Millennium Management LLC Grows Position in Coca-Cola FEMSA, S.A.B. de C.V. (NYSE:KOF)

Millennium Management LLC raised its stake in Coca-Cola FEMSA, S.A.B. de C.V. (NYSE:KOF) by 2.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 93,645 shares of the company’s stock after acquiring an additional 1,860 shares during the quarter. Millennium Management LLC’s holdings in Coca-Cola FEMSA were worth $7,294,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in Coca-Cola FEMSA during the 4th quarter worth about $43,000. Focus Partners Wealth purchased a new stake in shares of Coca-Cola FEMSA during the fourth quarter worth about $334,000. Corvex Management LP raised its position in shares of Coca-Cola FEMSA by 138.9% in the fourth quarter. Corvex Management LP now owns 1,066,108 shares of the company’s stock valued at $83,039,000 after buying an additional 619,931 shares during the last quarter. Banque de Luxembourg S.A. acquired a new position in shares of Coca-Cola FEMSA in the fourth quarter valued at approximately $43,000. Finally, BLI Banque de Luxembourg Investments purchased a new position in shares of Coca-Cola FEMSA during the fourth quarter valued at approximately $6,533,000.

Coca-Cola FEMSA Trading Up 2.3%

KOF stock opened at $95.16 on Tuesday. The company has a quick ratio of 0.94, a current ratio of 1.14 and a debt-to-equity ratio of 0.47. The company has a market cap of $159.93 billion, a price-to-earnings ratio of 16.16, a PEG ratio of 0.62 and a beta of 0.63. The business has a fifty day simple moving average of $93.46 and a 200-day simple moving average of $85.27. Coca-Cola FEMSA, S.A.B. de C.V. has a 52 week low of $72.68 and a 52 week high of $101.74.

Coca-Cola FEMSA (NYSE:KOF) last posted its quarterly earnings results on Friday, April 25th. The company reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.01 by $0.19. The firm had revenue of $3.42 billion during the quarter, compared to the consensus estimate of $3.44 billion. Coca-Cola FEMSA had a return on equity of 15.99% and a net margin of 8.12%. On average, equities research analysts expect that Coca-Cola FEMSA, S.A.B. de C.V. will post 5.7 EPS for the current year.

Coca-Cola FEMSA Increases Dividend

The firm also recently declared a semi-annual dividend, which was paid on Monday, May 5th. Investors of record on Tuesday, April 22nd were issued a $0.8839 dividend. This is a positive change from Coca-Cola FEMSA’s previous semi-annual dividend of $0.74. The ex-dividend date was Tuesday, April 22nd. This represents a yield of 3.1%. Coca-Cola FEMSA’s dividend payout ratio (DPR) is presently 13.76%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on KOF shares. JPMorgan Chase & Co. boosted their price target on Coca-Cola FEMSA from $107.00 to $110.00 and gave the company an “overweight” rating in a report on Friday, April 11th. Wall Street Zen raised Coca-Cola FEMSA from a “hold” rating to a “buy” rating in a research report on Saturday. UBS Group increased their target price on Coca-Cola FEMSA from $106.00 to $109.00 and gave the stock a “buy” rating in a research report on Monday, May 5th. Finally, Barclays raised their price target on Coca-Cola FEMSA from $99.00 to $105.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 4th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $106.50.

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.