Marks Group Wealth Management Inc trimmed its holdings in shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX - Free Report) by 43.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,820 shares of the company's stock after selling 2,946 shares during the period. Marks Group Wealth Management Inc's holdings in Fomento Económico Mexicano were worth $327,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of FMX. Baillie Gifford & Co. grew its stake in Fomento Económico Mexicano by 10.8% in the 3rd quarter. Baillie Gifford & Co. now owns 4,306,739 shares of the company's stock worth $425,118,000 after acquiring an additional 421,057 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its stake in Fomento Económico Mexicano by 267.6% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 313,602 shares of the company's stock worth $30,956,000 after acquiring an additional 228,284 shares during the period. Public Employees Retirement System of Ohio purchased a new stake in Fomento Económico Mexicano in the 3rd quarter worth approximately $19,856,000. Perpetual Ltd grew its stake in 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 acquiring an additional 177,843 shares during the period. Finally, BNP Paribas Financial Markets grew 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 worth $32,209,000 after acquiring an additional 169,184 shares during the period. 61.00% of the stock is owned by hedge funds and other institutional investors.
Fomento Económico Mexicano Stock Up 1.5 %
Shares of NYSE:FMX traded up $1.39 during midday trading on Friday, hitting $91.10. 413,411 shares of the company's stock traded hands, compared to its average volume of 472,295. 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 company has a market cap of $32.59 billion, a PE ratio of 23.36, a P/E/G ratio of 5.18 and a beta of 0.90. The firm's fifty day moving average price is $86.08 and its two-hundred day moving average price is $94.86. Fomento Económico Mexicano, S.A.B. de C.V. has a twelve month low of $81.07 and a twelve month high of $143.43.
Fomento Económico Mexicano Increases Dividend
The firm also recently announced a dividend, which was paid on Friday, January 17th. Investors of record on Friday, January 17th were issued 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 was Friday, January 17th. Fomento Económico Mexicano's payout ratio is presently 11.79%.
Analysts Set New Price Targets
Several analysts have commented on the stock. Barclays cut shares of Fomento Económico Mexicano from an "overweight" rating to an "equal weight" rating in a research note on Tuesday, January 21st. The Goldman Sachs Group lowered their target price on shares of Fomento Económico Mexicano from $109.00 to $97.80 and set a "buy" rating for the company in a research note on Tuesday, January 28th. Finally, StockNews.com raised shares of Fomento Económico Mexicano from a "hold" rating to a "buy" rating in a research note on Wednesday, November 6th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Fomento Económico Mexicano has a consensus rating of "Hold" and a consensus target price of $108.27.
Check Out Our Latest Research Report on FMX
About Fomento Económico Mexicano
(
Free Report)
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.
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