L2 Asset Management LLC Invests $3.15 Million in Coca Cola Femsa S.A.B. de C.V. $KOF

L2 Asset Management LLC acquired a new stake in shares of Coca Cola Femsa S.A.B. de C.V. (NYSE:KOF) during the second quarter, Holdings Channel reports. The firm acquired 16,522 shares of the company’s stock, valued at approximately $3,154,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in KOF. Bank of New York Mellon Corp bought a new position in Coca Cola Femsa during the 2nd quarter valued at $2,769,992,000. BlackRock Inc. acquired a new position in shares of Coca Cola Femsa during the 2nd quarter valued at $1,017,381,000. Danske Bank A S bought a new stake in shares of Coca Cola Femsa in the 2nd quarter worth $280,671,000. Stack Financial Management Inc bought a new stake in shares of Coca Cola Femsa in the 2nd quarter worth $26,079,000. Finally, Bank of America Corp DE lifted its holdings in shares of Coca Cola Femsa by 87.4% in the second quarter. Bank of America Corp DE now owns 589,519 shares of the company’s stock valued at $57,024,000 after buying an additional 274,894 shares during the period.

Coca Cola Femsa Stock Up 2.4%

Shares of Coca Cola Femsa stock opened at $114.91 on Tuesday. Coca Cola Femsa S.A.B. de C.V. has a 12-month low of $80.22 and a 12-month high of $116.36. The firm has a market capitalization of $193.12 billion, a PE ratio of 18.12, a price-to-earnings-growth ratio of 1.33 and a beta of 0.52. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.48. The stock’s fifty day moving average is $107.20 and its 200-day moving average is $105.53.

Coca Cola Femsa (NYSE:KOF) last issued its quarterly earnings results on Wednesday, July 1st. The company reported $1.69 earnings per share for the quarter. The firm had revenue of $4.36 billion for the quarter. Coca Cola Femsa had a return on equity of 15.83% and a net margin of 8.05%. Equities analysts anticipate that Coca Cola Femsa S.A.B. de C.V. will post 6.93 earnings per share for the current year.

Coca Cola Femsa Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 24th. Shareholders of record on Monday, July 13th were issued a $1.1248 dividend. The ex-dividend date was Monday, July 13th. This is a positive change from Coca Cola Femsa’s previous quarterly dividend of $1.09. This represents a $4.50 annualized dividend and a dividend yield of 3.9%. Coca Cola Femsa’s dividend payout ratio is 61.99%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on KOF shares. Barclays raised their target price on Coca Cola Femsa from $115.00 to $122.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 29th. Wall Street Zen raised shares of Coca Cola Femsa from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 8th. UBS Group raised their price objective on shares of Coca Cola Femsa from $110.00 to $113.00 and gave the company a “neutral” rating in a research report on Monday, August 3rd. Weiss Ratings raised shares of Coca Cola Femsa from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, May 29th. Finally, HSBC reiterated a “hold” rating and issued a $116.00 target price on shares of Coca Cola Femsa in a report on Tuesday, July 28th. Four research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Coca Cola Femsa has an average rating of “Hold” and a consensus target price of $118.83.

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.