Bank of America Corp DE Sells 382,155 Shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Bank of America Corp DE lessened its position in shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX - Free Report) by 59.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 265,828 shares of the company's stock after selling 382,155 shares during the period. Bank of America Corp DE owned 0.07% of Fomento Económico Mexicano worth $22,726,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in FMX. Franklin Resources Inc. increased its stake in Fomento Económico Mexicano by 4.2% in the 4th quarter. Franklin Resources Inc. now owns 3,117 shares of the company's stock worth $266,000 after acquiring an additional 125 shares during the last quarter. Brooklyn Investment Group boosted its stake in shares of Fomento Económico Mexicano by 82.8% during the fourth quarter. Brooklyn Investment Group now owns 340 shares of the company's stock valued at $29,000 after purchasing an additional 154 shares during the period. UMB Bank n.a. boosted its stake in shares of Fomento Económico Mexicano by 29.7% during the fourth quarter. UMB Bank n.a. now owns 887 shares of the company's stock valued at $76,000 after purchasing an additional 203 shares during the period. Mitsubishi UFJ Trust & Banking Corp boosted its stake in shares of Fomento Económico Mexicano by 5.8% during the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 5,015 shares of the company's stock valued at $429,000 after purchasing an additional 274 shares during the period. Finally, Atomi Financial Group Inc. lifted its stake in Fomento Económico Mexicano by 13.5% in the fourth quarter. Atomi Financial Group Inc. now owns 2,800 shares of the company's stock worth $239,000 after acquiring an additional 334 shares during the period. Hedge funds and other institutional investors own 61.00% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports 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. The Goldman Sachs Group decreased their price objective on Fomento Económico Mexicano from $109.00 to $97.80 and set a "buy" rating for the company in a report on Tuesday, January 28th. UBS Group lifted their price target on Fomento Económico Mexicano from $107.00 to $112.00 and gave the stock a "neutral" rating in a research report on Thursday, May 15th. Wall Street Zen lowered Fomento Económico Mexicano from a "buy" rating to a "hold" rating in a research report on Wednesday, April 30th. Finally, Barclays lifted their price target on Fomento Económico Mexicano from $102.00 to $108.00 and gave the stock an "equal weight" rating in a research report on Monday, May 12th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Fomento Económico Mexicano currently has an average rating of "Hold" and an average target price of $106.70.

Fomento Económico Mexicano Price Performance

Shares of FMX traded up $0.85 during mid-day trading on Friday, hitting $106.71. 450,402 shares of the stock were exchanged, compared to its average volume of 618,335. The company has a market cap of $38.18 billion, a PE ratio of 27.36, a price-to-earnings-growth ratio of 5.26 and a beta of 0.69. Fomento Económico Mexicano, S.A.B. de C.V. has a 52-week low of $81.08 and a 52-week high of $119.18. The firm has a 50-day moving average of $101.50 and a two-hundred day moving average of $93.31. 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 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.52 by ($0.07). Fomento Económico Mexicano had a return on equity of 8.37% and a net margin of 3.22%. The firm had revenue of $9.65 billion for the quarter, compared to the consensus estimate of $194.75 billion. On average, equities 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 was paid on Monday, May 5th. Shareholders of record on Friday, April 25th were issued a $1.628 dividend. This is a positive change from Fomento Económico Mexicano's previous dividend of $0.92. This represents a yield of 1.57%. The ex-dividend date was Thursday, April 24th. Fomento Económico Mexicano's dividend payout ratio (DPR) is presently 11.41%.

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.