Connor Clark & Lunn Investment Management Ltd. Buys 110,926 Shares of Coca-Cola FEMSA, S.A.B. de C.V. (NYSE:KOF)

Connor Clark & Lunn Investment Management Ltd. increased its holdings in Coca-Cola FEMSA, S.A.B. de C.V. (NYSE:KOF - Free Report) by 73.9% during the third quarter, according to 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 quarter. Connor Clark & Lunn Investment Management Ltd.'s holdings in Coca-Cola FEMSA were worth $23,160,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Robeco Institutional Asset Management B.V. boosted its stake in shares of Coca-Cola FEMSA by 1.6% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,068,502 shares of the company's stock worth $94,797,000 after acquiring an additional 17,208 shares in the last quarter. Itau Unibanco Holding S.A. boosted its position in shares of Coca-Cola FEMSA by 13.9% in the 2nd quarter. Itau Unibanco Holding S.A. now owns 508,967 shares of the company's stock valued at $42,025,000 after purchasing an additional 62,282 shares during the period. Natixis Advisors LLC boosted its position in shares of Coca-Cola FEMSA by 4.4% in the 3rd quarter. Natixis Advisors LLC now owns 237,148 shares of the company's stock valued at $21,040,000 after purchasing an additional 9,911 shares during the period. Envestnet Asset Management Inc. increased its stake in Coca-Cola FEMSA by 2.4% in the 2nd quarter. Envestnet Asset Management Inc. now owns 221,697 shares of the company's stock worth $19,030,000 after purchasing an additional 5,166 shares in the last quarter. Finally, Sei Investments Co. lifted its stake in Coca-Cola FEMSA by 7.7% during the second quarter. Sei Investments Co. now owns 167,276 shares of the company's stock valued at $14,359,000 after buying an additional 11,920 shares in the last quarter.

Coca-Cola FEMSA Stock Performance

KOF stock traded up $0.26 during mid-day trading on Thursday, hitting $78.25. The stock had a trading volume of 21,271 shares, compared to its average volume of 169,337. Coca-Cola FEMSA, S.A.B. de C.V. has a 1-year low of $77.02 and a 1-year high of $104.38. The company has a fifty day moving average of $85.59 and a 200 day moving average of $87.80. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.87 and a current ratio of 1.05.

Coca-Cola FEMSA Cuts Dividend

The firm also recently disclosed 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. This represents a yield of 2.6%. The ex-dividend date of this dividend was Monday, October 14th. Coca-Cola FEMSA's payout ratio is presently 11.55%.

Analysts Set New Price Targets

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

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.