Coca-Cola FEMSA, S.A.B. de C.V. (NYSE:KOF – Get Free Report) was the recipient of a significant decrease in short interest in December. As of December 31st, there was short interest totalling 294,300 shares, a decrease of 14.4% from the December 15th total of 343,700 shares. Based on an average daily volume of 157,800 shares, the days-to-cover ratio is presently 1.9 days. Approximately 0.6% of the company’s stock are sold short.
Analysts Set New Price Targets
A number of research analysts recently commented on the stock. Citigroup raised shares of Coca-Cola FEMSA from a “neutral” rating to a “buy” rating and increased their target price for the company from $93.00 to $102.00 in a research report on Tuesday, October 29th. Barclays dropped their price objective on Coca-Cola FEMSA from $110.00 to $108.00 and set an “overweight” rating on the stock in a report on Wednesday, October 30th. Finally, StockNews.com raised Coca-Cola FEMSA from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, November 5th. Six 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 data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $104.75.
Get Our Latest Stock Report on Coca-Cola FEMSA
Coca-Cola FEMSA Stock Performance
Coca-Cola FEMSA Cuts Dividend
The business also recently disclosed a semi-annual dividend, which was paid on Thursday, December 19th. Shareholders of record on Friday, December 6th were paid a dividend of $0.7433 per share. This represents a yield of 3.7%. The ex-dividend date of this dividend was Friday, December 6th. Coca-Cola FEMSA’s dividend payout ratio is presently 11.71%.
Institutional Trading of Coca-Cola FEMSA
Hedge funds have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC purchased a new stake in shares of Coca-Cola FEMSA during the third quarter worth approximately $31,000. Hartford Financial Management Inc. increased its stake in Coca-Cola FEMSA by 42.2% in the 3rd quarter. Hartford Financial Management Inc. now owns 472 shares of the company’s stock valued at $42,000 after buying an additional 140 shares during the period. GAMMA Investing LLC raised its position in Coca-Cola FEMSA by 56.2% during the 3rd quarter. GAMMA Investing LLC now owns 545 shares of the company’s stock worth $48,000 after buying an additional 196 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Coca-Cola FEMSA in the 3rd quarter worth $71,000. Finally, ORG Wealth Partners LLC purchased a new stake in shares of Coca-Cola FEMSA in the third quarter valued at about $85,000.
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.
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