Coronation Fund Managers Ltd. Has $18.42 Million Stake in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Coronation Fund Managers Ltd. trimmed its position in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX - Free Report) by 12.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 215,426 shares of the company's stock after selling 30,968 shares during the quarter. Fomento Económico Mexicano accounts for 1.1% of Coronation Fund Managers Ltd.'s holdings, making the stock its 26th largest holding. Coronation Fund Managers Ltd. owned 0.06% of Fomento Económico Mexicano worth $18,417,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the company. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Fomento Económico Mexicano in the 3rd quarter valued at approximately $7,672,000. BNP Paribas Financial Markets lifted its stake in Fomento Económico Mexicano by 107.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 326,302 shares of the company's stock valued at $32,209,000 after purchasing an additional 169,184 shares during the last quarter. Park Avenue Securities LLC bought a new stake in shares of Fomento Económico Mexicano during the fourth quarter worth $225,000. Baillie Gifford & Co. grew its stake in shares of Fomento Económico Mexicano by 10.8% during the third quarter. Baillie Gifford & Co. now owns 4,306,739 shares of the company's stock worth $425,118,000 after buying an additional 421,057 shares during the last quarter. Finally, Sarasin & Partners LLP increased its holdings in shares of 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. 61.00% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on FMX. StockNews.com raised Fomento Económico Mexicano from a "hold" rating to a "buy" rating in a report on Wednesday, November 6th. Barclays lowered Fomento Económico Mexicano from an "overweight" rating to an "equal weight" rating in a research note on Tuesday, January 21st. Finally, 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 report on Tuesday, January 28th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, Fomento Económico Mexicano has an average rating of "Hold" and a consensus target price of $108.27.

Fomento Económico Mexicano Trading Up 0.8 %

Shares of Fomento Económico Mexicano stock traded up $0.73 during trading on Thursday, hitting $89.75. The company's stock had a trading volume of 425,821 shares, compared to its average volume of 471,377. The stock has a market cap of $32.11 billion, a price-to-earnings ratio of 23.01, a price-to-earnings-growth ratio of 5.18 and a beta of 0.90. 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, S.A.B. de C.V. has a 52 week low of $81.07 and a 52 week high of $143.43. The stock has a 50-day moving average price of $86.11 and a two-hundred day moving average price of $95.12.

Fomento Económico Mexicano Increases Dividend

The business also recently declared a dividend, which was paid on Friday, January 17th. Stockholders of record on Friday, January 17th were paid a $0.9201 dividend. This is a boost 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 dividend payout ratio is presently 11.79%.

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.