Marks Group Wealth Management Inc Sells 1,612 Shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Marks Group Wealth Management Inc reduced its position in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) by 16.6% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 8,108 shares of the company’s stock after selling 1,612 shares during the period. Marks Group Wealth Management Inc’s holdings in Fomento Económico Mexicano were worth $1,057,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Baillie Gifford & Co. raised 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 acquiring an additional 1,350,922 shares during the period. Acadian Asset Management LLC raised its holdings in shares of Fomento Económico Mexicano by 284.7% during the third quarter. Acadian Asset Management LLC now owns 852,977 shares of the company’s stock worth $93,085,000 after acquiring an additional 631,270 shares during the period. FMR LLC raised 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 acquiring an additional 286,254 shares during the period. Robeco Institutional Asset Management B.V. grew its position in Fomento Económico Mexicano by 53.4% in the third quarter. Robeco Institutional Asset Management B.V. now owns 735,876 shares of the company’s stock valued at $80,321,000 after purchasing an additional 256,300 shares in the last quarter. Finally, Sei Investments Co. grew its holdings in shares of 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 purchasing an additional 215,241 shares during the last quarter.

Fomento Económico Mexicano Stock Performance

Shares of Fomento Económico Mexicano stock traded down $0.47 during trading on Tuesday, hitting $118.04. 361,950 shares of the stock traded hands, compared to its average volume of 677,409. The stock’s fifty day simple moving average is $126.79 and its 200 day simple moving average is $125.35. Fomento Económico Mexicano, S.A.B. de C.V. has a 52-week low of $91.71 and a 52-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.

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

Fomento Económico Mexicano Increases Dividend

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

Wall Street Analyst Weigh In

FMX has been the topic of a number of research reports. StockNews.com downgraded shares of Fomento Económico Mexicano from a “buy” rating to a “hold” rating in a research report on Monday, February 26th. UBS Group downgraded shares of Fomento Económico Mexicano from a “buy” rating to a “neutral” rating in a report on Friday, January 12th. HSBC raised 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 report on Friday, February 9th. Finally, Bank of America reiterated 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 issued a buy rating to the company’s stock. According to MarketBeat, Fomento Económico Mexicano presently has an average rating of “Hold” and an average price target of $135.75.

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.