USS Investment Management Ltd Sells 165,027 Shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

USS Investment Management Ltd cut its stake in shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX - Free Report) by 37.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 275,210 shares of the company's stock after selling 165,027 shares during the period. USS Investment Management Ltd owned about 0.08% of Fomento Económico Mexicano worth $23,524,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of FMX. Franklin Resources Inc. boosted its position in shares of Fomento Económico Mexicano by 4.2% during 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. Brooklyn Investment Group boosted its position in shares of Fomento Económico Mexicano by 82.8% during the 4th quarter. Brooklyn Investment Group now owns 340 shares of the company's stock worth $29,000 after purchasing an additional 154 shares in the last quarter. UMB Bank n.a. boosted its position in shares of Fomento Económico Mexicano by 29.7% during the 4th quarter. UMB Bank n.a. now owns 887 shares of the company's stock worth $76,000 after purchasing an additional 203 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its position 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 worth $429,000 after purchasing an additional 274 shares in the last quarter. Finally, Atomi Financial Group Inc. boosted its position in shares of Fomento Económico Mexicano by 13.5% during the 4th quarter. Atomi Financial Group Inc. now owns 2,800 shares of the company's stock worth $239,000 after purchasing an additional 334 shares in the last quarter. 61.00% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

FMX has been the topic of a number of research analyst reports. StockNews.com cut shares of Fomento Económico Mexicano from a "buy" rating to a "hold" rating in a research report on Wednesday, April 30th. UBS Group raised their price target on shares of Fomento Económico Mexicano from $107.00 to $112.00 and gave the company a "neutral" rating in a research report on Thursday, May 15th. Itau BBA Securities raised shares of Fomento Económico Mexicano from a "market perform" rating to an "outperform" rating in a research report on Monday, April 7th. Barclays increased their price objective on shares of Fomento Económico Mexicano from $102.00 to $108.00 and gave the company an "equal weight" rating in a research note on Monday, May 12th. Finally, The Goldman Sachs Group dropped their price target on Fomento Económico Mexicano from $109.00 to $97.80 and set a "buy" rating on the stock in a report on Tuesday, January 28th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $106.70.

Fomento Económico Mexicano Price Performance

Shares of NYSE:FMX opened at $107.04 on Tuesday. The company's 50-day moving average is $100.87 and its 200 day moving average is $93.00. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.32 and a current ratio of 1.62. The company has a market capitalization of $38.30 billion, a P/E ratio of 27.45, a price-to-earnings-growth ratio of 5.26 and a beta of 0.69. Fomento Económico Mexicano, S.A.B. de C.V. has a fifty-two week low of $81.08 and a fifty-two week high of $120.15.

Fomento Económico Mexicano (NYSE:FMX - Get Free Report) last released its quarterly earnings data on Monday, April 28th. The company reported $0.45 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.07). The business had revenue of $9.65 billion for the quarter, compared to analysts' expectations of $194.75 billion. Fomento Económico Mexicano had a net margin of 3.22% and a return on equity of 8.37%. On average, equities research analysts forecast 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 business also recently disclosed 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. This represents a dividend yield of 1.57%. This is a positive change from Fomento Económico Mexicano's previous dividend of $0.92. The ex-dividend date of this dividend was Thursday, April 24th. Fomento Económico Mexicano's payout ratio is presently 11.41%.

Fomento Económico Mexicano Company 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.

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