Advisors Asset Management Inc. Sells 2,264 Shares of Coca-Cola FEMSA, S.A.B. de C.V. (NYSE:KOF)

Advisors Asset Management Inc. lowered its stake in shares of Coca-Cola FEMSA, S.A.B. de C.V. (NYSE:KOF) by 12.0% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 16,628 shares of the company’s stock after selling 2,264 shares during the quarter. Advisors Asset Management Inc.’s holdings in Coca-Cola FEMSA were worth $1,475,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Itau Unibanco Holding S.A. raised its stake in shares of Coca-Cola FEMSA by 13.9% in the second quarter. Itau Unibanco Holding S.A. now owns 508,967 shares of the company’s stock valued at $42,025,000 after buying an additional 62,282 shares during the period. Price T Rowe Associates Inc. MD purchased a new stake in Coca-Cola FEMSA in the 1st quarter worth about $3,346,000. Allspring Global Investments Holdings LLC bought a new stake in Coca-Cola FEMSA in the 3rd quarter valued at about $31,000. Marshall Wace LLP purchased a new stake in Coca-Cola FEMSA during the second quarter valued at about $7,708,000. Finally, Canada Pension Plan Investment Board bought a new position in Coca-Cola FEMSA during the second quarter worth about $2,515,000.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Citigroup upgraded shares of Coca-Cola FEMSA from a “neutral” rating to a “buy” rating and upped their price target for the company from $93.00 to $102.00 in a research note on Tuesday, October 29th. The Goldman Sachs Group raised Coca-Cola FEMSA from a “neutral” rating to a “buy” rating in a report on Tuesday, September 3rd. Barclays decreased their price objective 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. Finally, StockNews.com upgraded Coca-Cola FEMSA from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, November 5th. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $103.91.

Coca-Cola FEMSA Price Performance

Coca-Cola FEMSA stock opened at $79.99 on Tuesday. The stock has a market cap of $134.44 billion, a price-to-earnings ratio of 13.58, a PEG ratio of 0.69 and a beta of 0.87. The company has a quick ratio of 0.87, a current ratio of 1.05 and a debt-to-equity ratio of 0.51. The business has a 50-day simple moving average of $85.09 and a 200 day simple moving average of $87.29. Coca-Cola FEMSA, S.A.B. de C.V. has a 52 week low of $77.02 and a 52 week high of $104.38.

Coca-Cola FEMSA Cuts Dividend

The business also recently disclosed a dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, December 6th will be given a $0.7433 dividend. The ex-dividend date is Friday, December 6th. Coca-Cola FEMSA’s dividend payout ratio (DPR) is 11.54%.

Coca-Cola FEMSA 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.