Comgest Global Investors S.A.S. Sells 80,546 Shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Comgest Global Investors S.A.S. lowered its position in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX - Free Report) by 15.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 453,857 shares of the company's stock after selling 80,546 shares during the quarter. Fomento Económico Mexicano comprises approximately 0.6% of Comgest Global Investors S.A.S.'s portfolio, making the stock its 28th largest holding. Comgest Global Investors S.A.S. owned approximately 0.13% of Fomento Económico Mexicano worth $38,800,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Brooklyn Investment Group increased its holdings in shares of Fomento Económico Mexicano by 82.8% in the 4th quarter. Brooklyn Investment Group now owns 340 shares of the company's stock worth $29,000 after buying an additional 154 shares during the last quarter. Mather Group LLC. raised its position in 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 stake in Fomento Económico Mexicano during the fourth quarter worth about $51,000. Rosenberg Matthew Hamilton lifted its stake in Fomento Económico Mexicano by 30.2% during the fourth quarter. Rosenberg Matthew Hamilton now owns 758 shares of the company's stock worth $65,000 after purchasing an additional 176 shares during the last quarter. Finally, UMB Bank n.a. boosted its holdings in shares of Fomento Económico Mexicano by 29.7% in 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. Hedge funds and other institutional investors own 61.00% of the company's stock.

Analyst Ratings Changes

FMX has been the subject of several research reports. The Goldman Sachs Group cut their target price on Fomento Económico Mexicano from $109.00 to $97.80 and set a "buy" rating for the company in a research note on Tuesday, January 28th. Barclays raised their price target on shares of Fomento Económico Mexicano from $99.00 to $102.00 and gave the stock an "equal weight" rating in a report on Tuesday, March 4th. Itau BBA Securities upgraded Fomento Económico Mexicano from a "market perform" rating to an "outperform" rating in a research report on Monday, April 7th. Finally, UBS Group increased their price target on shares of Fomento Económico Mexicano from $94.00 to $107.00 and gave the stock a "neutral" rating in a research note on Friday, March 14th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, Fomento Económico Mexicano presently has an average rating of "Moderate Buy" and an average price target of $103.95.

Fomento Económico Mexicano Stock Up 2.0 %

NYSE FMX traded up $2.04 during trading hours on Friday, reaching $105.83. 370,257 shares of the company's stock traded hands, compared to its average volume of 637,556. The firm has a market cap of $37.87 billion, a PE ratio of 27.14, a PEG ratio of 5.26 and a beta of 0.68. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.62 and a quick ratio of 1.32. Fomento Económico Mexicano, S.A.B. de C.V. has a 52-week low of $81.08 and a 52-week high of $123.09. The firm has a 50-day simple moving average of $96.22 and a 200 day simple moving average of $92.22.

Fomento Económico Mexicano (NYSE:FMX - Get Free Report) last issued its quarterly earnings results on Thursday, February 27th. The company reported $0.46 EPS for the quarter, missing analysts' consensus estimates of $1.51 by ($1.05). The company had revenue of $9.99 billion during the quarter, compared to the consensus estimate of $201.67 billion. Fomento Económico Mexicano had a return on equity of 8.37% and a net margin of 3.22%. Sell-side analysts anticipate that Fomento Económico Mexicano, S.A.B. de C.V. will post 5.32 EPS for the current fiscal year.

Fomento Económico Mexicano Increases Dividend

The company also recently declared a dividend, which will be paid on Monday, May 5th. Stockholders of record on Friday, April 25th will be issued a dividend of $1.628 per share. This is a boost from Fomento Económico Mexicano's previous dividend of $0.92. The ex-dividend date is Thursday, April 24th. This represents a dividend yield of 1.57%. Fomento Económico Mexicano's dividend payout ratio is presently 11.03%.

About Fomento Económico 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.