Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) Position Decreased by ABS Direct Equity Fund LLC

ABS Direct Equity Fund LLC lessened its holdings in shares of Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX - Free Report) by 5.9% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 63,900 shares of the company's stock after selling 4,000 shares during the quarter. Fomento Economico Mexicano makes up 8.3% of ABS Direct Equity Fund LLC's portfolio, making the stock its 2nd biggest position. ABS Direct Equity Fund LLC's holdings in Fomento Economico Mexicano were worth $6,235,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in FMX. Stephens Inc. AR grew its position in Fomento Economico Mexicano by 30.9% during the 4th quarter. Stephens Inc. AR now owns 5,816 shares of the company's stock valued at $497,000 after purchasing an additional 1,372 shares during the last quarter. Baillie Gifford & Co. boosted its stake in shares of Fomento Economico Mexicano by 0.4% during the 4th quarter. Baillie Gifford & Co. now owns 4,325,489 shares of the company's stock worth $369,786,000 after acquiring an additional 18,750 shares during the last quarter. State of New Jersey Common Pension Fund D increased its position in Fomento Economico Mexicano by 5.0% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 193,052 shares of the company's stock worth $16,504,000 after buying an additional 9,254 shares in the last quarter. Fielder Capital Group LLC raised its stake in Fomento Economico Mexicano by 40.7% during the 4th quarter. Fielder Capital Group LLC now owns 3,168 shares of the company's stock worth $271,000 after acquiring an additional 917 shares during the period. Finally, Assetmark Inc. increased its stake in Fomento Economico Mexicano by 3,079.5% in the 4th quarter. Assetmark Inc. now owns 4,038 shares of the company's stock worth $345,000 after buying an additional 3,911 shares in the last quarter. Institutional investors own 61.00% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on FMX. Wall Street Zen cut shares of Fomento Economico Mexicano from a "buy" rating to a "hold" rating in a research note on Wednesday, April 30th. UBS Group increased their target price on shares of Fomento Economico Mexicano from $107.00 to $112.00 and gave the company a "neutral" rating in a research note on Thursday, May 15th. Barclays boosted their price objective on Fomento Economico Mexicano from $102.00 to $108.00 and gave the company an "equal weight" rating in a report on Monday, May 12th. Finally, Itau BBA Securities raised shares of Fomento Economico Mexicano from a "market perform" rating to an "outperform" rating in a research report on Monday, April 7th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, Fomento Economico Mexicano currently has an average rating of "Hold" and an average target price of $106.70.

Fomento Economico Mexicano Price Performance

Shares of FMX traded down $0.74 during trading hours on Wednesday, hitting $101.85. 504,736 shares of the stock were exchanged, compared to its average volume of 607,325. The stock's 50-day moving average price is $104.34 and its two-hundred day moving average price is $95.16. The company has a market cap of $36.44 billion, a price-to-earnings ratio of 22.78, a price-to-earnings-growth ratio of 3.69 and a beta of 0.67. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.31 and a current ratio of 1.64. Fomento Economico Mexicano S.A.B. de C.V. has a 12-month low of $81.08 and a 12-month high of $119.18.

Fomento Economico Mexicano (NYSE:FMX - Get Free Report) last issued its quarterly earnings data on Monday, April 28th. The company reported $0.45 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.52 by ($0.07). The business had revenue of $9.65 billion for the quarter, compared to analyst estimates of $194.75 billion. Fomento Economico Mexicano had a return on equity of 7.86% and a net margin of 3.98%. Research analysts expect that Fomento Economico Mexicano S.A.B. de C.V. will post 5.32 earnings per share for the current year.

Fomento Economico Mexicano Increases Dividend

The company also recently announced a dividend, which was paid on Monday, May 5th. Stockholders of record on Friday, April 25th were given a dividend of $1.628 per share. The ex-dividend date was Thursday, April 24th. This represents a dividend yield of 1.57%. This is a boost from Fomento Economico Mexicano's previous dividend of $0.92. Fomento Economico Mexicano's payout ratio is 11.41%.

Fomento Economico 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.