Ameriprise Financial Inc. Has $5.95 Million Holdings in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Ameriprise Financial Inc. lowered its position in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX - Free Report) by 19.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 69,558 shares of the company's stock after selling 17,036 shares during the period. Ameriprise Financial Inc.'s holdings in Fomento Económico Mexicano were worth $5,947,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Mather Group LLC. increased its position in shares of Fomento Económico Mexicano by 179.1% in the fourth quarter. Mather Group LLC. now owns 575 shares of the company's stock valued at $49,000 after acquiring an additional 369 shares during the last quarter. Exchange Traded Concepts LLC bought a new position in Fomento Económico Mexicano during the fourth quarter worth about $51,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in Fomento Económico Mexicano during the fourth quarter worth about $72,000. UMB Bank n.a. grew its holdings in Fomento Económico Mexicano by 29.7% during the fourth quarter. UMB Bank n.a. now owns 887 shares of the company's stock worth $76,000 after purchasing an additional 203 shares during the period. Finally, R Squared Ltd bought a new position in Fomento Económico Mexicano during the fourth quarter worth about $118,000. Institutional investors and hedge funds own 61.00% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on FMX. Itau BBA Securities upgraded Fomento Económico Mexicano from a "market perform" rating to an "outperform" rating in a report on Monday, April 7th. Wall Street Zen cut Fomento Económico Mexicano from a "buy" rating to a "hold" rating in a report on Wednesday, April 30th. Barclays boosted their price objective on Fomento Económico Mexicano from $102.00 to $108.00 and gave the stock an "equal weight" rating in a report on Monday, May 12th. Finally, UBS Group boosted their price objective on Fomento Económico Mexicano from $107.00 to $112.00 and gave the stock a "neutral" rating in a report on Thursday, May 15th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Fomento Económico Mexicano has an average rating of "Hold" and an average target price of $106.70.

Fomento Económico Mexicano Price Performance

Shares of NYSE FMX traded up $0.61 during midday trading on Thursday, reaching $107.46. The company's stock had a trading volume of 433,692 shares, compared to its average volume of 618,141. 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, S.A.B. de C.V. has a fifty-two week low of $81.08 and a fifty-two week high of $119.18. The business's 50 day moving average price is $102.23 and its two-hundred day moving average price is $93.62. The company has a market cap of $38.45 billion, a P/E ratio of 27.55, a P/E/G ratio of 5.26 and a beta of 0.69.

Fomento Económico Mexicano (NYSE:FMX - Get Free Report) last announced its quarterly earnings data on Monday, April 28th. The company reported $0.45 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.07). Fomento Económico Mexicano had a net margin of 3.22% and a return on equity of 8.37%. The firm had revenue of $9.65 billion for the quarter, compared to analyst estimates of $194.75 billion. On average, analysts forecast that Fomento Económico Mexicano, S.A.B. de C.V. will post 5.32 EPS for the current fiscal year.

Fomento Económico Mexicano Increases Dividend

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

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.