Summit Global Investments Lowers Stake in Coca-Cola FEMSA, S.A.B. de C.V. (NYSE:KOF)

Summit Global Investments reduced its holdings in shares of Coca-Cola FEMSA, S.A.B. de C.V. (NYSE:KOF - Free Report) by 51.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,126 shares of the company's stock after selling 24,561 shares during the quarter. Summit Global Investments' holdings in Coca-Cola FEMSA were worth $1,801,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in KOF. SBI Securities Co. Ltd. acquired a new stake in shares of Coca-Cola FEMSA in the fourth quarter valued at approximately $29,000. Steward Partners Investment Advisory LLC grew its holdings in Coca-Cola FEMSA by 1,388.9% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 402 shares of the company's stock valued at $31,000 after buying an additional 375 shares during the last quarter. Whipplewood Advisors LLC purchased a new position in Coca-Cola FEMSA during the fourth quarter worth $70,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Coca-Cola FEMSA in the third quarter worth $71,000. Finally, Jones Financial Companies Lllp lifted its position in shares of Coca-Cola FEMSA by 111.3% in the fourth quarter. Jones Financial Companies Lllp now owns 1,585 shares of the company's stock valued at $123,000 after acquiring an additional 835 shares in the last quarter.

Wall Street Analyst Weigh In

A number of research firms recently commented on KOF. Barclays lifted their price objective on Coca-Cola FEMSA from $99.00 to $105.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 4th. StockNews.com upgraded shares of Coca-Cola FEMSA from a "buy" rating to a "strong-buy" rating in a report on Tuesday. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $104.00.

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Coca-Cola FEMSA Trading Up 0.4 %

Coca-Cola FEMSA stock traded up $0.39 during trading on Thursday, hitting $91.32. The company's stock had a trading volume of 138,609 shares, compared to its average volume of 171,517. The stock's fifty day moving average is $83.53 and its 200 day moving average is $83.02. Coca-Cola FEMSA, S.A.B. de C.V. has a 1-year low of $72.68 and a 1-year high of $102.28. The stock has a market capitalization of $153.47 billion, a price-to-earnings ratio of 15.50, a P/E/G ratio of 0.62 and a beta of 0.79. 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 (NYSE:KOF - Get Free Report) last announced its quarterly earnings data on Friday, February 21st. The company reported $1.73 earnings per share for the quarter, topping the consensus estimate of $1.51 by $0.22. Coca-Cola FEMSA had a net margin of 8.12% and a return on equity of 15.99%. The business had revenue of $3.76 billion for the quarter, compared to analyst estimates of $3.49 billion. As a group, equities research analysts predict that Coca-Cola FEMSA, S.A.B. de C.V. will post 5.7 EPS for the current year.

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.