Bank of New York Mellon Corp Sells 150 Shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Bank of New York Mellon Corp lessened its holdings in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) by 1.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 9,080 shares of the company’s stock after selling 150 shares during the period. Bank of New York Mellon Corp’s holdings in Fomento Económico Mexicano were worth $776,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. BNP Paribas Financial Markets increased its holdings in shares of 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 buying an additional 169,184 shares during the last quarter. Park Avenue Securities LLC purchased a new position in Fomento Económico Mexicano in the fourth quarter worth about $225,000. Sarasin & Partners LLP increased its stake in 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 acquiring an additional 5,000 shares during the last quarter. Cerity Partners LLC increased its stake in Fomento Económico Mexicano by 2.0% during the third quarter. Cerity Partners LLC now owns 9,520 shares of the company’s stock worth $940,000 after acquiring an additional 191 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its stake in shares of Fomento Económico Mexicano by 141.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 135,003 shares of the company’s stock valued at $11,541,000 after purchasing an additional 79,181 shares during the last quarter. Hedge funds and other institutional investors own 61.00% of the company’s stock.

Fomento Económico Mexicano Price Performance

Shares of FMX stock opened at $97.21 on Wednesday. The stock has a 50 day moving average price of $90.80 and a 200 day moving average price of $92.36. Fomento Económico Mexicano, S.A.B. de C.V. has a 52-week low of $81.08 and a 52-week high of $131.56. 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 firm has a market capitalization of $34.78 billion, a P/E ratio of 24.93, a P/E/G ratio of 5.26 and a beta of 0.87.

Fomento Económico Mexicano (NYSE:FMX) last released 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 business had revenue of $9.99 billion for the quarter, compared to the consensus estimate of $201.67 billion. Fomento Económico Mexicano had a return on equity of 8.37% and a net margin of 3.22%. As a group, sell-side analysts predict that Fomento Económico Mexicano, S.A.B. de C.V. will post 5.32 earnings per share for the current year.

Fomento Económico Mexicano Increases Dividend

The business also recently announced a dividend, which was paid on Friday, January 17th. Shareholders of record on Friday, January 17th were paid a $0.9201 dividend. 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 is currently 11.03%.

Analyst Ratings Changes

Several research firms have recently weighed in on FMX. Barclays boosted their target price on Fomento Económico Mexicano from $99.00 to $102.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 4th. UBS Group boosted their price objective on shares of Fomento Económico Mexicano from $94.00 to $107.00 and gave the company a “neutral” rating in a research report on Friday, March 14th. Finally, The Goldman Sachs Group reduced their target price on shares of 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. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on 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 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.