Legacy Capital Group California Inc. Invests $289,000 in Coca-Cola FEMSA, S.A.B. de C.V. (NYSE:KOF)

Legacy Capital Group California Inc. bought a new stake in Coca-Cola FEMSA, S.A.B. de C.V. (NYSE:KOF) during the 3rd quarter, HoldingsChannel reports. The institutional investor bought 3,255 shares of the company’s stock, valued at approximately $289,000.

A number of other institutional investors also recently added to or reduced their stakes in KOF. Itau Unibanco Holding S.A. raised its stake in Coca-Cola FEMSA by 13.9% during the 2nd quarter. Itau Unibanco Holding S.A. now owns 508,967 shares of the company’s stock worth $42,025,000 after acquiring an additional 62,282 shares in the last quarter. Price T Rowe Associates Inc. MD acquired a new stake in shares of Coca-Cola FEMSA during the first quarter worth about $3,346,000. Quadrature Capital Ltd purchased a new stake in shares of Coca-Cola FEMSA in the 1st quarter valued at about $4,217,000. Marshall Wace LLP acquired a new stake in shares of Coca-Cola FEMSA in the 2nd quarter valued at about $7,708,000. Finally, Canada Pension Plan Investment Board acquired a new stake in shares of Coca-Cola FEMSA in the 2nd quarter valued at about $2,515,000.

Coca-Cola FEMSA Trading Up 1.3 %

Shares of NYSE:KOF opened at $85.98 on Friday. Coca-Cola FEMSA, S.A.B. de C.V. has a fifty-two week low of $73.95 and a fifty-two week high of $104.38. 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 firm’s 50-day simple moving average is $87.60 and its 200-day simple moving average is $89.74.

Coca-Cola FEMSA Cuts Dividend

The firm also recently announced a semi-annual dividend, which was paid on Friday, October 25th. Shareholders 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 was Monday, October 14th. Coca-Cola FEMSA’s payout ratio is 11.51%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. UBS Group reduced their price objective on Coca-Cola FEMSA from $112.00 to $102.00 and set a “buy” rating for the company in a research note on Wednesday, July 10th. The Goldman Sachs Group upgraded shares of Coca-Cola FEMSA from a “neutral” rating to a “buy” rating in a research note on Tuesday, September 3rd. Finally, Barclays increased their target price on shares of Coca-Cola FEMSA from $105.00 to $110.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Coca-Cola FEMSA presently has an average rating of “Buy” and a consensus target price of $101.91.

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.