Coca-Cola FEMSA, S.A.B. de C.V. (NYSE:KOF) Shares Bought by Itau Unibanco Holding S.A.

Itau Unibanco Holding S.A. lifted its stake in shares of Coca-Cola FEMSA, S.A.B. de C.V. (NYSE:KOF) by 59.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 813,164 shares of the company’s stock after purchasing an additional 304,197 shares during the period. Coca-Cola FEMSA comprises 2.2% of Itau Unibanco Holding S.A.’s investment portfolio, making the stock its 14th biggest position. Itau Unibanco Holding S.A.’s holdings in Coca-Cola FEMSA were worth $68,297,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of KOF. HighTower Advisors LLC increased its holdings in shares of Coca-Cola FEMSA by 43.3% in the third quarter. HighTower Advisors LLC now owns 4,844 shares of the company’s stock valued at $428,000 after purchasing an additional 1,464 shares during the period. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in Coca-Cola FEMSA by 150.6% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 44,600 shares of the company’s stock valued at $3,957,000 after buying an additional 26,800 shares in the last quarter. Quantbot Technologies LP increased its stake in Coca-Cola FEMSA by 266.0% during the third quarter. Quantbot Technologies LP now owns 14,243 shares of the company’s stock valued at $1,264,000 after acquiring an additional 10,352 shares during the period. Mirabella Financial Services LLP acquired a new position in Coca-Cola FEMSA during the 3rd quarter worth $3,912,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Coca-Cola FEMSA by 73.9% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 261,049 shares of the company’s stock valued at $23,160,000 after acquiring an additional 110,926 shares during the last quarter.

Coca-Cola FEMSA Stock Performance

Shares of KOF stock opened at $80.59 on Tuesday. The stock has a 50-day simple moving average of $84.17 and a 200 day simple moving average of $86.70. The company has a quick ratio of 0.87, a current ratio of 1.05 and a debt-to-equity ratio of 0.51. Coca-Cola FEMSA, S.A.B. de C.V. has a fifty-two week low of $77.02 and a fifty-two week high of $104.38.

Coca-Cola FEMSA Cuts Dividend

The company also recently announced a semi-annual dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, December 6th will be paid a $0.7433 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a dividend yield of 3.7%. Coca-Cola FEMSA’s dividend payout ratio (DPR) is currently 11.55%.

Analyst Ratings Changes

KOF has been the topic of several recent research reports. The Goldman Sachs Group raised shares of Coca-Cola FEMSA from a “neutral” rating to a “buy” rating in a report on Tuesday, September 3rd. Barclays cut their price target on shares of Coca-Cola FEMSA from $110.00 to $108.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. StockNews.com upgraded shares of Coca-Cola FEMSA from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, November 5th. Finally, Citigroup upgraded shares of Coca-Cola FEMSA from a “neutral” rating to a “buy” rating and upped their target price for the stock from $93.00 to $102.00 in a research note on Tuesday, October 29th. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Coca-Cola FEMSA presently has an average rating of “Buy” and a consensus target price of $103.91.

Coca-Cola FEMSA 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.