Coca Cola Femsa S.A.B. de C.V. $KOF Shares Sold by Cullen Capital Management LLC

Cullen Capital Management LLC cut its holdings in shares of Coca Cola Femsa S.A.B. de C.V. (NYSE:KOF) by 13.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 458,255 shares of the company’s stock after selling 72,800 shares during the period. Cullen Capital Management LLC’s holdings in Coca Cola Femsa were worth $38,081,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Boston Partners increased its stake in Coca Cola Femsa by 4,404.3% during the 2nd quarter. Boston Partners now owns 1,681,955 shares of the company’s stock worth $162,665,000 after buying an additional 1,644,614 shares during the period. Auto Owners Insurance Co grew its stake in shares of Coca Cola Femsa by 5,257.1% in the second quarter. Auto Owners Insurance Co now owns 300,000 shares of the company’s stock worth $29,019,000 after acquiring an additional 294,400 shares in the last quarter. Bank of America Corp DE increased its position in shares of Coca Cola Femsa by 87.4% during the second quarter. Bank of America Corp DE now owns 589,519 shares of the company’s stock worth $57,024,000 after acquiring an additional 274,894 shares during the period. William Blair Investment Management LLC acquired a new stake in shares of Coca Cola Femsa in the second quarter valued at $5,539,000. Finally, Ramirez Asset Management Inc. boosted its holdings in Coca Cola Femsa by 98.4% in the second quarter. Ramirez Asset Management Inc. now owns 104,723 shares of the company’s stock valued at $10,130,000 after purchasing an additional 51,932 shares during the period.

Coca Cola Femsa Trading Down 2.0%

KOF stock opened at $105.73 on Thursday. The company’s 50 day moving average is $96.81 and its two-hundred day moving average is $89.26. Coca Cola Femsa S.A.B. de C.V. has a twelve month low of $77.14 and a twelve month high of $109.45. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.10 and a quick ratio of 0.90.

Coca Cola Femsa Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 19th. Investors of record on Monday, December 8th were given a $0.9979 dividend. The ex-dividend date was Monday, December 8th. This represents a $3.99 annualized dividend and a yield of 3.8%. Coca Cola Femsa’s dividend payout ratio is 64.29%.

Wall Street Analyst Weigh In

KOF has been the topic of several recent research reports. Zacks Research upgraded Coca Cola Femsa from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 11th. JPMorgan Chase & Co. lowered shares of Coca Cola Femsa from an “overweight” rating to a “neutral” rating and set a $100.00 target price on the stock. in a research note on Wednesday, January 28th. Barclays reaffirmed an “equal weight” rating and issued a $98.00 target price on shares of Coca Cola Femsa in a report on Tuesday, December 2nd. Wall Street Zen cut shares of Coca Cola Femsa from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Coca Cola Femsa in a report on Friday, December 26th. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $103.00.

About Coca Cola Femsa

Coca?Cola FEMSA (NYSE: KOF) is a large multinational beverage bottler and distributor operating primarily in Mexico and across multiple markets in Latin America. As a principal franchise bottler for The Coca?Cola Company, the firm is responsible for producing, packaging, marketing and distributing Coca?Cola branded beverages and a wide range of nonalcoholic drinks to retail and foodservice customers throughout its territories.

The company’s product portfolio includes carbonated soft drinks, bottled water, juices, ready?to?drink teas and coffees, sports and energy drinks, and other noncarbonated beverages.