JPMorgan Chase & Co. Increases Stock Position in Coca-Cola FEMSA, S.A.B. de C.V. (NYSE:KOF)

JPMorgan Chase & Co. raised its holdings in Coca-Cola FEMSA, S.A.B. de C.V. (NYSE:KOF - Free Report) by 90.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 796,574 shares of the company's stock after buying an additional 378,325 shares during the period. JPMorgan Chase & Co.'s holdings in Coca-Cola FEMSA were worth $70,672,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Itau Unibanco Holding S.A. raised its position in Coca-Cola FEMSA by 59.8% in the 3rd quarter. Itau Unibanco Holding S.A. now owns 813,164 shares of the company's stock valued at $68,297,000 after buying an additional 304,197 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in Coca-Cola FEMSA by 73.9% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 261,049 shares of the company's stock worth $23,160,000 after purchasing an additional 110,926 shares during the last quarter. Marshall Wace LLP bought a new position in Coca-Cola FEMSA in the 2nd quarter valued at $7,708,000. Mirabella Financial Services LLP bought a new stake in shares of Coca-Cola FEMSA during the 3rd quarter worth $3,912,000. Finally, Canada Pension Plan Investment Board purchased a new position in shares of Coca-Cola FEMSA in the 2nd quarter worth about $2,515,000.

Analyst Ratings Changes

Several analysts have commented on the stock. Citigroup raised shares of Coca-Cola FEMSA from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $93.00 to $102.00 in a research report on Tuesday, October 29th. StockNews.com raised shares of Coca-Cola FEMSA from a "buy" rating to a "strong-buy" rating in a report on Tuesday, November 5th. Finally, Barclays reduced their price objective on Coca-Cola FEMSA from $110.00 to $108.00 and set an "overweight" rating for the company in a report on Wednesday, October 30th. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $104.75.

Coca-Cola FEMSA Stock Performance

Shares of KOF stock traded down $1.65 during trading on Friday, reaching $76.10. 240,744 shares of the company's stock traded hands, compared to its average volume of 176,222. The company has a market capitalization of $127.90 billion, a P/E ratio of 12.92, a PEG ratio of 0.71 and a beta of 0.83. The firm's 50-day moving average is $80.21 and its 200 day moving average is $84.62. Coca-Cola FEMSA, S.A.B. de C.V. has a 1 year low of $76.02 and a 1 year high of $104.38. The company has a current ratio of 1.14, a quick ratio of 0.94 and a debt-to-equity ratio of 0.47.

Coca-Cola FEMSA Cuts Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Thursday, December 19th. Investors of record on Friday, December 6th were paid a dividend of $0.7433 per share. The ex-dividend date of this dividend was Friday, December 6th. This represents a yield of 3.7%. Coca-Cola FEMSA's dividend payout ratio is currently 11.71%.

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.