Connor Clark & Lunn Investment Management Ltd. Acquires 110,926 Shares of Coca-Cola FEMSA, S.A.B. de C.V. (NYSE:KOF)

Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Coca-Cola FEMSA, S.A.B. de C.V. (NYSE:KOF) by 73.9% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 261,049 shares of the company’s stock after purchasing an additional 110,926 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Coca-Cola FEMSA were worth $23,160,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of KOF. Marshall Wace LLP acquired a new stake in shares of Coca-Cola FEMSA in the second quarter valued at approximately $7,708,000. Itau Unibanco Holding S.A. lifted its position in shares of 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 valued at $42,025,000 after acquiring an additional 62,282 shares during the period. Quadrature Capital Ltd acquired a new stake in shares of Coca-Cola FEMSA during the 1st quarter worth $4,217,000. Price T Rowe Associates Inc. MD acquired a new stake in shares of Coca-Cola FEMSA during the 1st quarter worth $3,346,000. Finally, Canada Pension Plan Investment Board bought a new position in shares of Coca-Cola FEMSA in the second quarter worth $2,515,000.

Coca-Cola FEMSA Price Performance

Shares of KOF opened at $77.99 on Thursday. The business has a 50-day moving average of $85.59 and a 200-day moving average of $87.80. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.05 and a quick ratio of 0.87. The company has a market capitalization of $131.08 billion, a price-to-earnings ratio of 13.24, a price-to-earnings-growth ratio of 0.70 and a beta of 0.87. Coca-Cola FEMSA, S.A.B. de C.V. has a 1 year low of $77.02 and a 1 year high of $104.38.

Coca-Cola FEMSA Cuts Dividend

The company also recently declared a semi-annual dividend, which was paid on Friday, October 25th. Shareholders of record on Monday, October 14th were issued a dividend of $0.7811 per share. The ex-dividend date was Monday, October 14th. This represents a yield of 2.6%. Coca-Cola FEMSA’s payout ratio is 11.54%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on KOF shares. The Goldman Sachs Group raised shares of Coca-Cola FEMSA from a “neutral” rating to a “buy” rating in a research 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 stock from $93.00 to $102.00 in a research report on Tuesday, October 29th. Barclays lowered their price objective on shares of Coca-Cola FEMSA from $110.00 to $108.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. Finally, StockNews.com raised Coca-Cola FEMSA from a “buy” rating to a “strong-buy” rating in a report on Tuesday, November 5th. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Coca-Cola FEMSA has an average rating of “Buy” and an average price target 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.