Oppenheimer Asset Management Inc. Reduces Position in Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX)

Oppenheimer Asset Management Inc. decreased its holdings in Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) by 2.8% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 44,983 shares of the company’s stock after selling 1,281 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Fomento Economico Mexicano were worth $4,389,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of FMX. Franklin Resources Inc. lifted its holdings in Fomento Economico Mexicano by 4.2% in the fourth quarter. Franklin Resources Inc. now owns 3,117 shares of the company’s stock valued at $266,000 after acquiring an additional 125 shares during the period. Mitsubishi UFJ Trust & Banking Corp increased its position in shares of Fomento Economico Mexicano by 5.8% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 5,015 shares of the company’s stock valued at $429,000 after purchasing an additional 274 shares during the last quarter. Parallel Advisors LLC lifted its stake in shares of Fomento Economico Mexicano by 56.2% in the 1st quarter. Parallel Advisors LLC now owns 831 shares of the company’s stock worth $81,000 after purchasing an additional 299 shares during the period. Fifth Third Bancorp lifted its stake in shares of Fomento Economico Mexicano by 1.3% in the 1st quarter. Fifth Third Bancorp now owns 26,474 shares of the company’s stock worth $2,583,000 after purchasing an additional 340 shares during the period. Finally, NewEdge Advisors LLC boosted its holdings in shares of Fomento Economico Mexicano by 9.7% in the fourth quarter. NewEdge Advisors LLC now owns 4,328 shares of the company’s stock worth $370,000 after buying an additional 382 shares during the last quarter. Hedge funds and other institutional investors own 61.00% of the company’s stock.

Fomento Economico Mexicano Stock Performance

Shares of NYSE FMX opened at $100.86 on Thursday. The stock has a market cap of $36.09 billion, a PE ratio of 22.56, a price-to-earnings-growth ratio of 3.56 and a beta of 0.67. Fomento Economico Mexicano S.A.B. de C.V. has a 1 year low of $81.08 and a 1 year high of $119.18. The firm has a fifty day moving average price of $104.51 and a 200-day moving average price of $95.58. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.64 and a quick ratio of 1.31.

Fomento Economico Mexicano (NYSE:FMX) last issued its earnings results on Monday, April 28th. The company reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.07). The firm had revenue of $9.65 billion during the quarter, compared to the consensus estimate of $194.75 billion. Fomento Economico Mexicano had a return on equity of 7.86% and a net margin of 3.98%. Equities analysts anticipate that Fomento Economico Mexicano S.A.B. de C.V. will post 5.32 earnings per share for the current fiscal year.

Fomento Economico Mexicano Increases Dividend

The firm also recently announced a dividend, which was paid on Monday, May 5th. Investors of record on Friday, April 25th were paid a dividend of $1.628 per share. This represents a yield of 1.57%. The ex-dividend date was Thursday, April 24th. This is an increase from Fomento Economico Mexicano’s previous dividend of $0.92. Fomento Economico Mexicano’s dividend payout ratio (DPR) is 11.41%.

Analyst Ratings Changes

A number of analysts have commented on FMX shares. Wall Street Zen cut shares of Fomento Economico Mexicano from a “buy” rating to a “hold” rating in a report on Wednesday, April 30th. Itau BBA Securities upgraded Fomento Economico Mexicano from a “market perform” rating to an “outperform” rating in a research note on Monday, April 7th. Barclays raised their target price on Fomento Economico Mexicano from $102.00 to $108.00 and gave the stock an “equal weight” rating in a report on Monday, May 12th. Finally, UBS Group lifted their target price on Fomento Economico Mexicano from $107.00 to $112.00 and gave the company a “neutral” rating in a research report on Thursday, May 15th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $106.70.

About Fomento Economico Mexicano

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.