Comgest Global Investors S.A.S. Lowers Position in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Comgest Global Investors S.A.S. lowered its stake in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX - Free Report) by 15.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 453,857 shares of the company's stock after selling 80,546 shares during the quarter. Fomento Económico Mexicano comprises approximately 0.6% of Comgest Global Investors S.A.S.'s investment portfolio, making the stock its 28th biggest holding. Comgest Global Investors S.A.S. owned 0.13% of Fomento Económico Mexicano worth $38,800,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in FMX. Park Avenue Securities LLC bought a new stake in Fomento Económico Mexicano during the 4th quarter worth about $225,000. Sarasin & Partners LLP raised its stake in shares of Fomento Económico Mexicano by 33.3% during the 4th quarter. Sarasin & Partners LLP now owns 20,000 shares of the company's stock worth $1,710,000 after purchasing an additional 5,000 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Fomento Económico Mexicano by 141.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 135,003 shares of the company's stock valued at $11,541,000 after buying an additional 79,181 shares in the last quarter. Stifel Financial Corp increased its stake in shares of Fomento Económico Mexicano by 1.2% during 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. Finally, American Century Companies Inc. lifted its position in shares of Fomento Económico Mexicano by 1.9% in the fourth quarter. American Century Companies Inc. now owns 250,188 shares of the company's stock valued at $21,389,000 after buying an additional 4,674 shares during the last quarter. Institutional investors and hedge funds own 61.00% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. UBS Group increased their target price on Fomento Económico Mexicano from $94.00 to $107.00 and gave the stock a "neutral" rating in a research note on Friday, March 14th. The Goldman Sachs Group reduced their price target on Fomento Económico Mexicano from $109.00 to $97.80 and set a "buy" rating on the stock in a research report on Tuesday, January 28th. Itau BBA Securities upgraded Fomento Económico Mexicano from a "market perform" rating to an "outperform" rating in a research report on Monday, April 7th. Finally, Barclays lifted 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. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $103.95.

Fomento Económico Mexicano Stock Performance

NYSE:FMX traded up $2.04 during trading on Friday, reaching $105.83. The company's stock had a trading volume of 370,257 shares, compared to its average volume of 638,392. The firm has a market cap of $37.87 billion, a price-to-earnings ratio of 27.14, a price-to-earnings-growth ratio of 5.26 and a beta of 0.68. Fomento Económico Mexicano, S.A.B. de C.V. has a 12 month low of $81.08 and a 12 month 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 firm has a 50 day moving average of $95.86 and a 200-day moving average of $92.18.

Fomento Económico Mexicano (NYSE:FMX - Get Free Report) last released its earnings results on Thursday, February 27th. The company reported $0.46 earnings per share for the quarter, missing analysts' consensus estimates of $1.51 by ($1.05). The company 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%. Research analysts expect 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 company also recently declared a dividend, which will be paid on Monday, May 5th. Shareholders of record on Friday, April 25th will be issued a $1.628 dividend. This represents a yield of 1.57%. This is an increase from Fomento Económico Mexicano's previous dividend of $0.92. The ex-dividend date of this dividend is Thursday, April 24th. Fomento Económico Mexicano's dividend payout ratio (DPR) is presently 11.03%.

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.