Sustainable Growth Advisers LP Sells 22,064 Shares of Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX)

Sustainable Growth Advisers LP lowered its holdings in Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX - Free Report) by 7.5% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 270,487 shares of the company's stock after selling 22,064 shares during the period. Sustainable Growth Advisers LP owned about 0.08% of Fomento Economico Mexicano worth $26,394,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Janney Montgomery Scott LLC acquired a new stake in Fomento Economico Mexicano in the first quarter worth $207,000. Crossmark Global Holdings Inc. increased its position in Fomento Economico Mexicano by 29.3% in the 1st quarter. Crossmark Global Holdings Inc. now owns 26,359 shares of the company's stock valued at $2,572,000 after acquiring an additional 5,977 shares during the period. Cerity Partners LLC increased its position in shares of Fomento Economico Mexicano by 25.4% during the 1st quarter. Cerity Partners LLC now owns 13,778 shares of the company's stock valued at $1,344,000 after purchasing an additional 2,795 shares during the period. Wells Fargo & Company MN increased its position in shares of Fomento Economico Mexicano by 17.0% during the 4th quarter. Wells Fargo & Company MN now owns 28,135 shares of the company's stock valued at $2,405,000 after purchasing an additional 4,096 shares during the period. Finally, GAMMA Investing LLC increased its position in shares of Fomento Economico Mexicano by 27,873.3% during the 1st quarter. GAMMA Investing LLC now owns 20,980 shares of the company's stock valued at $2,047,000 after purchasing an additional 20,905 shares during the period. Hedge funds and other institutional investors own 61.00% of the company's stock.

Fomento Economico Mexicano Stock Up 0.6%

FMX traded up $0.64 during midday trading on Friday, hitting $98.48. The company had a trading volume of 553,516 shares, compared to its average volume of 577,611. Fomento Economico Mexicano S.A.B. de C.V. has a 52 week low of $81.07 and a 52 week high of $114.33. The company has a quick ratio of 1.31, a current ratio of 1.64 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $35.23 billion, a price-to-earnings ratio of 22.03, a PEG ratio of 3.07 and a beta of 0.65. The stock's 50 day moving average price is $103.56 and its 200 day moving average price is $97.71.

Fomento Economico Mexicano (NYSE:FMX - Get Free Report) last posted its quarterly earnings results on Monday, April 28th. The company reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.07). Fomento Economico Mexicano had a net margin of 3.98% and a return on equity of 7.86%. The company had revenue of $9.65 billion during the quarter, compared to the consensus estimate of $194.75 billion. On average, research analysts anticipate 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 business also recently declared a -- dividend, which will be paid on Monday, July 28th. Shareholders of record on Thursday, July 17th will be paid a $1.3625 dividend. This is an increase from Fomento Economico Mexicano's previous -- dividend of $0.73. This represents a yield of 2%. The ex-dividend date is Thursday, July 17th. Fomento Economico Mexicano's payout ratio is 49.22%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Itau BBA Securities upgraded Fomento Economico Mexicano from a "market perform" rating to an "outperform" rating in a report on Monday, April 7th. UBS Group raised their target price on Fomento Economico Mexicano from $112.00 to $115.00 and gave the stock a "neutral" rating in a research report on Thursday, July 10th. Barclays raised their target price on Fomento Economico Mexicano from $102.00 to $108.00 and gave the stock an "equal weight" rating in a research report on Monday, May 12th. Finally, Wall Street Zen cut Fomento Economico Mexicano from a "buy" rating to a "hold" rating in a research report on Wednesday, April 30th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $107.45.

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.