Bank of New York Mellon Corp Trims Stock Position in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Bank of New York Mellon Corp decreased its holdings in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) by 1.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,080 shares of the company’s stock after selling 150 shares during the quarter. Bank of New York Mellon Corp’s holdings in Fomento Económico Mexicano were worth $776,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. Stifel Financial Corp boosted its stake in shares of Fomento Económico Mexicano by 1.2% during the 3rd quarter. Stifel Financial Corp now owns 12,479 shares of the company’s stock worth $1,232,000 after acquiring an additional 149 shares during the last quarter. Brooklyn Investment Group raised its holdings in Fomento Económico Mexicano by 82.8% in the 4th quarter. Brooklyn Investment Group now owns 340 shares of the company’s stock worth $29,000 after purchasing an additional 154 shares during the period. Rosenberg Matthew Hamilton raised its holdings in Fomento Económico Mexicano by 30.2% in the 4th quarter. Rosenberg Matthew Hamilton now owns 758 shares of the company’s stock worth $65,000 after purchasing an additional 176 shares during the period. Cerity Partners LLC lifted its position in Fomento Económico Mexicano by 2.0% during 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, UMB Bank n.a. raised its stake in shares of Fomento Económico Mexicano by 29.7% in the fourth quarter. UMB Bank n.a. now owns 887 shares of the company’s stock worth $76,000 after buying an additional 203 shares during the period. 61.00% of the stock is currently owned by institutional investors.

Fomento Económico Mexicano Trading Up 0.6 %

FMX stock opened at $97.21 on Wednesday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.62 and a quick ratio of 1.32. Fomento Económico Mexicano, S.A.B. de C.V. has a 1-year low of $81.08 and a 1-year high of $131.56. The business has a 50 day simple moving average of $90.80 and a two-hundred day simple moving average of $92.36. The company has a market capitalization of $34.78 billion, a price-to-earnings ratio of 24.93, a PEG ratio of 5.26 and a beta of 0.87.

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

Fomento Económico Mexicano Increases Dividend

The company also recently disclosed a dividend, which was paid on Friday, January 17th. Stockholders of record on Friday, January 17th were given a dividend of $0.9201 per share. This is a positive change 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 (DPR) is presently 11.03%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Barclays boosted their price objective 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. UBS Group increased their price objective on shares of Fomento Económico Mexicano from $94.00 to $107.00 and gave the stock a “neutral” rating in a research note on Friday, March 14th. Finally, The Goldman Sachs Group lowered their target price on shares of 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. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Fomento Económico Mexicano presently has an average rating of “Hold” and a consensus target price 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.