Russell Investments Group Ltd. trimmed its position in Coca-Cola FEMSA, S.A.B. de C.V. (NYSE:KOF) by 40.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 43,602 shares of the company’s stock after selling 29,475 shares during the quarter. Russell Investments Group Ltd.’s holdings in Coca-Cola FEMSA were worth $2,463,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Banco de Sabadell S.A purchased a new stake in shares of Coca-Cola FEMSA in the first quarter worth about $408,000. GFS Advisors LLC raised its stake in Coca-Cola FEMSA by 77.9% in the second quarter. GFS Advisors LLC now owns 9,480 shares of the company’s stock valued at $535,000 after purchasing an additional 4,150 shares in the last quarter. Rational Advisors LLC purchased a new stake in Coca-Cola FEMSA in the second quarter valued at approximately $657,000. Wells Fargo & Company MN raised its stake in Coca-Cola FEMSA by 280.5% in the first quarter. Wells Fargo & Company MN now owns 14,122 shares of the company’s stock valued at $938,000 after purchasing an additional 10,411 shares in the last quarter. Finally, Stifel Financial Corp purchased a new stake in Coca-Cola FEMSA in the first quarter valued at approximately $1,088,000. 6.75% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages recently weighed in on KOF. Zacks Investment Research raised shares of Coca-Cola FEMSA from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 31st. JPMorgan Chase & Co. raised their target price on shares of Coca-Cola FEMSA from $66.00 to $73.00 and gave the company a “hold” rating in a research note on Friday, August 24th. Barclays set a $72.00 target price on shares of Coca-Cola FEMSA and gave the company a “buy” rating in a research note on Saturday, July 28th. ValuEngine raised shares of Coca-Cola FEMSA from a “sell” rating to a “hold” rating in a research note on Tuesday, September 4th. Finally, UBS Group raised shares of Coca-Cola FEMSA from a “market perform” rating to an “outperform” rating in a research note on Wednesday, June 20th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $91.00.
Coca-Cola FEMSA (NYSE:KOF) last posted its quarterly earnings results on Friday, July 27th. The company reported $0.69 EPS for the quarter, missing the consensus estimate of $0.70 by ($0.01). The business had revenue of $2.69 billion for the quarter, compared to analysts’ expectations of $2.59 billion. Coca-Cola FEMSA had a positive return on equity of 9.33% and a negative net margin of 7.51%. analysts anticipate that Coca-Cola FEMSA, S.A.B. de C.V. will post 3.11 EPS for the current fiscal year.
Coca-Cola FEMSA Profile
Coca-Cola FEMSA, SAB. de C.V., a franchise bottler, produces, markets, sells, and distributes Coca-Cola trademark beverages. The company offers sparkling beverages, including colas and flavored sparkling beverages; and waters and still beverages, such as juice drinks, coffee, teas, milk, value-added dairy, sports drinks, energy drinks, and plant-based drinks.
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