Ramirez Asset Management Inc. Cuts Stock Holdings in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Ramirez Asset Management Inc. reduced its holdings in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) by 10.9% during the 4th quarter, according to the company in its most recent Form 13F 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 period. 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.

A number of other institutional investors have also bought and sold shares of FMX. BNP Paribas Financial Markets grew its holdings in shares of Fomento Económico Mexicano by 107.7% during the 3rd 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 during the period. Park Avenue Securities LLC acquired a new stake in shares of Fomento Económico Mexicano in the 4th quarter valued at $225,000. Sarasin & Partners LLP lifted its holdings in Fomento Económico Mexicano by 33.3% during 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 during the last quarter. Cerity Partners LLC boosted its holdings in Fomento Económico Mexicano by 2.0% in the third quarter. Cerity Partners LLC now owns 9,520 shares of the company’s stock valued at $940,000 after purchasing an additional 191 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in 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 acquiring an additional 79,181 shares in the last quarter. 61.00% of the stock is owned by hedge funds and other institutional investors.

Fomento Económico Mexicano Stock Up 2.5 %

Shares of NYSE:FMX opened at $99.31 on Friday. 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 company’s fifty day moving average is $91.40 and its two-hundred day moving average is $92.43. Fomento Económico Mexicano, S.A.B. de C.V. has a 1-year low of $81.08 and a 1-year high of $131.11. The stock has a market capitalization of $35.53 billion, a price-to-earnings ratio of 25.46, a price-to-earnings-growth ratio of 5.26 and a beta of 0.87.

Fomento Económico Mexicano (NYSE:FMX) last released its quarterly earnings data on Thursday, February 27th. The company reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.51 by ($1.05). Fomento Económico Mexicano had a net margin of 3.22% and a return on equity of 8.37%. The company had revenue of $9.99 billion for the quarter, compared to analyst estimates of $201.67 billion. Equities analysts anticipate that Fomento Económico Mexicano, S.A.B. de C.V. will post 5.32 EPS for the current year.

Fomento Económico Mexicano Increases Dividend

The company also recently announced 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 of this dividend was Friday, January 17th. Fomento Económico Mexicano’s dividend payout ratio is 11.03%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. The Goldman Sachs Group lowered their target price 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. UBS Group raised their target price 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. Finally, Barclays upped their price objective on Fomento Económico Mexicano from $99.00 to $102.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 4th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $103.95.

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.