USS Investment Management Ltd trimmed its position in shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX - Free Report) by 37.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 275,210 shares of the company's stock after selling 165,027 shares during the quarter. USS Investment Management Ltd owned approximately 0.08% of Fomento Económico Mexicano worth $23,524,000 at the end of the most recent quarter.
Several other large investors have also bought and sold shares of FMX. Barclays PLC boosted its position in Fomento Económico Mexicano by 78.2% during the 3rd quarter. Barclays PLC now owns 72,159 shares of the company's stock valued at $7,123,000 after acquiring an additional 31,656 shares in the last quarter. Park Avenue Securities LLC bought a new stake in Fomento Económico Mexicano during the 4th quarter valued at approximately $225,000. Brooklyn Investment Group boosted its position in Fomento Económico Mexicano by 82.8% during the 4th quarter. Brooklyn Investment Group now owns 340 shares of the company's stock valued at $29,000 after acquiring an additional 154 shares in the last quarter. Sarasin & Partners LLP boosted its position in Fomento Económico Mexicano by 33.3% during the 4th quarter. Sarasin & Partners LLP now owns 20,000 shares of the company's stock valued at $1,710,000 after acquiring an additional 5,000 shares in the last quarter. Finally, UMB Bank n.a. boosted its position in Fomento Económico Mexicano by 29.7% during the 4th quarter. UMB Bank n.a. now owns 887 shares of the company's stock valued at $76,000 after acquiring an additional 203 shares in the last quarter. 61.00% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
A number of analysts have recently commented on the company. UBS Group boosted their price target 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 lowered Fomento Económico Mexicano from a "buy" rating to a "hold" rating in a report on Wednesday, April 30th. Barclays boosted their price objective on Fomento Económico Mexicano from $102.00 to $108.00 and gave the company an "equal weight" rating in a research report on Monday, May 12th. The Goldman Sachs Group lowered their price objective on Fomento Económico Mexicano from $109.00 to $97.80 and set a "buy" rating on the stock in a research report on Tuesday, January 28th. Finally, Itau BBA Securities upgraded Fomento Económico Mexicano from a "market perform" rating to an "outperform" rating in a research report on Monday, April 7th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, Fomento Económico Mexicano has a consensus rating of "Hold" and an average price target of $106.70.
Check Out Our Latest Analysis on FMX
Fomento Económico Mexicano Price Performance
Shares of Fomento Económico Mexicano stock traded up $0.85 during trading hours on Friday, hitting $106.71. The company's stock had a trading volume of 450,402 shares, compared to its average volume of 618,335. The business has a 50 day moving average price of $101.50 and a two-hundred day moving average price of $93.31. Fomento Económico 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 market cap of $38.18 billion, a PE ratio of 27.36, a PEG ratio of 5.26 and a beta of 0.69. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.32 and a current ratio of 1.62.
Fomento Económico Mexicano (NYSE:FMX - Get Free Report) last posted its 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 Económico Mexicano had a return on equity of 8.37% and a net margin of 3.22%. The firm had revenue of $9.65 billion during the quarter, compared to analysts' expectations of $194.75 billion. Analysts expect that Fomento Económico Mexicano, S.A.B. de C.V. will post 5.32 earnings per share for the current fiscal year.
Fomento Económico Mexicano Increases Dividend
The company also recently declared a dividend, which was paid on Monday, May 5th. Investors of record on Friday, April 25th were paid a dividend of $1.628 per share. The ex-dividend date was Thursday, April 24th. This is a positive change from Fomento Económico Mexicano's previous dividend of $0.92. This represents a yield of 1.57%. Fomento Económico Mexicano's dividend payout ratio is presently 11.41%.
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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