JARISLOWSKY FRASER Ltd Sells 120 Shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

JARISLOWSKY FRASER Ltd reduced its stake in shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) by 0.3% during the 4th quarter, HoldingsChannel reports. The fund owned 47,003 shares of the company’s stock after selling 120 shares during the period. JARISLOWSKY FRASER Ltd’s holdings in Fomento Económico Mexicano were worth $4,018,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. First Eagle Investment Management LLC increased its stake in Fomento Económico Mexicano by 20.5% during the fourth quarter. First Eagle Investment Management LLC now owns 12,655,733 shares of the company’s stock worth $1,081,939,000 after acquiring an additional 2,150,913 shares during the last quarter. Baillie Gifford & Co. grew its stake in shares of Fomento Económico Mexicano by 0.4% during the fourth quarter. Baillie Gifford & Co. now owns 4,325,489 shares of the company’s stock valued at $369,786,000 after buying an additional 18,750 shares during the last quarter. Schroder Investment Management Group grew its stake in shares of Fomento Económico Mexicano by 20.4% during the fourth quarter. Schroder Investment Management Group now owns 4,228,299 shares of the company’s stock valued at $360,716,000 after buying an additional 717,666 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Fomento Económico Mexicano by 6.8% during the fourth quarter. JPMorgan Chase & Co. now owns 3,238,177 shares of the company’s stock valued at $276,832,000 after buying an additional 205,981 shares during the last quarter. Finally, FMR LLC grew its stake in shares of Fomento Económico Mexicano by 540.3% during the fourth quarter. FMR LLC now owns 3,147,544 shares of the company’s stock valued at $269,084,000 after buying an additional 2,655,962 shares during the last quarter. 61.00% of the stock is owned by institutional investors.

Fomento Económico Mexicano Stock Up 0.3%

Shares of NYSE FMX opened at $101.99 on Monday. 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 firm has a market capitalization of $36.49 billion, a price-to-earnings ratio of 26.15, a PEG ratio of 5.26 and a beta of 0.69. The stock has a 50 day moving average price of $100.17 and a 200 day moving average price of $92.75. Fomento Económico Mexicano, S.A.B. de C.V. has a 52-week low of $81.08 and a 52-week high of $123.09.

Fomento Económico Mexicano (NYSE:FMX) last posted its earnings results on Monday, April 28th. The company reported $0.45 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.07). The company had revenue of $9.65 billion for the quarter, compared to analysts’ expectations of $194.75 billion. Fomento Económico Mexicano had a return on equity of 8.37% and a net margin of 3.22%. Sell-side analysts expect that Fomento Económico Mexicano, S.A.B. de C.V. will post 5.32 earnings per share for the current year.

Fomento Económico Mexicano Increases Dividend

The business also recently announced a dividend, which was paid on Monday, May 5th. Shareholders of record on Friday, April 25th were issued a dividend of $1.628 per share. The ex-dividend date was Thursday, April 24th. This represents a yield of 1.57%. This is a positive change from Fomento Económico Mexicano’s previous dividend of $0.92. Fomento Económico Mexicano’s dividend payout ratio is currently 11.41%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on FMX shares. UBS Group upped their target price on Fomento Económico Mexicano from $94.00 to $107.00 and gave the company a “neutral” rating in a research note on Friday, March 14th. StockNews.com cut Fomento Económico Mexicano from a “buy” rating to a “hold” rating in a research note on Wednesday, April 30th. The Goldman Sachs Group cut 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. Barclays upped their target price on Fomento Económico Mexicano from $99.00 to $102.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 4th. Finally, Itau BBA Securities upgraded Fomento Económico Mexicano from a “market perform” rating to an “outperform” rating in a report on Monday, April 7th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $103.95.

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.