Portland Global Advisors LLC lessened its stake in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX - Free Report) by 12.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 39,762 shares of the company's stock after selling 5,750 shares during the period. Portland Global Advisors LLC's holdings in Fomento Económico Mexicano were worth $3,399,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Schroder Investment Management Group raised its position in shares of Fomento Económico Mexicano by 20.4% in the 4th 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 in the last quarter. Arrowstreet Capital Limited Partnership grew its position in shares of Fomento Económico Mexicano by 77.5% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 728,253 shares of the company's stock worth $62,258,000 after buying an additional 317,887 shares during the last quarter. Sava Infond d.o.o. bought a new position in shares of Fomento Económico Mexicano during the 4th quarter worth approximately $607,000. 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 acquiring an additional 205,981 shares during the last quarter. Finally, Summitry LLC boosted its stake in Fomento Económico Mexicano by 15.3% in the fourth quarter. Summitry LLC now owns 3,305 shares of the company's stock valued at $283,000 after acquiring an additional 438 shares in the last quarter. Institutional investors own 61.00% of the company's stock.
Wall Street Analysts Forecast Growth
Several analysts have recently commented on FMX shares. UBS Group increased their price objective on Fomento Económico Mexicano from $94.00 to $107.00 and gave the company a "neutral" rating in a report on Friday, March 14th. Barclays raised their price target on Fomento Económico Mexicano from $99.00 to $102.00 and gave the stock an "equal weight" rating in a report on Tuesday, March 4th. Finally, The Goldman Sachs Group cut their price objective on shares of 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 stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $103.95.
Check Out Our Latest Research Report on Fomento Económico Mexicano
Fomento Económico Mexicano Stock Performance
FMX traded up $3.74 on Thursday, reaching $103.67. 328,111 shares of the stock were exchanged, compared to its average volume of 504,561. The company's 50-day moving average price is $92.69 and its 200 day moving average price is $92.29. The firm has a market capitalization of $37.09 billion, a PE ratio of 26.58, a PEG ratio of 5.26 and a beta of 0.87. Fomento Económico Mexicano, S.A.B. de C.V. has a fifty-two week low of $81.07 and a fifty-two week high of $130.00. 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 (NYSE:FMX - Get Free Report) last released 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 business had revenue of $9.99 billion during the quarter, compared to analysts' expectations 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, sell-side analysts forecast 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 business also recently disclosed a dividend, which was paid on Friday, January 17th. Shareholders of record on Friday, January 17th were paid a dividend of $0.9201 per share. The ex-dividend date of this dividend was Friday, January 17th. This is a positive change from Fomento Económico Mexicano's previous dividend of $0.74. Fomento Económico Mexicano's dividend payout ratio (DPR) is presently 11.03%.
Fomento Económico Mexicano Company 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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