Sarasin & Partners LLP cut its holdings in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX - Free Report) by 25.0% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 15,000 shares of the company's stock after selling 5,000 shares during the quarter. Sarasin & Partners LLP's holdings in Fomento Económico Mexicano were worth $1,481,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. Franklin Resources Inc. boosted 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 purchasing an additional 125 shares during the period. Mitsubishi UFJ Trust & Banking Corp raised its holdings in shares of Fomento Económico Mexicano by 5.8% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 5,015 shares of the company's stock valued at $429,000 after buying an additional 274 shares in the last quarter. Parallel Advisors LLC raised its holdings in shares of Fomento Económico 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 buying an additional 299 shares in the last quarter. Mather Group LLC. grew its position in Fomento Económico Mexicano by 179.1% during the 4th quarter. Mather Group LLC. now owns 575 shares of the company's stock worth $49,000 after acquiring an additional 369 shares during the last quarter. Finally, NewEdge Advisors LLC increased its stake in Fomento Económico Mexicano by 9.7% in the 4th quarter. NewEdge Advisors LLC now owns 4,328 shares of the company's stock worth $370,000 after purchasing an additional 382 shares during the period. 61.00% of the stock is owned by institutional investors and hedge funds.
Fomento Económico Mexicano Price Performance
Shares of NYSE FMX traded up $1.04 during midday trading on Thursday, reaching $105.90. 258,823 shares of the stock traded hands, compared to its average volume of 609,120. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.62 and a quick ratio of 1.32. The stock has a market capitalization of $37.89 billion, a PE ratio of 27.15, a P/E/G ratio of 5.26 and a beta of 0.69. Fomento Económico Mexicano, S.A.B. de C.V. has a one year low of $81.08 and a one year high of $119.18. The company's 50 day moving average is $102.83 and its 200 day moving average is $94.01.
Fomento Económico Mexicano (NYSE:FMX - Get Free Report) last released 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 Económico Mexicano had a net margin of 3.22% and a return on equity of 8.37%. The company had revenue of $9.65 billion for the quarter, compared to analysts' expectations of $194.75 billion. On average, equities research analysts anticipate 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 company also recently declared a dividend, which was paid on Monday, May 5th. Stockholders of record on Friday, April 25th were given a dividend of $1.628 per share. This is an increase from Fomento Económico Mexicano's previous dividend of $0.92. The ex-dividend date of this dividend was Thursday, April 24th. This represents a dividend yield of 1.57%. Fomento Económico Mexicano's dividend payout ratio is presently 11.41%.
Analysts Set New Price Targets
A number of equities research analysts have recently weighed in on FMX shares. UBS Group lifted their price objective 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 cut shares of Fomento Económico Mexicano from a "buy" rating to a "hold" rating in a report on Wednesday, April 30th. Itau BBA Securities upgraded shares of Fomento Económico Mexicano from a "market perform" rating to an "outperform" rating in a report on Monday, April 7th. Finally, Barclays upped their price target on shares of Fomento Económico Mexicano from $102.00 to $108.00 and gave the stock an "equal weight" rating in a research note 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 data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $106.70.
Get Our Latest Research Report on FMX
About Fomento Económico Mexicano
(
Free Report)
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.
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