Itau Unibanco Holding S.A. Has $46.28 Million Stake in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Itau Unibanco Holding S.A. reduced its stake in shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX - Free Report) by 32.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 541,396 shares of the company's stock after selling 260,433 shares during the period. Fomento Económico Mexicano comprises approximately 1.5% of Itau Unibanco Holding S.A.'s holdings, making the stock its 16th biggest position. Itau Unibanco Holding S.A. owned 0.15% of Fomento Económico Mexicano worth $46,281,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Barclays lifted their price target on Fomento Económico Mexicano from $99.00 to $102.00 and gave the company an "equal weight" rating in a research report on Tuesday, March 4th. UBS Group raised their price objective on shares of 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 downgraded shares of Fomento Económico Mexicano from a "buy" rating to a "hold" rating in a report on Wednesday, April 30th. The Goldman Sachs Group reduced their target price on shares of Fomento Económico Mexicano from $109.00 to $97.80 and set a "buy" rating for the company in a report on Tuesday, January 28th. Finally, Itau BBA Securities upgraded Fomento Económico Mexicano from a "market perform" rating to an "outperform" rating in a report on Monday, April 7th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Fomento Económico Mexicano presently has an average rating of "Hold" and an average target price of $103.95.

Fomento Económico Mexicano Stock Performance

Shares of Fomento Económico Mexicano stock traded up $0.63 during midday trading on Tuesday, hitting $101.36. The company had a trading volume of 145,412 shares, compared to its average volume of 622,612. 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 1-year low of $81.08 and a 1-year high of $123.09. The business's 50 day simple moving average is $99.44 and its two-hundred day simple moving average is $92.61. The stock has a market cap of $36.27 billion, a PE ratio of 25.99, a P/E/G ratio of 5.26 and a beta of 0.69.

Fomento Económico Mexicano (NYSE:FMX - Get Free Report) last posted its quarterly earnings results on Monday, April 28th. The company reported $0.45 earnings per share for the quarter, missing analysts' consensus estimates of $0.52 by ($0.07). The business had revenue of $9.65 billion for the quarter, compared to analyst estimates of $194.75 billion. Fomento Económico Mexicano had a return on equity of 8.37% and a net margin of 3.22%. As a group, equities analysts predict 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 business also recently disclosed a dividend, which was paid on Monday, May 5th. Shareholders of record on Friday, April 25th were given a $1.628 dividend. This represents a yield of 1.57%. The ex-dividend date was Thursday, April 24th. This is a boost from Fomento Económico Mexicano's previous dividend of $0.92. Fomento Económico Mexicano's dividend payout ratio (DPR) 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.