Coronation Fund Managers Ltd. Sells 30,968 Shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Coronation Fund Managers Ltd. cut its holdings in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) by 12.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 215,426 shares of the company’s stock after selling 30,968 shares during the period. Fomento Económico Mexicano makes up 1.1% of Coronation Fund Managers Ltd.’s investment portfolio, making the stock its 26th biggest holding. Coronation Fund Managers Ltd.’s holdings in Fomento Económico Mexicano were worth $18,417,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. Baillie Gifford & Co. boosted its stake in shares of 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 acquiring an additional 421,057 shares in the last quarter. Perpetual Ltd lifted its holdings in Fomento Económico Mexicano by 23.8% in the 4th 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 last quarter. Robeco Institutional Asset Management B.V. boosted its position in Fomento Económico Mexicano by 12.8% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 654,778 shares of the company’s stock worth $55,977,000 after purchasing an additional 74,082 shares during the period. Ninety One UK Ltd boosted its position in Fomento Económico Mexicano by 3.9% during the fourth quarter. Ninety One UK Ltd now owns 644,148 shares of the company’s stock worth $55,068,000 after purchasing an additional 23,902 shares during the period. Finally, FMR LLC grew its holdings in Fomento Económico Mexicano by 5.3% during the third quarter. FMR LLC now owns 491,582 shares of the company’s stock valued at $48,524,000 after purchasing an additional 24,537 shares during the last quarter. 61.00% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

FMX has been the subject of several recent analyst reports. Barclays downgraded shares of Fomento Económico Mexicano from an “overweight” rating to an “equal weight” rating in a report on Tuesday, January 21st. StockNews.com upgraded shares of Fomento Económico Mexicano from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. Finally, The Goldman Sachs Group lowered their price target 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 research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $108.27.

Fomento Económico Mexicano Trading Down 2.0 %

Shares of Fomento Económico Mexicano stock opened at $87.87 on Monday. Fomento Económico Mexicano, S.A.B. de C.V. has a 1 year low of $81.07 and a 1 year high of $143.43. The company’s fifty day simple moving average is $86.19 and its 200-day simple moving average is $95.57. The company has a market cap of $31.44 billion, a price-to-earnings ratio of 22.53, a PEG ratio of 5.18 and a beta of 0.90. The company has a current ratio of 1.62, a quick ratio of 1.32 and a debt-to-equity ratio of 0.37.

Fomento Económico Mexicano Increases Dividend

The business also recently declared a dividend, which was paid on Friday, January 17th. Shareholders of record on Friday, January 17th were given 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 (DPR) is currently 11.79%.

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.