Public Employees Retirement System of Ohio Buys New Shares in Coca-Cola FEMSA, S.A.B. de C.V. (NYSE:KOF)

Public Employees Retirement System of Ohio purchased a new position in Coca-Cola FEMSA, S.A.B. de C.V. (NYSE:KOF - Free Report) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 23,626 shares of the company's stock, valued at approximately $2,096,000.

Several other institutional investors and hedge funds have also recently modified their holdings of KOF. XTX Topco Ltd bought a new stake in Coca-Cola FEMSA during the 3rd quarter valued at approximately $361,000. National Bank of Canada FI boosted its holdings in Coca-Cola FEMSA by 54,847.8% during the 3rd quarter. National Bank of Canada FI now owns 25,276 shares of the company's stock valued at $2,242,000 after acquiring an additional 25,230 shares during the period. Kovitz Investment Group Partners LLC boosted its holdings in Coca-Cola FEMSA by 44.4% during the 3rd quarter. Kovitz Investment Group Partners LLC now owns 9,311 shares of the company's stock valued at $825,000 after acquiring an additional 2,865 shares during the period. Wexford Capital LP lifted its holdings in shares of Coca-Cola FEMSA by 13.8% in the 3rd quarter. Wexford Capital LP now owns 122,930 shares of the company's stock worth $10,906,000 after buying an additional 14,938 shares during the period. Finally, Itau Unibanco Holding S.A. lifted its holdings in shares of 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 worth $68,297,000 after buying an additional 304,197 shares during the period.

Wall Street Analyst Weigh In

KOF has been the subject of several recent research reports. Citigroup raised Coca-Cola FEMSA from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $93.00 to $102.00 in a research report on Tuesday, October 29th. 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 note on Wednesday, October 30th. StockNews.com upgraded Coca-Cola FEMSA from a "buy" rating to a "strong-buy" rating in a research note on Tuesday, November 5th. Finally, The Goldman Sachs Group upgraded Coca-Cola FEMSA from a "neutral" rating to a "buy" rating in a research note on Tuesday, September 3rd. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $104.75.

Coca-Cola FEMSA Price Performance

Shares of NYSE:KOF traded down $3.11 during midday trading on Wednesday, hitting $78.58. The company had a trading volume of 111,482 shares, compared to its average volume of 168,889. Coca-Cola FEMSA, S.A.B. de C.V. has a twelve month low of $77.02 and a twelve month high of $104.38. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.14 and a quick ratio of 0.94. The stock has a market cap of $132.07 billion, a price-to-earnings ratio of 13.34, a price-to-earnings-growth ratio of 0.71 and a beta of 0.84. The business's 50-day simple moving average is $82.30 and its 200-day simple moving average is $85.51.

Coca-Cola FEMSA Cuts Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, December 6th will be paid a dividend of $0.7433 per share. The ex-dividend date is Friday, December 6th. This represents a yield of 3.7%. Coca-Cola FEMSA's dividend payout ratio (DPR) is 11.38%.

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.