Mirae Asset Global Investments Co. Ltd. Sells 4,588 Shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Mirae Asset Global Investments Co. Ltd. cut its holdings in shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) by 22.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,160 shares of the company’s stock after selling 4,588 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Fomento Económico Mexicano were worth $2,106,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. BlackRock Inc. increased its holdings in shares of Fomento Económico Mexicano by 11.0% during the third quarter. BlackRock Inc. now owns 3,056,875 shares of the company’s stock worth $191,820,000 after purchasing an additional 302,363 shares during the period. Baillie Gifford & Co. increased its holdings in shares of Fomento Económico Mexicano by 118.0% during the third quarter. Baillie Gifford & Co. now owns 2,495,474 shares of the company’s stock worth $272,381,000 after purchasing an additional 1,350,922 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Fomento Económico Mexicano by 11.5% during the third quarter. JPMorgan Chase & Co. now owns 1,880,584 shares of the company’s stock worth $205,266,000 after purchasing an additional 193,543 shares during the period. Deutsche Bank AG increased its holdings in shares of Fomento Económico Mexicano by 4.0% during the first quarter. Deutsche Bank AG now owns 875,852 shares of the company’s stock worth $83,372,000 after purchasing an additional 33,900 shares during the period. Finally, FMR LLC increased its holdings in shares of Fomento Económico Mexicano by 49.8% during the third quarter. FMR LLC now owns 861,598 shares of the company’s stock worth $94,043,000 after purchasing an additional 286,254 shares during the period.

Wall Street Analyst Weigh In

Several research firms recently issued reports on FMX. UBS Group lowered shares of Fomento Económico Mexicano from a “buy” rating to a “neutral” rating in a research report on Friday, January 12th. StockNews.com lowered shares of Fomento Económico Mexicano from a “buy” rating to a “hold” rating in a research report on Monday, February 26th. HSBC upgraded shares of Fomento Económico Mexicano from a “hold” rating to a “buy” rating and increased their price target for the stock from $124.00 to $152.00 in a research report on Friday, February 9th. Finally, Bank of America restated a “neutral” rating on shares of Fomento Económico Mexicano in a research report on Monday, February 26th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $135.75.

Fomento Económico Mexicano Trading Up 0.5 %

Shares of Fomento Económico Mexicano stock opened at $119.69 on Friday. Fomento Económico Mexicano, S.A.B. de C.V. has a fifty-two week low of $91.71 and a fifty-two week high of $143.43. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.60 and a current ratio of 1.91. The company’s 50 day moving average price is $127.25 and its two-hundred day moving average price is $125.02.

Fomento Económico Mexicano (NYSE:FMX) last issued its quarterly earnings results on Friday, February 23rd. The company reported $1.07 EPS for the quarter. The company had revenue of $11.23 billion for the quarter, compared to analyst estimates of $11.21 billion. Fomento Económico Mexicano had a net margin of 8.53% and a return on equity of 9.63%. On average, equities analysts anticipate that Fomento Económico Mexicano, S.A.B. de C.V. will post 5.7 earnings per share for the current year.

Fomento Económico Mexicano Increases Dividend

The firm also recently declared an annual dividend, which will be paid on Monday, April 29th. Stockholders of record on Wednesday, April 17th will be issued a dividend of $1.115 per share. This represents a dividend yield of 0.87%. The ex-dividend date is Tuesday, April 16th. This is a positive change from Fomento Económico Mexicano’s previous annual dividend of $0.74. Fomento Económico Mexicano’s payout ratio is 6.11%.

Fomento Económico Mexicano 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.