Canada Pension Plan Investment Board Reduces Holdings in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Canada Pension Plan Investment Board trimmed its holdings in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX - Free Report) by 43.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,900 shares of the company's stock after selling 16,700 shares during the quarter. Canada Pension Plan Investment Board's holdings in Fomento Económico Mexicano were worth $1,872,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. First Eagle Investment Management LLC increased its position in Fomento Económico Mexicano by 20.5% during the 4th quarter. First Eagle Investment Management LLC now owns 12,655,733 shares of the company's stock valued at $1,081,939,000 after buying an additional 2,150,913 shares in the last quarter. Baillie Gifford & Co. grew its position in Fomento Económico Mexicano by 0.4% during the 4th quarter. Baillie Gifford & Co. now owns 4,325,489 shares of the company's stock valued at $369,786,000 after purchasing an additional 18,750 shares during the last quarter. Schroder Investment Management Group increased its stake in Fomento Económico Mexicano by 20.4% during the 4th quarter. Schroder Investment Management Group now owns 4,228,299 shares of the company's stock valued at $360,716,000 after purchasing an additional 717,666 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Fomento Económico Mexicano by 6.8% in the fourth quarter. JPMorgan Chase & Co. now owns 3,238,177 shares of the company's stock worth $276,832,000 after buying an additional 205,981 shares during the last quarter. Finally, FMR LLC grew its holdings in shares of Fomento Económico Mexicano by 540.3% during the fourth quarter. FMR LLC now owns 3,147,544 shares of the company's stock valued at $269,084,000 after buying an additional 2,655,962 shares during the last quarter. Hedge funds and other institutional investors own 61.00% of the company's stock.

Fomento Económico Mexicano Trading Down 0.3 %

NYSE FMX traded down $0.27 during trading on Tuesday, hitting $106.07. The stock had a trading volume of 174,682 shares, compared to its average volume of 622,910. Fomento Económico Mexicano, S.A.B. de C.V. has a one year low of $81.08 and a one year high of $123.09. The stock has a 50 day simple moving average of $98.08 and a 200 day simple moving average of $92.43. The stock has a market capitalization of $37.95 billion, a price-to-earnings ratio of 27.20, a P/E/G ratio of 5.26 and a beta of 0.68. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.32 and a current ratio of 1.62.

Fomento Económico Mexicano (NYSE:FMX - Get Free Report) last posted its quarterly earnings results on Monday, April 28th. The company reported $0.45 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.07). The company had revenue of $9.65 billion during the quarter, compared to analysts' expectations of $194.75 billion. Fomento Económico Mexicano had a return on equity of 8.37% and a net margin of 3.22%. Sell-side analysts predict that Fomento Económico Mexicano, S.A.B. de C.V. will post 5.32 earnings per share for the current year.

Fomento Económico Mexicano Increases Dividend

The firm also recently disclosed a dividend, which will be paid on Monday, May 5th. Stockholders of record on Friday, April 25th will be paid a dividend of $1.628 per share. The ex-dividend date is Thursday, April 24th. This is an increase from Fomento Económico Mexicano's previous dividend of $0.92. This represents a dividend yield of 1.57%. Fomento Económico Mexicano's dividend payout ratio (DPR) is currently 11.75%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on FMX. The Goldman Sachs Group decreased their price objective on shares of Fomento Económico Mexicano from $109.00 to $97.80 and set a "buy" rating for the company in a report on Tuesday, January 28th. Barclays lifted their price objective on Fomento Económico Mexicano from $99.00 to $102.00 and gave the stock an "equal weight" rating in a report on Tuesday, March 4th. Itau BBA Securities upgraded shares of Fomento Económico Mexicano from a "market perform" rating to an "outperform" rating in a research note on Monday, April 7th. Finally, UBS Group boosted their price objective on shares of Fomento Económico Mexicano from $94.00 to $107.00 and gave the company a "neutral" rating in a report on Friday, March 14th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Fomento Económico Mexicano currently has an average rating of "Moderate Buy" and a consensus target price of $103.95.

Fomento Económico Mexicano Profile

Fomento Económico Mexicano, SAB. de C.V., through its subsidiaries, operates as a bottler of Coca-Cola trademark beverages. The company produces, markets, and distributes Coca-Cola trademark beverages in Mexico, Guatemala, Nicaragua, Costa Rica, Panama, Colombia, Venezuela, Brazil, Argentina, and Uruguay.