Sustainable Growth Advisers LP Lowers Stake in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Sustainable Growth Advisers LP cut its holdings in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX - Free Report) by 3.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 292,551 shares of the company's stock after selling 11,717 shares during the quarter. Sustainable Growth Advisers LP owned about 0.08% of Fomento Económico Mexicano worth $25,010,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Connor Clark & Lunn Investment Management Ltd. increased its position 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 valued at $30,956,000 after acquiring an additional 228,284 shares during the period. Public Employees Retirement System of Ohio acquired a new position in shares of Fomento Económico Mexicano in the third quarter valued at approximately $19,856,000. ANTIPODES PARTNERS Ltd raised its stake in shares of Fomento Económico Mexicano by 28.4% during the fourth quarter. ANTIPODES PARTNERS Ltd now owns 815,739 shares of the company's stock worth $69,743,000 after purchasing an additional 180,244 shares during the last quarter. Perpetual Ltd lifted its holdings in shares of Fomento Económico Mexicano by 23.8% during the fourth quarter. Perpetual Ltd now owns 924,669 shares of the company's stock worth $79,050,000 after purchasing an additional 177,843 shares during the period. Finally, BNP Paribas Financial Markets grew its position 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 buying an additional 169,184 shares during the last quarter. 61.00% of the stock is owned by hedge funds and other institutional investors.

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Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. UBS Group upped their price objective on shares of Fomento Económico Mexicano from $94.00 to $107.00 and gave the stock a "neutral" rating in a research report on Friday. 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. Finally, The Goldman Sachs Group dropped their target price 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. Three equities research 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, Fomento Económico Mexicano presently has an average rating of "Hold" and an average price target of $103.95.

Fomento Económico Mexicano Price Performance

FMX traded down $1.36 on Tuesday, hitting $99.23. 510,573 shares of the company were exchanged, compared to its average volume of 631,469. The business's fifty day moving average is $89.08 and its 200 day moving average is $92.53. The firm has a market capitalization of $35.50 billion, a P/E ratio of 25.44, a price-to-earnings-growth ratio of 5.26 and a beta of 0.87. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.32 and a current ratio of 1.62. Fomento Económico Mexicano, S.A.B. de C.V. has a fifty-two week low of $81.08 and a fifty-two week high of $131.56.

Fomento Económico Mexicano (NYSE:FMX - Get Free Report) last posted its earnings results on Thursday, February 27th. The company reported $0.46 earnings per share 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, sell-side analysts anticipate that Fomento Económico Mexicano, S.A.B. de C.V. will post 5.32 EPS for the current year.

Fomento Económico Mexicano Increases Dividend

The firm also recently announced a dividend, which was paid on Friday, January 17th. Shareholders of record on Friday, January 17th were issued a dividend of $0.9201 per share. This is an increase 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 (DPR) is 11.03%.

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.