Ninety One North America Inc. Sells 10,014 Shares of Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX)

Ninety One North America Inc. lessened its holdings in Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX - Free Report) by 4.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 240,408 shares of the company's stock after selling 10,014 shares during the period. Fomento Economico Mexicano comprises approximately 1.6% of Ninety One North America Inc.'s holdings, making the stock its 26th biggest holding. Ninety One North America Inc. owned about 0.07% of Fomento Economico Mexicano worth $23,459,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Crossmark Global Holdings Inc. increased its position in shares of Fomento Economico Mexicano by 29.3% in the 1st quarter. Crossmark Global Holdings Inc. now owns 26,359 shares of the company's stock worth $2,572,000 after purchasing an additional 5,977 shares during the last quarter. Keybank National Association OH boosted its holdings in shares of Fomento Economico Mexicano by 1.9% in the 1st quarter. Keybank National Association OH now owns 18,761 shares of the company's stock valued at $1,831,000 after buying an additional 353 shares during the period. Perpetual Ltd boosted its stake in Fomento Economico Mexicano by 5.7% during the 1st quarter. Perpetual Ltd now owns 977,342 shares of the company's stock valued at $95,369,000 after purchasing an additional 52,673 shares during the period. Robeco Institutional Asset Management B.V. boosted its stake in Fomento Economico Mexicano by 27.3% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 833,238 shares of the company's stock valued at $81,307,000 after purchasing an additional 178,460 shares during the period. Finally, Value Partners Investments Inc. acquired a new position in Fomento Economico Mexicano during the 1st quarter valued at about $9,339,000. Hedge funds and other institutional investors own 61.00% of the company's stock.

Fomento Economico Mexicano Price Performance

FMX stock traded down $0.91 on Thursday, hitting $101.55. 656,017 shares of the company's stock traded hands, compared to its average volume of 598,572. Fomento Economico Mexicano S.A.B. de C.V. has a 1-year low of $81.08 and a 1-year high of $119.18. The stock has a market cap of $36.33 billion, a price-to-earnings ratio of 22.72, a P/E/G ratio of 3.29 and a beta of 0.65. The stock has a fifty day moving average of $104.15 and a 200-day moving average of $96.68. The company has a current ratio of 1.64, a quick ratio of 1.31 and a debt-to-equity ratio of 0.34.

Fomento Economico Mexicano (NYSE:FMX - Get Free Report) last released 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 Economico Mexicano had a net margin of 3.98% and a return on equity of 7.86%. 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 Economico Mexicano S.A.B. de C.V. will post 5.32 EPS for the current fiscal year.

Fomento Economico Mexicano Increases Dividend

The company also recently declared a -- dividend, which will be paid on Monday, July 28th. Stockholders of record on Thursday, July 17th will be issued a dividend of $1.3625 per share. The ex-dividend date of this dividend is Thursday, July 17th. This represents a dividend yield of 2%. This is a positive change from Fomento Economico Mexicano's previous -- dividend of $0.73. Fomento Economico Mexicano's payout ratio is currently 11.41%.

Wall Street Analyst Weigh In

FMX has been the subject of a number of research analyst reports. Wall Street Zen lowered shares of Fomento Economico Mexicano from a "buy" rating to a "hold" rating in a research note on Wednesday, April 30th. Barclays upped their price target on shares of Fomento Economico Mexicano from $102.00 to $108.00 and gave the stock an "equal weight" rating in a research note on Monday, May 12th. Itau BBA Securities raised shares of Fomento Economico Mexicano from a "market perform" rating to an "outperform" rating in a research note on Monday, April 7th. Finally, UBS Group upped their price target on shares of Fomento Economico Mexicano from $112.00 to $115.00 and gave the stock a "neutral" rating in a research note on Thursday. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target 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.