Envestnet Asset Management Inc. Sells 43,780 Shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Envestnet Asset Management Inc. cut its holdings in shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX - Free Report) by 13.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 271,155 shares of the company's stock after selling 43,780 shares during the period. Envestnet Asset Management Inc. owned about 0.08% of Fomento Económico Mexicano worth $23,181,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Brooklyn Investment Group grew its stake in shares of Fomento Económico Mexicano by 82.8% in the fourth quarter. Brooklyn Investment Group now owns 340 shares of the company's stock worth $29,000 after purchasing an additional 154 shares during the last quarter. Mather Group LLC. grew its position in shares of Fomento Económico Mexicano by 179.1% in the 4th quarter. Mather Group LLC. now owns 575 shares of the company's stock valued at $49,000 after buying an additional 369 shares during the last quarter. Exchange Traded Concepts LLC acquired a new stake in shares of Fomento Económico Mexicano in the fourth quarter valued at about $51,000. Rosenberg Matthew Hamilton raised its position in shares of Fomento Económico Mexicano by 30.2% during the fourth quarter. Rosenberg Matthew Hamilton now owns 758 shares of the company's stock worth $65,000 after acquiring an additional 176 shares during the last quarter. Finally, UMB Bank n.a. raised its position in shares of Fomento Económico Mexicano by 29.7% during the fourth quarter. UMB Bank n.a. now owns 887 shares of the company's stock worth $76,000 after acquiring an additional 203 shares during the last quarter. 61.00% of the stock is currently owned by institutional investors and hedge funds.

Fomento Económico Mexicano Stock Up 1.8 %

Shares of FMX traded up $1.85 during trading hours on Thursday, hitting $105.64. The stock had a trading volume of 206,347 shares, compared to its average volume of 555,446. Fomento Económico Mexicano, S.A.B. de C.V. has a 1-year low of $81.07 and a 1-year high of $123.09. The firm has a market capitalization of $37.80 billion, a P/E ratio of 27.11, a price-to-earnings-growth ratio of 5.26 and a beta of 0.68. The firm has a 50 day simple moving average of $95.49 and a 200-day simple moving average of $92.13. 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 (NYSE:FMX - Get Free Report) last released its quarterly earnings data on Thursday, February 27th. The company reported $0.46 EPS for the quarter, missing the consensus estimate of $1.51 by ($1.05). Fomento Económico Mexicano had a net margin of 3.22% and a return on equity of 8.37%. The firm had revenue of $9.99 billion for the quarter, compared to the consensus estimate of $201.67 billion. Sell-side 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 firm also recently disclosed a dividend, which will be paid on Monday, May 5th. Shareholders of record on Friday, April 25th will be paid a $1.628 dividend. This represents a dividend 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 11.03%.

Wall Street Analyst Weigh In

FMX has been the subject of a number of recent analyst reports. Itau BBA Securities raised shares of Fomento Económico Mexicano from a "market perform" rating to an "outperform" rating in a research report on Monday, April 7th. Barclays lifted 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 note on Tuesday, March 4th. UBS Group lifted their price objective on Fomento Económico Mexicano from $94.00 to $107.00 and gave the stock a "neutral" rating in a research report on Friday, March 14th. Finally, The Goldman Sachs Group dropped their price objective on Fomento Económico Mexicano from $109.00 to $97.80 and set a "buy" rating on the stock in a research note on Tuesday, January 28th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, Fomento Económico Mexicano presently has an average rating of "Moderate Buy" and an average price target of $103.95.

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.