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

Manning & Napier Advisors LLC lowered its holdings in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) by 7.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,962 shares of the company’s stock after selling 2,020 shares during the quarter. Manning & Napier Advisors LLC’s holdings in Fomento Económico Mexicano were worth $2,219,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the business. Baillie Gifford & Co. raised its stake in shares of Fomento Económico Mexicano by 10.8% in the third 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 last quarter. Perpetual Ltd raised its stake in shares of Fomento Económico Mexicano by 23.8% in the fourth 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. raised its stake in shares of Fomento Económico Mexicano by 12.8% in 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 last quarter. FMR LLC raised its stake in shares of Fomento Económico Mexicano by 5.3% in the third quarter. FMR LLC now owns 491,582 shares of the company’s stock worth $48,524,000 after purchasing an additional 24,537 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of Fomento Económico Mexicano by 740.2% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 472,200 shares of the company’s stock worth $50,832,000 after purchasing an additional 416,000 shares during the last quarter. Hedge funds and other institutional investors own 61.00% of the company’s stock.

Fomento Económico Mexicano Stock Performance

Shares of FMX opened at $87.24 on Friday. The company has a quick ratio of 1.32, a current ratio of 1.62 and a debt-to-equity ratio of 0.37. The business has a 50-day simple moving average of $86.28 and a two-hundred day simple moving average of $97.06. The stock has a market cap of $31.21 billion, a price-to-earnings ratio of 22.37, a PEG ratio of 4.87 and a beta of 0.90. Fomento Económico Mexicano, S.A.B. de C.V. has a 52 week low of $81.07 and a 52 week high of $143.43.

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 boost 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 presently 20.26%.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. 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 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 upgraded 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, the stock has an average rating of “Moderate Buy” and an average target price of $119.20.

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.