Cornerstone Capital Inc. Acquires New Position in Coca Cola Femsa S.A.B. de C.V. $KOF

Cornerstone Capital Inc. bought a new position in shares of Coca Cola Femsa S.A.B. de C.V. (NYSE:KOF) during the 2nd quarter, HoldingsChannel.com reports. The fund bought 12,291 shares of the company’s stock, valued at approximately $999,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. Caitong International Asset Management Co. Ltd boosted its position in Coca Cola Femsa by 482.5% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 332 shares of the company’s stock valued at $28,000 after buying an additional 275 shares during the period. Smartleaf Asset Management LLC increased its position in shares of Coca Cola Femsa by 79.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 346 shares of the company’s stock worth $33,000 after acquiring an additional 153 shares during the period. Whipplewood Advisors LLC increased its position in shares of Coca Cola Femsa by 862.2% during the first quarter. Whipplewood Advisors LLC now owns 433 shares of the company’s stock worth $42,000 after acquiring an additional 388 shares during the period. Farther Finance Advisors LLC raised its stake in shares of Coca Cola Femsa by 490.7% in the fourth quarter. Farther Finance Advisors LLC now owns 508 shares of the company’s stock valued at $48,000 after acquiring an additional 422 shares in the last quarter. Finally, Global Retirement Partners LLC raised its stake in shares of Coca Cola Femsa by 138.9% in the fourth quarter. Global Retirement Partners LLC now owns 516 shares of the company’s stock valued at $49,000 after acquiring an additional 300 shares in the last quarter.

Coca Cola Femsa Price Performance

Coca Cola Femsa stock opened at $108.69 on Friday. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.48. The company has a fifty day simple moving average of $106.50 and a 200-day simple moving average of $105.29. The stock has a market cap of $182.67 billion, a P/E ratio of 17.14, a price-to-earnings-growth ratio of 1.33 and a beta of 0.52. 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.

Coca Cola Femsa (NYSE:KOF) last posted its 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 firm had revenue of $4.36 billion for the quarter. Equities analysts expect that Coca Cola Femsa S.A.B. de C.V. will post 6.75 EPS for the current fiscal year.

Coca Cola Femsa Increases Dividend

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

Analyst Upgrades and Downgrades

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

About Coca Cola Femsa

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.