Coca Cola Femsa (NYSE:KOF) Releases Quarterly Earnings Results, Beats Estimates By $0.03 EPS

Coca Cola Femsa (NYSE:KOF) released its earnings results on Friday. The company reported $1.51 EPS for the quarter, topping the consensus estimate of $1.48 by $0.03, Zacks reports. Coca Cola Femsa had a net margin of 8.19% and a return on equity of 15.81%. The firm had revenue of $3.88 billion for the quarter, compared to the consensus estimate of $3.96 billion.

Coca Cola Femsa Price Performance

Coca Cola Femsa stock opened at $87.01 on Friday. The company has a market cap of $146.24 billion, a price-to-earnings ratio of 15.16, a PEG ratio of 1.10 and a beta of 0.62. The firm’s fifty day moving average is $84.18 and its 200 day moving average is $89.62. The company has a quick ratio of 0.90, a current ratio of 1.12 and a debt-to-equity ratio of 0.54. Coca Cola Femsa has a 52-week low of $72.68 and a 52-week high of $101.74.

Coca Cola Femsa Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 27th. Investors of record on Tuesday, October 14th will be paid a dividend of $1.0006 per share. The ex-dividend date of this dividend is Tuesday, October 14th. This is a positive change from Coca Cola Femsa’s previous quarterly dividend of $0.87. This represents a $4.00 dividend on an annualized basis and a yield of 4.6%. Coca Cola Femsa’s payout ratio is currently 63.05%.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. UBS Group boosted their target price on shares of Coca Cola Femsa from $109.00 to $113.00 and gave the stock a “buy” rating in a report on Tuesday, July 8th. Wall Street Zen downgraded shares of Coca Cola Femsa from a “buy” rating to a “hold” rating in a report on Sunday, July 13th. JPMorgan Chase & Co. lowered their target price on shares of Coca Cola Femsa from $110.00 to $105.00 and set a “neutral” rating on the stock in a report on Monday, September 15th. Zacks Research downgraded shares of Coca Cola Femsa from a “hold” rating to a “strong sell” rating in a report on Wednesday, September 24th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Coca Cola Femsa in a report on Friday. Four equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $105.00.

Institutional Investors Weigh In On Coca Cola Femsa

A number of hedge funds have recently bought and sold shares of the business. Bank of America Corp DE raised its stake in Coca Cola Femsa by 87.4% during the second quarter. Bank of America Corp DE now owns 589,519 shares of the company’s stock valued at $57,024,000 after purchasing an additional 274,894 shares in the last quarter. Qube Research & Technologies Ltd raised its stake in shares of Coca Cola Femsa by 11.9% in the second quarter. Qube Research & Technologies Ltd now owns 121,761 shares of the company’s stock valued at $11,778,000 after acquiring an additional 12,979 shares during the period. Raymond James Financial Inc. raised its stake in shares of Coca Cola Femsa by 163.7% in the second quarter. Raymond James Financial Inc. now owns 70,936 shares of the company’s stock valued at $6,862,000 after acquiring an additional 44,039 shares during the period. Sei Investments Co. raised its stake in shares of Coca Cola Femsa by 11.9% in the second quarter. Sei Investments Co. now owns 32,038 shares of the company’s stock valued at $3,099,000 after acquiring an additional 3,411 shares during the period. Finally, Squarepoint Ops LLC raised its stake in shares of Coca Cola Femsa by 106.5% in the second quarter. Squarepoint Ops LLC now owns 8,920 shares of the company’s stock valued at $863,000 after acquiring an additional 4,600 shares during the period.

About Coca Cola Femsa

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.