WCM Investment Management LLC lessened its position in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX - Free Report) by 13.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 635,633 shares of the company's stock after selling 96,679 shares during the period. WCM Investment Management LLC's holdings in Fomento Económico Mexicano were worth $83,014,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Operose Advisors LLC bought a new position in Fomento Económico Mexicano during the third quarter valued at approximately $29,000. Advisory Services Network LLC increased its holdings in Fomento Económico Mexicano by 44.3% during the first quarter. Advisory Services Network LLC now owns 342 shares of the company's stock valued at $33,000 after buying an additional 105 shares during the last quarter. Brown Brothers Harriman & Co. increased its holdings in Fomento Económico Mexicano by 117.0% during the first quarter. Brown Brothers Harriman & Co. now owns 421 shares of the company's stock valued at $35,000 after buying an additional 227 shares during the last quarter. Assetmark Inc. purchased a new stake in Fomento Económico Mexicano during the third quarter valued at approximately $36,000. Finally, Castleview Partners LLC increased its holdings in Fomento Económico Mexicano by 51.2% during the second quarter. Castleview Partners LLC now owns 434 shares of the company's stock valued at $48,000 after buying an additional 147 shares during the last quarter.
Fomento Económico Mexicano Price Performance
Shares of NYSE FMX traded down $1.09 during midday trading on Friday, reaching $124.24. The stock had a trading volume of 635,214 shares, compared to its average volume of 746,672. The stock has a 50-day moving average of $129.20 and a 200-day moving average of $124.74. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.60 and a current ratio of 1.91. The company has a market capitalization of $44.46 billion, a price-to-earnings ratio of 11.68, a price-to-earnings-growth ratio of 0.95 and a beta of 0.94. Fomento Económico Mexicano, S.A.B. de C.V. has a 12-month low of $91.71 and a 12-month high of $143.43.
Fomento Económico Mexicano (NYSE:FMX - Get Free Report) last posted its earnings results on Friday, February 23rd. The company reported $1.07 earnings per share for the quarter. The company had revenue of $11.23 billion during the quarter, compared to analysts' expectations of $11.21 billion. Fomento Económico Mexicano had a net margin of 8.53% and a return on equity of 9.63%. As a group, research analysts anticipate that Fomento Económico Mexicano, S.A.B. de C.V. will post 5.7 EPS for the current fiscal year.
Fomento Económico Mexicano Increases Dividend
The business also recently announced an annual dividend, which will be paid on Monday, April 29th. Investors of record on Wednesday, April 17th will be paid a dividend of $1.115 per share. This represents a yield of 0.87%. This is a boost from Fomento Económico Mexicano's previous annual dividend of $0.74. The ex-dividend date of this dividend is Tuesday, April 16th. Fomento Económico Mexicano's dividend payout ratio (DPR) is presently 6.11%.
Analyst Upgrades and Downgrades
A number of analysts have commented on the stock. HSBC raised shares of Fomento Económico Mexicano from a "hold" rating to a "buy" rating and upped their target price for the company from $124.00 to $152.00 in a report on Friday, February 9th. UBS Group cut shares of Fomento Económico Mexicano from a "buy" rating to a "neutral" rating in a report on Friday, January 12th. StockNews.com cut shares of Fomento Económico Mexicano from a "buy" rating to a "hold" rating in a research note on Monday, February 26th. Finally, Bank of America reissued a "neutral" rating on shares of Fomento Económico Mexicano in a research note on Monday, February 26th. Five research 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 company presently has an average rating of "Hold" and a consensus price target of $135.75.
Read Our Latest Research Report on FMX
About Fomento Económico Mexicano
(
Free Report)
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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