Parallel Advisors LLC raised its stake in Coca Cola Femsa by 19.1% during the 4th quarter. Parallel Advisors LLC now owns 616 shares of the company’s stock valued at $58,000 after acquiring an additional 99 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in Coca Cola Femsa by 8.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,371 shares of the company’s stock worth $134,000 after acquiring an additional 101 shares during the period. Kathmere Capital Management LLC grew its stake in shares of Coca Cola Femsa by 1.5% in the 1st quarter. Kathmere Capital Management LLC now owns 7,459 shares of the company’s stock valued at $728,000 after purchasing an additional 112 shares during the last quarter. Vise Technologies Inc. grew its stake in shares of Coca Cola Femsa by 0.6% in the 4th quarter. Vise Technologies Inc. now owns 23,877 shares of the company’s stock valued at $2,261,000 after purchasing an additional 150 shares during the last quarter. Finally, Vident Advisory LLC grew its stake in shares of Coca Cola Femsa by 2.4% in the 4th quarter. Vident Advisory LLC now owns 6,498 shares of the company’s stock valued at $615,000 after purchasing an additional 152 shares during the last quarter.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Barclays upped their price target on Coca Cola Femsa from $115.00 to $122.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 29th. UBS Group lifted their price objective on shares of Coca Cola Femsa from $110.00 to $113.00 and gave the company a “neutral” rating in a research report on Monday, August 3rd. HSBC reissued a “hold” rating and issued a $116.00 price objective on shares of Coca Cola Femsa in a research note on Tuesday, July 28th. Weiss Ratings upgraded shares of Coca Cola Femsa from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, May 29th. Finally, JPMorgan Chase & Co. raised their target price on shares of Coca Cola Femsa from $114.00 to $127.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 15th. Four analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $118.83.

Coca Cola Femsa Stock Performance

Shares of KOF stock opened at $108.69 on Friday. The company has a market cap of $182.67 billion, a price-to-earnings ratio of 17.14, a price-to-earnings-growth ratio of 1.33 and a beta of 0.52. The stock has a 50 day simple moving average of $106.50 and a 200-day simple moving average of $105.29. Coca Cola Femsa S.A.B. de C.V. has a 12-month low of $80.22 and a 12-month high of $116.36. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.48.

Coca Cola Femsa (NYSE:KOF) last posted its quarterly earnings results on Wednesday, July 1st. The company reported $1.69 EPS for the quarter. Coca Cola Femsa had a return on equity of 15.83% and a net margin of 8.05%.The business had revenue of $4.36 billion during the quarter. On average, equities analysts forecast that Coca Cola Femsa S.A.B. de C.V. will post 6.75 EPS for the current year.

Coca Cola Femsa Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 24th. Shareholders of record on Monday, July 13th were given a $1.1248 dividend. The ex-dividend date was Monday, July 13th. This is a positive change from Coca Cola Femsa’s previous quarterly dividend of $1.09. This represents a $4.50 annualized dividend and a yield of 4.1%. Coca Cola Femsa’s dividend payout ratio (DPR) is currently 62.15%.

Coca Cola Femsa Profile

Coca‑Cola FEMSA (NYSE: KOF) is a large multinational beverage bottler and distributor operating primarily in Mexico and across multiple markets in Latin America. As a principal franchise bottler for The Coca‑Cola Company, the firm is responsible for producing, packaging, marketing and distributing Coca‑Cola branded beverages and a wide range of nonalcoholic drinks to retail and foodservice customers throughout its territories.

The company’s product portfolio includes carbonated soft drinks, bottled water, juices, ready‑to‑drink teas and coffees, sports and energy drinks, and other noncarbonated beverages.