Synovus Financial Corp Sells 5,926 Shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Synovus Financial Corp lowered its stake in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX - Free Report) by 48.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,266 shares of the company's stock after selling 5,926 shares during the period. Synovus Financial Corp's holdings in Fomento Económico Mexicano were worth $536,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of FMX. FMR LLC increased its stake in Fomento Económico Mexicano by 540.3% in the 4th quarter. FMR LLC now owns 3,147,544 shares of the company's stock worth $269,084,000 after purchasing an additional 2,655,962 shares during the period. First Eagle Investment Management LLC increased its stake in shares of Fomento Económico Mexicano by 20.5% in the fourth quarter. First Eagle Investment Management LLC now owns 12,655,733 shares of the company's stock worth $1,081,939,000 after buying an additional 2,150,913 shares during the period. Schroder Investment Management Group raised its holdings in Fomento Económico Mexicano by 20.4% during the 4th quarter. Schroder Investment Management Group now owns 4,228,299 shares of the company's stock valued at $360,716,000 after buying an additional 717,666 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its position in Fomento Económico Mexicano by 77.5% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 728,253 shares of the company's stock valued at $62,258,000 after buying an additional 317,887 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in Fomento Económico Mexicano by 6.8% during the 4th quarter. JPMorgan Chase & Co. now owns 3,238,177 shares of the company's stock valued at $276,832,000 after buying an additional 205,981 shares during the period. Institutional investors own 61.00% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Barclays upped their price objective on shares of Fomento Económico Mexicano from $99.00 to $102.00 and gave the company an "equal weight" rating in a research note on Tuesday, March 4th. The Goldman Sachs Group lowered their price target on 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. 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, Itau BBA Securities upgraded Fomento Económico Mexicano from a "market perform" rating to an "outperform" rating in a report on Monday, April 7th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $103.95.

Fomento Económico Mexicano Stock Up 0.1 %

Fomento Económico Mexicano stock traded up $0.06 during trading hours on Wednesday, hitting $106.29. 272,196 shares of the stock traded hands, compared to its average volume of 627,803. Fomento Económico Mexicano, S.A.B. de C.V. has a one year low of $81.08 and a one year high of $123.09. The firm's 50-day moving average price is $96.86 and its two-hundred day moving average price is $92.26. 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 company has a market cap of $38.03 billion, a PE ratio of 27.25, a PEG ratio of 5.26 and a beta of 0.68.

Fomento Económico Mexicano (NYSE:FMX - Get Free Report) last released its quarterly earnings results on Thursday, February 27th. The company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $1.51 by ($1.05). The firm had revenue of $9.99 billion for the quarter, compared to the consensus estimate of $201.67 billion. Fomento Económico Mexicano had a net margin of 3.22% and a return on equity of 8.37%. On average, research analysts forecast that Fomento Económico Mexicano, S.A.B. de C.V. will post 5.32 EPS for the current year.

Fomento Económico Mexicano Increases Dividend

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

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.