Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) Stock Position Cut by Ramirez Asset Management Inc.

Ramirez Asset Management Inc. trimmed its stake in shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) by 10.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,402 shares of the company’s stock after selling 1,394 shares during the quarter. Ramirez Asset Management Inc.’s holdings in Fomento Económico Mexicano were worth $975,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. BNP Paribas Financial Markets raised its holdings in Fomento Económico Mexicano by 107.7% during the third quarter. BNP Paribas Financial Markets now owns 326,302 shares of the company’s stock worth $32,209,000 after purchasing an additional 169,184 shares in the last quarter. Park Avenue Securities LLC acquired a new position in shares of Fomento Económico Mexicano during the 4th quarter valued at $225,000. Sarasin & Partners LLP raised its stake in shares of Fomento Económico Mexicano by 33.3% in the 4th quarter. Sarasin & Partners LLP now owns 20,000 shares of the company’s stock worth $1,710,000 after buying an additional 5,000 shares in the last quarter. Cerity Partners LLC raised its stake in shares of Fomento Económico Mexicano by 2.0% in the 3rd quarter. Cerity Partners LLC now owns 9,520 shares of the company’s stock worth $940,000 after buying an additional 191 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of Fomento Económico Mexicano by 141.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 135,003 shares of the company’s stock valued at $11,541,000 after buying an additional 79,181 shares during the period. 61.00% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

FMX has been the subject of a number of research analyst reports. UBS Group upped their price target on shares of Fomento Económico Mexicano from $94.00 to $107.00 and gave the company a “neutral” rating in a report on Friday, March 14th. Barclays upped their price target on Fomento Económico Mexicano from $99.00 to $102.00 and gave the company an “equal weight” rating in a report on Tuesday, March 4th. Finally, The Goldman Sachs Group reduced their price objective on Fomento Económico Mexicano from $109.00 to $97.80 and set a “buy” rating for the company in a research note 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 company. According to MarketBeat, Fomento Económico Mexicano presently has an average rating of “Hold” and an average target price of $103.95.

Fomento Económico Mexicano Stock Performance

FMX opened at $99.31 on Friday. The stock’s 50 day moving average price is $91.40 and its two-hundred day moving average price is $92.43. The firm has a market capitalization of $35.53 billion, a P/E ratio of 25.46, a price-to-earnings-growth ratio of 5.26 and a beta of 0.87. The company has a quick ratio of 1.32, a current ratio of 1.62 and a debt-to-equity ratio of 0.37. Fomento Económico Mexicano, S.A.B. de C.V. has a 12-month low of $81.08 and a 12-month high of $131.11.

Fomento Económico Mexicano (NYSE:FMX) last issued its earnings results on Thursday, February 27th. The company reported $0.46 EPS for the quarter, missing analysts’ consensus estimates 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%. On average, equities analysts forecast 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 disclosed a dividend, which was paid on Friday, January 17th. Stockholders of record on Friday, January 17th were paid a $0.9201 dividend. This is a positive change from Fomento Económico Mexicano’s previous dividend of $0.74. The ex-dividend date was Friday, January 17th. Fomento Económico Mexicano’s dividend payout ratio is currently 11.03%.

Fomento Económico Mexicano Company 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.