Summit Global Investments Has $4.23 Million Stock Holdings in Coca-Cola FEMSA, S.A.B. de C.V. (NYSE:KOF)

Summit Global Investments lifted its holdings in shares of Coca-Cola FEMSA, S.A.B. de C.V. (NYSE:KOF) by 0.7% in the third quarter, according to its most recent filing with the SEC. The firm owned 47,687 shares of the company’s stock after acquiring an additional 342 shares during the period. Summit Global Investments’ holdings in Coca-Cola FEMSA were worth $4,231,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Robeco Institutional Asset Management B.V. grew its stake in Coca-Cola FEMSA by 1.6% during the third quarter. Robeco Institutional Asset Management B.V. now owns 1,068,502 shares of the company’s stock worth $94,797,000 after buying an additional 17,208 shares during the last quarter. Itau Unibanco Holding S.A. increased its position in 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 worth $42,025,000 after purchasing an additional 62,282 shares during the period. Envestnet Asset Management Inc. lifted its position in Coca-Cola FEMSA by 2.4% during the 2nd quarter. Envestnet Asset Management Inc. now owns 221,697 shares of the company’s stock valued at $19,030,000 after purchasing an additional 5,166 shares during the period. Sei Investments Co. raised its stake in shares of Coca-Cola FEMSA by 7.7% during the second quarter. Sei Investments Co. now owns 167,276 shares of the company’s stock worth $14,359,000 after buying an additional 11,920 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Coca-Cola FEMSA by 3.4% in the second quarter. Dimensional Fund Advisors LP now owns 145,059 shares of the company’s stock valued at $12,447,000 after acquiring an additional 4,742 shares during the last quarter.

Coca-Cola FEMSA Stock Up 1.2 %

Shares of NYSE KOF opened at $83.20 on Friday. 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 company has a fifty day moving average price of $86.69 and a 200 day moving average price of $89.03. Coca-Cola FEMSA, S.A.B. de C.V. has a 1-year low of $78.35 and a 1-year high of $104.38.

Coca-Cola FEMSA Cuts Dividend

The company also recently announced a semi-annual dividend, which was paid on Friday, October 25th. Shareholders of record on Monday, October 14th were paid a $0.7811 dividend. This represents a yield of 2.6%. The ex-dividend date was Monday, October 14th. Coca-Cola FEMSA’s payout ratio is 11.55%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. The Goldman Sachs Group upgraded Coca-Cola FEMSA from a “neutral” rating to a “buy” rating in a report on Tuesday, September 3rd. Citigroup upgraded shares of Coca-Cola FEMSA from a “neutral” rating to a “buy” rating and increased their price target for the company from $93.00 to $102.00 in a research report on Tuesday, October 29th. Barclays reduced their price objective on shares of 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 shares of Coca-Cola FEMSA from a “buy” rating to a “strong-buy” rating in a report on Tuesday. Seven analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Buy” and an average target price of $103.91.

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.