Vident Advisory LLC Trims Holdings in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Vident Advisory LLC reduced its holdings in shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX - Free Report) by 31.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,443 shares of the company's stock after selling 2,544 shares during the quarter. Vident Advisory LLC's holdings in Fomento Económico Mexicano were worth $465,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Banque Transatlantique SA bought a new position in shares of Fomento Económico Mexicano during the fourth quarter valued at about $44,000. Mather Group LLC. lifted its position in shares of Fomento Económico Mexicano by 179.1% during the fourth quarter. Mather Group LLC. now owns 575 shares of the company's stock valued at $49,000 after purchasing an additional 369 shares in the last quarter. Exchange Traded Concepts LLC bought a new position in shares of Fomento Económico Mexicano during the fourth quarter valued at about $51,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Fomento Económico Mexicano during the fourth quarter valued at about $72,000. Finally, R Squared Ltd bought a new position in shares of Fomento Económico Mexicano during the fourth quarter valued at about $118,000. 61.00% of the stock is currently owned by institutional investors and hedge funds.

Fomento Económico Mexicano Trading Down 0.9%

Shares of Fomento Económico Mexicano stock traded down $1.02 during trading on Friday, reaching $106.42. The company's stock had a trading volume of 493,029 shares, compared to its average volume of 617,795. Fomento Económico Mexicano, S.A.B. de C.V. has a 52-week low of $81.08 and a 52-week high of $119.18. The company has a market cap of $38.08 billion, a price-to-earnings ratio of 27.29, a PEG ratio of 5.26 and a beta of 0.69. The firm's 50-day moving average is $102.41 and its two-hundred day moving average is $93.71. The company has a quick ratio of 1.32, a current ratio of 1.62 and a debt-to-equity ratio of 0.37.

Fomento Económico Mexicano (NYSE:FMX - Get Free Report) last posted 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 Económico Mexicano had a net margin of 3.22% and a return on equity of 8.37%. The firm had revenue of $9.65 billion for the quarter, compared to the consensus estimate of $194.75 billion. On average, sell-side 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. Investors of record on Friday, April 25th were issued a dividend of $1.628 per share. This is a positive change from Fomento Económico Mexicano's previous dividend of $0.92. This represents a yield of 1.57%. The ex-dividend date was Thursday, April 24th. Fomento Económico Mexicano's dividend payout ratio is currently 11.41%.

Analysts Set New Price Targets

FMX has been the topic of a number of recent analyst reports. Barclays raised their price target on shares of 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. UBS Group lifted their price objective on shares of Fomento Económico Mexicano from $107.00 to $112.00 and gave the stock 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. Finally, Wall Street Zen lowered shares of Fomento Económico Mexicano from a "buy" rating to a "hold" rating in a research report on Wednesday, April 30th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $106.70.

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.