Assenagon Asset Management S.A. Sells 131,427 Shares of Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX)

Assenagon Asset Management S.A. decreased its holdings in Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX - Free Report) by 97.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,576 shares of the company's stock after selling 131,427 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Fomento Economico Mexicano were worth $349,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of FMX. Fielder Capital Group LLC grew its stake in shares of Fomento Economico Mexicano by 40.7% in the fourth quarter. Fielder Capital Group LLC now owns 3,168 shares of the company's stock worth $271,000 after purchasing an additional 917 shares during the last quarter. Assetmark Inc. lifted its holdings in Fomento Economico Mexicano by 3,079.5% in the fourth quarter. Assetmark Inc. now owns 4,038 shares of the company's stock valued at $345,000 after buying an additional 3,911 shares during the period. Aigen Investment Management LP lifted its holdings in Fomento Economico Mexicano by 20.2% in the fourth quarter. Aigen Investment Management LP now owns 20,199 shares of the company's stock valued at $1,727,000 after buying an additional 3,399 shares during the period. Raymond James Financial Inc. acquired a new position in Fomento Economico Mexicano in the fourth quarter valued at $813,000. Finally, Callan Family Office LLC acquired a new position in Fomento Economico Mexicano in the fourth quarter valued at $372,000. Institutional investors own 61.00% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on FMX shares. Itau BBA Securities upgraded shares of Fomento Economico Mexicano from a "market perform" rating to an "outperform" rating in a report on Monday, April 7th. Wall Street Zen lowered shares of Fomento Economico Mexicano from a "buy" rating to a "hold" rating in a report on Wednesday, April 30th. Barclays boosted their target price on shares of 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, UBS Group boosted their target price on shares of Fomento Economico Mexicano from $107.00 to $112.00 and gave the company a "neutral" rating in a report on Thursday, May 15th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $106.70.

Fomento Economico Mexicano Trading Down 0.7%

FMX opened at $101.85 on Friday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.64 and a quick ratio of 1.31. Fomento Economico 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 firm has a market capitalization of $36.44 billion, a PE ratio of 22.78, a P/E/G ratio of 3.58 and a beta of 0.67. The company's 50-day moving average is $104.53 and its 200 day moving average is $95.30.

Fomento Economico Mexicano (NYSE:FMX - Get Free Report) last posted 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). The firm had revenue of $9.65 billion during the quarter, compared to analysts' expectations of $194.75 billion. Fomento Economico Mexicano had a net margin of 3.98% and a return on equity of 7.86%. As a group, research analysts predict that Fomento Economico Mexicano S.A.B. de C.V. will post 5.32 earnings per share for the current fiscal year.

Fomento Economico Mexicano Increases Dividend

The firm also recently disclosed a dividend, which was paid on Monday, May 5th. Investors of record on Friday, April 25th were issued a $1.628 dividend. The ex-dividend date was Thursday, April 24th. This is an increase from Fomento Economico Mexicano's previous dividend of $0.92. This represents a yield of 1.57%. Fomento Economico Mexicano's dividend payout ratio (DPR) is 11.41%.

About Fomento Economico Mexicano

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.

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