Envestnet Asset Management Inc. Sells 43,780 Shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Envestnet Asset Management Inc. decreased its holdings in shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX - Free Report) by 13.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 271,155 shares of the company's stock after selling 43,780 shares during the quarter. Envestnet Asset Management Inc. owned 0.08% of Fomento Económico Mexicano worth $23,181,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in FMX. First Eagle Investment Management LLC increased its holdings in Fomento Económico Mexicano by 20.5% in the 4th quarter. First Eagle Investment Management LLC now owns 12,655,733 shares of the company's stock worth $1,081,939,000 after purchasing an additional 2,150,913 shares in the last quarter. Baillie Gifford & Co. grew its holdings in shares of Fomento Económico Mexicano by 0.4% during the fourth quarter. Baillie Gifford & Co. now owns 4,325,489 shares of the company's stock worth $369,786,000 after purchasing an additional 18,750 shares during the last quarter. Schroder Investment Management Group increased its stake in shares of Fomento Económico Mexicano by 20.4% in the fourth quarter. Schroder Investment Management Group now owns 4,228,299 shares of the company's stock valued at $360,716,000 after buying an additional 717,666 shares during the period. JPMorgan Chase & Co. raised its holdings in Fomento Económico Mexicano by 6.8% in the 4th quarter. JPMorgan Chase & Co. now owns 3,238,177 shares of the company's stock valued at $276,832,000 after buying an additional 205,981 shares during the last quarter. Finally, Perpetual Ltd boosted its position in Fomento Económico Mexicano by 23.8% during the 4th quarter. Perpetual Ltd now owns 924,669 shares of the company's stock worth $79,050,000 after buying an additional 177,843 shares during the period. Institutional investors own 61.00% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on FMX shares. The Goldman Sachs Group lowered their target price on Fomento Económico Mexicano from $109.00 to $97.80 and set a "buy" rating for the company in a research report on Tuesday, January 28th. UBS Group raised their price objective on Fomento Económico Mexicano from $94.00 to $107.00 and gave the stock a "neutral" rating in a research report on Friday, March 14th. Itau BBA Securities upgraded Fomento Económico Mexicano from a "market perform" rating to an "outperform" rating in a report on Monday, April 7th. Finally, Barclays raised their price target on shares of Fomento Económico Mexicano from $99.00 to $102.00 and gave the stock an "equal weight" rating in a report on Tuesday, March 4th. 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, Fomento Económico Mexicano currently has a consensus rating of "Moderate Buy" and an average price target of $103.95.

Fomento Económico Mexicano Stock Up 2.0 %

FMX traded up $2.04 during midday trading on Friday, hitting $105.83. The company had a trading volume of 370,257 shares, compared to its average volume of 637,556. The stock's 50 day moving average price is $96.22 and its 200 day moving average price is $92.22. Fomento Económico Mexicano, S.A.B. de C.V. has a 52 week low of $81.08 and a 52 week high of $123.09. The company has a market capitalization of $37.87 billion, a price-to-earnings ratio of 27.14, a PEG ratio of 5.26 and a beta of 0.68. The company has a quick ratio of 1.32, a current ratio of 1.62 and a debt-to-equity ratio of 0.37.

Fomento Económico Mexicano (NYSE:FMX - Get Free Report) last issued its earnings results on Thursday, February 27th. The company reported $0.46 EPS for the quarter, missing analysts' consensus estimates of $1.51 by ($1.05). The firm had revenue of $9.99 billion during the quarter, compared to the consensus estimate of $201.67 billion. Fomento Económico Mexicano had a net margin of 3.22% and a return on equity of 8.37%. On average, research analysts anticipate that Fomento Económico Mexicano, S.A.B. de C.V. will post 5.32 earnings per share for the current fiscal year.

Fomento Económico Mexicano Increases Dividend

The company also recently announced a dividend, which will be paid on Monday, May 5th. Investors of record on Friday, April 25th will be issued a $1.628 dividend. This is a boost from Fomento Económico Mexicano's previous dividend of $0.92. This represents a dividend yield of 1.57%. The ex-dividend date is Thursday, April 24th. Fomento Económico Mexicano's dividend payout ratio (DPR) is currently 11.03%.

Fomento Económico Mexicano Company 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.