Marshall Wace LLP lessened its position in shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX - Free Report) by 22.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 210,851 shares of the company's stock after selling 61,747 shares during the quarter. Marshall Wace LLP owned 0.06% of Fomento Económico Mexicano worth $18,026,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of FMX. First Eagle Investment Management LLC increased its holdings in Fomento Económico Mexicano by 20.5% in the 4th 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. Baillie Gifford & Co. boosted its holdings in shares of Fomento Económico Mexicano by 0.4% in the 4th quarter. Baillie Gifford & Co. now owns 4,325,489 shares of the company's stock valued at $369,786,000 after acquiring an additional 18,750 shares during the last quarter. Schroder Investment Management Group increased its stake in shares of Fomento Económico Mexicano by 20.4% in the fourth quarter. Schroder Investment Management Group now owns 4,228,299 shares of the company's stock worth $360,716,000 after acquiring an additional 717,666 shares during the period. JPMorgan Chase & Co. lifted its position in Fomento Económico Mexicano by 6.8% during the fourth quarter. JPMorgan Chase & Co. now owns 3,238,177 shares of the company's stock valued at $276,832,000 after purchasing an additional 205,981 shares during the period. Finally, FMR LLC boosted its holdings in Fomento Económico Mexicano by 540.3% in the fourth quarter. FMR LLC now owns 3,147,544 shares of the company's stock valued at $269,084,000 after purchasing an additional 2,655,962 shares during the last quarter. 61.00% of the stock is owned by institutional investors and hedge funds.
Fomento Económico Mexicano Price Performance
FMX stock traded up $0.77 during trading on Friday, hitting $106.68. The stock had a trading volume of 528,506 shares, compared to its average volume of 627,736. Fomento Económico Mexicano, S.A.B. de C.V. has a twelve month low of $81.08 and a twelve month high of $123.09. The company's 50-day moving average price is $97.46 and its two-hundred day moving average price is $92.40. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.62 and a quick ratio of 1.32. The stock has a market capitalization of $38.17 billion, a P/E ratio of 27.35, a PEG ratio of 5.26 and a beta of 0.68.
Fomento Económico Mexicano (NYSE:FMX - Get Free Report) last posted 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). The firm had revenue of $9.99 billion during the quarter, compared to analyst estimates of $201.67 billion. Fomento Económico Mexicano had a net margin of 3.22% and a return on equity of 8.37%. As a group, research 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 announced 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 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 11.75%.
Wall Street Analysts Forecast Growth
A number of brokerages have recently commented on FMX. The Goldman Sachs Group lowered their target price 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. Barclays increased their price target on shares of Fomento Económico Mexicano from $99.00 to $102.00 and gave the stock an "equal weight" rating in a report on Tuesday, March 4th. Itau BBA Securities raised shares of Fomento Económico Mexicano from a "market perform" rating to an "outperform" rating in a report on Monday, April 7th. Finally, UBS Group increased their target price on shares of Fomento Económico Mexicano from $94.00 to $107.00 and gave the stock a "neutral" rating in a research note on Friday, March 14th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $103.95.
View Our Latest Stock Report on Fomento Económico Mexicano
Fomento Económico Mexicano Profile
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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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