Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) Shares Sold by Coronation Fund Managers Ltd.

Coronation Fund Managers Ltd. lessened its holdings in shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) by 12.6% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 215,426 shares of the company’s stock after selling 30,968 shares during the quarter. Fomento Económico Mexicano comprises approximately 1.1% of Coronation Fund Managers Ltd.’s holdings, making the stock its 26th largest position. Coronation Fund Managers Ltd. owned approximately 0.06% of Fomento Económico Mexicano worth $18,417,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Stifel Financial Corp grew its position in Fomento Económico Mexicano by 1.2% in the third quarter. Stifel Financial Corp now owns 12,479 shares of the company’s stock worth $1,232,000 after buying an additional 149 shares during the last quarter. Brooklyn Investment Group boosted its stake in shares of Fomento Económico Mexicano by 82.8% during the 4th quarter. Brooklyn Investment Group now owns 340 shares of the company’s stock worth $29,000 after acquiring an additional 154 shares in the last quarter. Rosenberg Matthew Hamilton grew its holdings in shares of Fomento Económico Mexicano by 30.2% in the 4th quarter. Rosenberg Matthew Hamilton now owns 758 shares of the company’s stock worth $65,000 after acquiring an additional 176 shares during the last quarter. Cerity Partners LLC raised its position in shares of 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 purchasing an additional 191 shares during the period. Finally, UMB Bank n.a. lifted its holdings in shares of Fomento Económico Mexicano by 29.7% during the fourth quarter. UMB Bank n.a. now owns 887 shares of the company’s stock valued at $76,000 after purchasing an additional 203 shares during the last quarter. Institutional investors own 61.00% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Fomento Económico Mexicano Price Performance

Shares of FMX opened at $87.87 on Monday. The business’s 50-day moving average is $86.19 and its 200-day moving average is $95.57. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.62 and a quick ratio of 1.32. The company has a market capitalization of $31.44 billion, a price-to-earnings ratio of 22.53, a P/E/G ratio of 5.18 and a beta of 0.90. Fomento Económico Mexicano, S.A.B. de C.V. has a fifty-two week low of $81.07 and a fifty-two week high of $143.43.

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 $0.9201 dividend. 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 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.