Envestnet Asset Management Inc. Reduces Position in Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX)

Envestnet Asset Management Inc. decreased its holdings in Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX - Free Report) by 1.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 266,286 shares of the company's stock after selling 4,869 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.07% of Fomento Economico Mexicano worth $25,984,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. FMR LLC boosted its position in Fomento Economico Mexicano by 540.3% during the fourth quarter. FMR LLC now owns 3,147,544 shares of the company's stock valued at $269,084,000 after acquiring an additional 2,655,962 shares during the last quarter. Schroder Investment Management Group boosted its position in Fomento Economico Mexicano by 20.4% during the fourth quarter. Schroder Investment Management Group now owns 4,228,299 shares of the company's stock valued at $360,716,000 after acquiring an additional 717,666 shares during the last quarter. Talaria Asset Management Pty Ltd bought a new stake in Fomento Economico Mexicano during the fourth quarter valued at $47,110,000. Asset Value Investors Ltd bought a new stake in Fomento Economico Mexicano during the fourth quarter valued at $42,793,000. Finally, Nuveen Asset Management LLC boosted its position in Fomento Economico Mexicano by 25.4% during the fourth quarter. Nuveen Asset Management LLC now owns 2,158,614 shares of the company's stock valued at $184,540,000 after acquiring an additional 437,699 shares during the last quarter. Institutional investors own 61.00% of the company's stock.

Fomento Economico Mexicano Trading Down 0.4%

Shares of NYSE FMX traded down $0.41 during midday trading on Friday, hitting $99.89. 190,834 shares of the company traded hands, compared to its average volume of 598,884. 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. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.31 and a current ratio of 1.64. The stock has a 50-day moving average price of $103.87 and a 200 day moving average price of $97.21. The firm has a market cap of $35.74 billion, a P/E ratio of 22.33, a P/E/G ratio of 3.12 and a beta of 0.65.

Fomento Economico Mexicano (NYSE:FMX - Get Free Report) last announced its quarterly earnings data on Monday, April 28th. The company reported $0.45 earnings per share for the quarter, missing analysts' consensus estimates of $0.52 by ($0.07). Fomento Economico Mexicano had a return on equity of 7.86% and a net margin of 3.98%. The business had revenue of $9.65 billion during the quarter, compared to analysts' expectations of $194.75 billion. As a group, 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 business also recently announced a -- dividend, which will be paid on Monday, July 28th. Investors of record on Thursday, July 17th will be issued a $1.3625 dividend. The ex-dividend date is Thursday, July 17th. This represents a yield of 2%. This is a boost from Fomento Economico Mexicano's previous -- dividend of $0.73. Fomento Economico Mexicano's dividend payout ratio (DPR) is currently 11.41%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on FMX shares. UBS Group upped their price objective on shares of Fomento Economico Mexicano from $112.00 to $115.00 and gave the company a "neutral" rating in a report on Thursday, July 10th. 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. Barclays upped their price objective 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, Wall Street Zen lowered shares of Fomento Economico Mexicano from a "buy" rating to a "hold" rating in a report on Wednesday, April 30th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $107.45.

Fomento Economico 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.