Schonfeld Strategic Advisors LLC Cuts Stock Holdings in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Schonfeld Strategic Advisors LLC cut its holdings in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX - Free Report) by 87.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,395 shares of the company's stock after selling 17,009 shares during the quarter. Schonfeld Strategic Advisors LLC's holdings in Fomento Económico Mexicano were worth $205,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in FMX. Park Avenue Securities LLC purchased a new stake in Fomento Económico Mexicano during the fourth quarter worth about $225,000. Wells Fargo & Company MN boosted its holdings in Fomento Económico Mexicano by 17.0% during the fourth quarter. Wells Fargo & Company MN now owns 28,135 shares of the company's stock worth $2,405,000 after buying an additional 4,096 shares in the last quarter. Sarasin & Partners LLP boosted its holdings in Fomento Económico Mexicano by 33.3% during the fourth quarter. Sarasin & Partners LLP now owns 20,000 shares of the company's stock worth $1,710,000 after buying an additional 5,000 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in Fomento Económico Mexicano by 141.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 135,003 shares of the company's stock worth $11,541,000 after buying an additional 79,181 shares in the last quarter. Finally, American Century Companies Inc. boosted its holdings in Fomento Económico Mexicano by 1.9% during the fourth quarter. American Century Companies Inc. now owns 250,188 shares of the company's stock worth $21,389,000 after buying an additional 4,674 shares in the last quarter. 61.00% of the stock is currently owned by institutional investors and hedge funds.

Fomento Económico Mexicano Trading Up 3.5%

Shares of NYSE:FMX traded up $3.64 during trading on Monday, reaching $107.04. The stock had a trading volume of 492,904 shares, compared to its average volume of 621,151. The business has a fifty day moving average price of $100.87 and a 200-day moving average price of $93.00. The company has a quick ratio of 1.32, a current ratio of 1.62 and a debt-to-equity ratio of 0.37. The stock has a market cap of $38.30 billion, a P/E ratio of 27.45, a PEG ratio of 5.26 and a beta of 0.69. 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 $120.15.

Fomento Económico Mexicano (NYSE:FMX - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $9.65 billion during the quarter, compared to analyst estimates of $194.75 billion. Fomento Económico Mexicano had a net margin of 3.22% and a return on equity of 8.37%. As a group, 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 business also recently declared a dividend, which was paid on Monday, May 5th. Shareholders of record on Friday, April 25th were paid a dividend of $1.628 per share. The ex-dividend date of this dividend was Thursday, April 24th. This represents a yield of 1.57%. This is an increase from Fomento Económico Mexicano's previous dividend of $0.92. Fomento Económico Mexicano's dividend payout ratio (DPR) is currently 11.41%.

Wall Street Analyst Weigh In

Several analysts have issued reports on FMX shares. 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. Barclays upped their price target on shares of Fomento Económico Mexicano from $102.00 to $108.00 and gave the company an "equal weight" rating in a report on Monday, May 12th. The Goldman Sachs Group reduced 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 upped their price target on shares of Fomento Económico Mexicano from $107.00 to $112.00 and gave the company a "neutral" rating in a report on Thursday. Finally, StockNews.com lowered shares of Fomento Económico Mexicano from a "buy" rating to a "hold" rating in a research report on Wednesday, April 30th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $106.70.

Fomento Económico Mexicano 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.