Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) Shares Sold by Ethic Inc.

Ethic Inc. lowered its stake in shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX - Free Report) by 31.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,922 shares of the company's stock after selling 4,117 shares during the period. Ethic Inc.'s holdings in Fomento Económico Mexicano were worth $763,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. First Eagle Investment Management LLC grew its holdings in shares of Fomento Económico Mexicano by 20.5% during the fourth quarter. First Eagle Investment Management LLC now owns 12,655,733 shares of the company's stock worth $1,081,939,000 after buying an additional 2,150,913 shares in the last quarter. Baillie Gifford & Co. lifted its stake in shares of Fomento Económico Mexicano by 0.4% during the 4th quarter. Baillie Gifford & Co. now owns 4,325,489 shares of the company's stock worth $369,786,000 after purchasing an additional 18,750 shares during the period. Schroder Investment Management Group lifted its stake in shares of Fomento Económico Mexicano by 20.4% during the 4th quarter. Schroder Investment Management Group now owns 4,228,299 shares of the company's stock worth $360,716,000 after purchasing an additional 717,666 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Fomento Económico Mexicano by 6.8% during the fourth quarter. JPMorgan Chase & Co. now owns 3,238,177 shares of the company's stock worth $276,832,000 after purchasing an additional 205,981 shares during the last quarter. Finally, FMR LLC grew its position in shares of Fomento Económico Mexicano by 540.3% in the fourth quarter. FMR LLC now owns 3,147,544 shares of the company's stock valued at $269,084,000 after purchasing an additional 2,655,962 shares during the period. Hedge funds and other institutional investors own 61.00% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Itau BBA Securities upgraded Fomento Económico Mexicano from a "market perform" rating to an "outperform" rating in a research report on Monday, April 7th. The Goldman Sachs Group decreased their price target on shares of Fomento Económico Mexicano from $109.00 to $97.80 and set a "buy" rating on the stock in a report on Tuesday, January 28th. UBS Group lifted their target price on Fomento Económico Mexicano from $94.00 to $107.00 and gave the company a "neutral" rating in a report on Friday, March 14th. StockNews.com downgraded Fomento Económico Mexicano from a "buy" rating to a "hold" rating in a report on Wednesday, April 30th. Finally, Barclays boosted their target price on Fomento Económico Mexicano from $102.00 to $108.00 and gave the stock an "equal weight" rating in a report on Monday. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $105.45.

Fomento Económico Mexicano Price Performance

Shares of FMX stock opened at $102.52 on Thursday. The firm has a fifty day simple moving average of $100.45 and a 200-day simple moving average of $92.91. The company has a market capitalization of $36.68 billion, a PE ratio of 26.29, 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 twelve month low of $81.08 and a twelve month high of $123.03. The company has a current ratio of 1.62, a quick ratio of 1.32 and a debt-to-equity ratio of 0.37.

Fomento Económico Mexicano (NYSE:FMX - Get Free Report) last announced its 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 business had revenue of $9.65 billion for the quarter, compared to analyst estimates of $194.75 billion. Equities research analysts anticipate 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 firm also recently disclosed a dividend, which was paid on Monday, May 5th. Shareholders of record on Friday, April 25th were issued a dividend of $1.628 per share. The ex-dividend date of this dividend was Thursday, April 24th. This is an increase from Fomento Económico Mexicano's previous dividend of $0.92. This represents a yield of 1.57%. Fomento Económico Mexicano's payout ratio is currently 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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