Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) Shares Sold by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. lowered its position in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX - Free Report) by 68.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 97,506 shares of the company's stock after selling 216,096 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.'s holdings in Fomento Económico Mexicano were worth $8,336,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Baillie Gifford & Co. increased its position in shares of Fomento Económico Mexicano by 0.4% in the 4th quarter. Baillie Gifford & Co. now owns 4,325,489 shares of the company's stock worth $369,786,000 after purchasing an additional 18,750 shares during the last quarter. Perpetual Ltd increased its position in shares of Fomento Económico Mexicano by 23.8% in the 4th quarter. Perpetual Ltd now owns 924,669 shares of the company's stock worth $79,050,000 after purchasing an additional 177,843 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its position in shares of Fomento Económico Mexicano by 12.8% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 654,778 shares of the company's stock worth $55,977,000 after purchasing an additional 74,082 shares during the last quarter. Ninety One UK Ltd increased its position in shares of Fomento Económico Mexicano by 3.9% in the 4th quarter. Ninety One UK Ltd now owns 644,148 shares of the company's stock worth $55,068,000 after purchasing an additional 23,902 shares during the last quarter. Finally, FMR LLC increased its position in shares of Fomento Económico Mexicano by 5.3% in the 3rd quarter. FMR LLC now owns 491,582 shares of the company's stock worth $48,524,000 after purchasing an additional 24,537 shares during the last quarter. Institutional investors and hedge funds own 61.00% of the company's stock.

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Wall Street Analyst Weigh In

FMX has been the subject of several research analyst reports. Barclays boosted their target price on shares of Fomento Económico Mexicano from $99.00 to $102.00 and gave the stock an "equal weight" rating in a research report on Tuesday, March 4th. The Goldman Sachs Group lowered their price objective on shares of Fomento Económico Mexicano from $109.00 to $97.80 and set a "buy" rating for the company in a research report on Tuesday, January 28th. Finally, UBS Group boosted 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. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Fomento Económico Mexicano has an average rating of "Hold" and an average price target of $103.95.

Fomento Económico Mexicano Stock Performance

Fomento Económico Mexicano stock traded up $0.03 during midday trading on Wednesday, reaching $99.35. 284,698 shares of the stock traded hands, compared to its average volume of 529,090. The company has a current ratio of 1.62, a quick ratio of 1.32 and a debt-to-equity ratio of 0.37. The firm has a fifty day moving average price of $89.36 and a two-hundred day moving average price of $92.50. The firm has a market cap of $35.54 billion, a price-to-earnings ratio of 25.47, a PEG ratio of 5.26 and a beta of 0.87. Fomento Económico Mexicano, S.A.B. de C.V. has a fifty-two week low of $81.07 and a fifty-two week high of $131.56.

Fomento Económico Mexicano (NYSE:FMX - Get Free Report) last posted its earnings results on Thursday, February 27th. The company reported $0.46 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.51 by ($1.05). The firm had revenue of $9.99 billion for the quarter, compared to analyst estimates of $201.67 billion. Fomento Económico Mexicano had a net margin of 3.22% and a return on equity of 8.37%. On average, equities research analysts forecast 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 company also recently announced a dividend, which was paid on Friday, January 17th. Shareholders of record on Friday, January 17th were paid a dividend of $0.9201 per share. This is a positive change from Fomento Económico Mexicano's previous dividend of $0.74. The ex-dividend date of this dividend was Friday, January 17th. Fomento Económico Mexicano's payout ratio is presently 11.03%.

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.