Russell Investments Group Ltd. Has $3.74 Million Holdings in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Russell Investments Group Ltd. reduced its stake in shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX - Free Report) by 45.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 43,761 shares of the company's stock after selling 36,225 shares during the quarter. Russell Investments Group Ltd.'s holdings in Fomento Económico Mexicano were worth $3,735,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Franklin Resources Inc. grew its holdings in shares of Fomento Económico Mexicano by 4.2% during the 4th quarter. Franklin Resources Inc. now owns 3,117 shares of the company's stock valued at $266,000 after acquiring an additional 125 shares in the last quarter. Stifel Financial Corp increased its position in Fomento Económico Mexicano by 1.2% in the 3rd quarter. Stifel Financial Corp now owns 12,479 shares of the company's stock worth $1,232,000 after purchasing an additional 149 shares during the last quarter. Brooklyn Investment Group raised its stake in shares of Fomento Económico Mexicano by 82.8% during the 4th quarter. Brooklyn Investment Group now owns 340 shares of the company's stock worth $29,000 after purchasing an additional 154 shares in the last quarter. Rosenberg Matthew Hamilton lifted its holdings in shares of Fomento Económico Mexicano by 30.2% during the 4th quarter. Rosenberg Matthew Hamilton now owns 758 shares of the company's stock valued at $65,000 after buying an additional 176 shares during the last quarter. Finally, UMB Bank n.a. grew its stake 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 valued at $76,000 after buying an additional 203 shares in the last quarter. 61.00% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on FMX. 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 research note on Tuesday, January 28th. Itau BBA Securities upgraded Fomento Económico Mexicano from a "market perform" rating to an "outperform" rating in a report on Monday, April 7th. Barclays upped their price target on Fomento Económico Mexicano from $99.00 to $102.00 and gave the stock an "equal weight" rating in a research note on Tuesday, March 4th. Finally, UBS Group raised their price objective on Fomento Económico Mexicano from $94.00 to $107.00 and gave the company a "neutral" rating in a research note on Friday, March 14th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Fomento Económico Mexicano presently has a consensus rating of "Moderate Buy" and a consensus price target of $103.95.

Fomento Económico Mexicano Stock Performance

Shares of NYSE:FMX traded down $1.21 during midday trading on Monday, hitting $104.61. The company's stock had a trading volume of 536,831 shares, compared to its average volume of 629,564. Fomento Económico Mexicano, S.A.B. de C.V. has a fifty-two week low of $81.08 and a fifty-two week high of $123.09. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.32 and a current ratio of 1.62. The stock has a market capitalization of $37.43 billion, a price-to-earnings ratio of 26.82, a PEG ratio of 5.26 and a beta of 0.68. The stock's 50 day simple moving average is $96.54 and its 200 day simple moving average is $92.16.

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 the consensus estimate of $1.51 by ($1.05). The business 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%. As a group, research analysts anticipate that Fomento Económico Mexicano, S.A.B. de C.V. will post 5.32 earnings per share for the current year.

Fomento Económico Mexicano Increases Dividend

The business also recently declared a dividend, which will be paid on Monday, May 5th. Shareholders of record on Friday, April 25th will be given a $1.628 dividend. This represents a yield of 1.57%. This is a positive change from Fomento Económico Mexicano's previous dividend of $0.92. The ex-dividend date is Thursday, April 24th. Fomento Económico Mexicano's dividend payout ratio (DPR) is currently 11.75%.

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.