Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) Shares Sold by Ninety One North America Inc.

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

A number of other institutional investors have also bought and sold shares of the business. Franklin Resources Inc. lifted its stake in Fomento Economico 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 purchasing an additional 125 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its holdings in shares of Fomento Economico Mexicano by 5.8% in 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 last quarter. Parallel Advisors LLC boosted its position in shares of Fomento Economico Mexicano by 56.2% during the 1st quarter. Parallel Advisors LLC now owns 831 shares of the company's stock valued at $81,000 after acquiring an additional 299 shares during the last quarter. Fifth Third Bancorp grew its holdings in shares of Fomento Economico Mexicano by 1.3% in the first quarter. Fifth Third Bancorp now owns 26,474 shares of the company's stock valued at $2,583,000 after purchasing an additional 340 shares during the period. Finally, Keybank National Association OH grew its holdings in shares of Fomento Economico Mexicano by 1.9% in the first quarter. Keybank National Association OH now owns 18,761 shares of the company's stock valued at $1,831,000 after purchasing an additional 353 shares during the period. 61.00% of the stock is owned by hedge funds and other institutional investors.

Fomento Economico Mexicano Trading Down 0.2%

FMX stock traded down $0.23 during mid-day trading on Monday, hitting $105.47. 453,602 shares of the company were exchanged, compared to its average volume of 600,648. 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 firm has a market capitalization of $37.74 billion, a P/E ratio of 23.60, a PEG ratio of 3.72 and a beta of 0.65. The business has a fifty day simple moving average of $104.25 and a 200-day simple moving average of $96.46. 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.

Fomento Economico Mexicano (NYSE:FMX - Get Free Report) last released its quarterly earnings results on Monday, April 28th. The company reported $0.45 EPS 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 firm had revenue of $9.65 billion for the quarter, compared to analyst estimates of $194.75 billion. On average, equities 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 company also recently announced a dividend, which was paid on Monday, May 5th. Investors of record on Friday, April 25th were issued a dividend of $1.628 per share. This represents a yield of 1.57%. This is a boost from Fomento Economico Mexicano's previous dividend of $0.92. The ex-dividend date of this dividend was Thursday, April 24th. Fomento Economico Mexicano's dividend payout ratio (DPR) is 11.41%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on FMX. 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. UBS Group increased their price objective on Fomento Economico 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 cut Fomento Economico Mexicano from a "buy" rating to a "hold" rating in a research note on Wednesday, April 30th. Finally, Barclays upped their price target on Fomento Economico Mexicano from $102.00 to $108.00 and gave the company an "equal weight" rating in a research note on Monday, May 12th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Fomento Economico Mexicano currently has a consensus rating of "Hold" and an average price target of $106.70.

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.