Ballentine Partners LLC Reduces Stake in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Ballentine Partners LLC cut its holdings in shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) by 4.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,915 shares of the company’s stock after selling 95 shares during the quarter. Ballentine Partners LLC’s holdings in Fomento Económico Mexicano were worth $249,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of FMX. Baillie Gifford & Co. grew its holdings in shares of Fomento Económico Mexicano by 53.8% during the 4th quarter. Baillie Gifford & Co. now owns 3,838,639 shares of the company’s stock worth $500,367,000 after purchasing an additional 1,343,165 shares during the period. Hawk Ridge Capital Management LP purchased a new position in Fomento Económico Mexicano during the 4th quarter valued at about $79,852,000. Vontobel Asset Management Inc. boosted its holdings in Fomento Económico Mexicano by 1,253.3% during the 4th quarter. Vontobel Asset Management Inc. now owns 362,616 shares of the company’s stock valued at $45,839,000 after acquiring an additional 335,822 shares during the period. FMR LLC boosted its holdings in Fomento Económico Mexicano by 49.8% during the 3rd quarter. FMR LLC now owns 861,598 shares of the company’s stock valued at $94,043,000 after acquiring an additional 286,254 shares during the period. Finally, Sei Investments Co. boosted its holdings in Fomento Económico Mexicano by 38.8% during the 3rd quarter. Sei Investments Co. now owns 770,049 shares of the company’s stock valued at $84,051,000 after acquiring an additional 215,241 shares during the period.

Fomento Económico Mexicano Price Performance

Shares of Fomento Económico Mexicano stock opened at $106.09 on Thursday. The business has a 50-day moving average of $115.16 and a 200 day moving average of $124.80. Fomento Económico Mexicano, S.A.B. de C.V. has a 12 month low of $99.24 and a 12 month high of $143.43. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.63 and a current ratio of 1.95.

Fomento Económico Mexicano (NYSE:FMX) last announced its earnings results on Friday, April 26th. The company reported $0.47 EPS for the quarter. Fomento Económico Mexicano had a return on equity of 8.20% and a net margin of 2.91%. The company had revenue of $10.76 billion during the quarter. Equities analysts anticipate that Fomento Económico Mexicano, S.A.B. de C.V. will post 5.39 earnings per share for the current fiscal year.

Fomento Económico Mexicano Increases Dividend

The company also recently announced an annual dividend, which was paid on Monday, April 29th. Investors of record on Wednesday, April 17th were issued a dividend of $1.115 per share. This represents a yield of 0.87%. This is a boost from Fomento Económico Mexicano’s previous annual dividend of $0.74. The ex-dividend date was Tuesday, April 16th. Fomento Económico Mexicano’s dividend payout ratio (DPR) is 16.80%.

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.