FORA Capital LLC Reduces Stock Position in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

FORA Capital LLC reduced its stake in shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX - Free Report) by 71.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,568 shares of the company's stock after selling 13,910 shares during the quarter. FORA Capital LLC's holdings in Fomento Económico Mexicano were worth $476,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Bridgefront Capital LLC acquired a new stake in shares of Fomento Económico Mexicano during the 4th quarter worth approximately $246,000. Cary Street Partners Financial LLC purchased a new stake in Fomento Económico Mexicano during the fourth quarter worth $2,897,000. Banque Transatlantique SA acquired a new stake in Fomento Económico Mexicano during the fourth quarter valued at $44,000. BNP Paribas Financial Markets increased its holdings in Fomento Económico Mexicano by 24.0% in the fourth quarter. BNP Paribas Financial Markets now owns 404,738 shares of the company's stock valued at $34,601,000 after buying an additional 78,436 shares in the last quarter. Finally, AREX Capital Management LP acquired a new position in shares of Fomento Económico Mexicano in the fourth quarter worth about $278,000. 61.00% of the stock is owned by institutional investors and hedge funds.

Fomento Económico Mexicano Price Performance

NYSE:FMX traded up $2.10 during trading hours on Tuesday, hitting $101.95. 667,047 shares of the stock were exchanged, compared to its average volume of 624,715. The firm's fifty day moving average price is $100.26 and its 200 day moving average price is $92.78. Fomento Económico Mexicano, S.A.B. de C.V. has a 52-week low of $81.08 and a 52-week high of $123.03. The company has a market cap of $36.48 billion, a P/E ratio of 26.14, a P/E/G ratio of 5.26 and a beta of 0.69. 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 issued its quarterly earnings results on Monday, April 28th. The company reported $0.45 EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts' expectations of $194.75 billion. As a group, equities research 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 firm also recently announced a dividend, which was paid on Monday, May 5th. Stockholders 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. The ex-dividend date was Thursday, April 24th. This represents a dividend yield of 1.57%. Fomento Económico Mexicano's dividend payout ratio is presently 11.41%.

Analysts Set New Price Targets

A number of research firms have recently commented on FMX. UBS Group raised their target price on Fomento Económico Mexicano from $94.00 to $107.00 and gave the company a "neutral" rating in a research report on Friday, March 14th. StockNews.com cut Fomento Económico Mexicano from a "buy" rating to a "hold" rating in a research report on Wednesday, April 30th. The Goldman Sachs Group reduced 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 increased their target price on Fomento Económico Mexicano from $102.00 to $108.00 and gave the company an "equal weight" rating in a research report on Monday. Finally, Itau BBA Securities raised shares of Fomento Económico Mexicano from a "market perform" rating to an "outperform" rating in a 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's stock. According to data from MarketBeat.com, Fomento Económico Mexicano currently has an average rating of "Hold" and an average target price of $105.45.

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.