Coca-Cola FEMSA, S.A.B. de C.V. (NYSE:KOF) Sees Large Decrease in Short Interest

Coca-Cola FEMSA, S.A.B. de C.V. (NYSE:KOF) was the target of a significant decline in short interest in the month of December. As of December 31st, there was short interest totalling 294,300 shares, a decline of 14.4% from the December 15th total of 343,700 shares. Currently, 0.6% of the shares of the stock are short sold. Based on an average daily trading volume, of 157,800 shares, the short-interest ratio is presently 1.9 days.

Coca-Cola FEMSA Trading Down 0.3 %

NYSE:KOF traded down $0.24 during trading hours on Friday, hitting $76.09. 130,635 shares of the company were exchanged, compared to its average volume of 105,072. The stock has a market capitalization of $127.88 billion, a price-to-earnings ratio of 12.92, a price-to-earnings-growth ratio of 0.54 and a beta of 0.83. Coca-Cola FEMSA has a one year low of $73.90 and a one year high of $104.38. The company has a fifty day simple moving average of $78.87 and a 200 day simple moving average of $84.07. The company has a current ratio of 1.14, a quick ratio of 0.94 and a debt-to-equity ratio of 0.47.

Coca-Cola FEMSA Cuts Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Thursday, December 19th. Stockholders of record on Friday, December 6th were paid a $0.7433 dividend. This represents a dividend yield of 3.7%. The ex-dividend date of this dividend was Friday, December 6th. Coca-Cola FEMSA’s dividend payout ratio is currently 11.71%.

Institutional Trading of Coca-Cola FEMSA

A number of institutional investors have recently bought and sold shares of KOF. JPMorgan Chase & Co. increased its stake in shares of Coca-Cola FEMSA by 90.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 796,574 shares of the company’s stock valued at $70,672,000 after acquiring an additional 378,325 shares in the last quarter. Itau Unibanco Holding S.A. grew its holdings 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. Allspring Global Investments Holdings LLC bought a new stake in Coca-Cola FEMSA in the third quarter valued at $31,000. Marshall Wace LLP acquired a new position in shares of Coca-Cola FEMSA during the second quarter valued at about $7,708,000. Finally, HighTower Advisors LLC boosted its position in shares of Coca-Cola FEMSA by 43.3% during the 3rd quarter. HighTower Advisors LLC now owns 4,844 shares of the company’s stock worth $428,000 after purchasing an additional 1,464 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on KOF. Barclays dropped their target price 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. Citigroup upgraded 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. Finally, StockNews.com upgraded Coca-Cola FEMSA from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, November 5th. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $104.75.

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.