Manning & Napier Advisors LLC Sells 2,020 Shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Manning & Napier Advisors LLC trimmed its holdings in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) by 7.2% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 25,962 shares of the company’s stock after selling 2,020 shares during the period. Manning & Napier Advisors LLC’s holdings in Fomento Económico Mexicano were worth $2,219,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Baillie Gifford & Co. increased its holdings in Fomento Económico Mexicano by 10.8% during the 3rd quarter. Baillie Gifford & Co. now owns 4,306,739 shares of the company’s stock worth $425,118,000 after purchasing an additional 421,057 shares during the period. Perpetual Ltd boosted its position in Fomento Económico Mexicano by 23.8% during the 4th quarter. Perpetual Ltd now owns 924,669 shares of the company’s stock valued at $79,050,000 after acquiring an additional 177,843 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its position in Fomento Económico Mexicano by 12.8% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 654,778 shares of the company’s stock valued at $55,977,000 after acquiring an additional 74,082 shares in the last quarter. FMR LLC boosted its position in Fomento Económico Mexicano by 5.3% during the 3rd quarter. FMR LLC now owns 491,582 shares of the company’s stock valued at $48,524,000 after acquiring an additional 24,537 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its position in Fomento Económico Mexicano by 740.2% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 472,200 shares of the company’s stock valued at $50,832,000 after acquiring an additional 416,000 shares in the last quarter. 61.00% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

FMX has been the subject of a number of recent analyst reports. The Goldman Sachs Group lowered their price objective on Fomento Económico Mexicano from $109.00 to $97.80 and set a “buy” rating for the company in a research report on Tuesday. Barclays cut Fomento Económico Mexicano from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, January 21st. Finally, StockNews.com raised Fomento Económico Mexicano from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $119.20.

Fomento Económico Mexicano Stock Performance

Shares of FMX opened at $87.24 on Friday. The stock has a 50-day moving average of $86.28 and a two-hundred day moving average of $97.06. Fomento Económico Mexicano, S.A.B. de C.V. has a one year low of $81.07 and a one year high of $143.43. 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 stock has a market cap of $31.21 billion, a P/E ratio of 22.37, a P/E/G ratio of 4.87 and a beta of 0.90.

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 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 20.26%.

About Fomento Económico 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.