Sustainable Growth Advisers LP Decreases Holdings in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Sustainable Growth Advisers LP cut its stake in shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) by 3.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 292,551 shares of the company’s stock after selling 11,717 shares during the period. Sustainable Growth Advisers LP owned about 0.08% of Fomento Económico Mexicano worth $25,010,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Brooklyn Investment Group raised its stake in Fomento Económico Mexicano by 82.8% during the 4th quarter. Brooklyn Investment Group now owns 340 shares of the company’s stock valued at $29,000 after buying an additional 154 shares during the last quarter. Mather Group LLC. increased its stake in shares of Fomento Económico Mexicano by 179.1% in the 4th quarter. Mather Group LLC. now owns 575 shares of the company’s stock worth $49,000 after purchasing an additional 369 shares in the last quarter. Exchange Traded Concepts LLC purchased a new stake in shares of Fomento Económico Mexicano in the 4th quarter worth $51,000. Banque Cantonale Vaudoise purchased a new stake in shares of Fomento Económico Mexicano in the 3rd quarter worth $55,000. Finally, Rosenberg Matthew Hamilton increased its stake in shares of 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 in the last quarter. 61.00% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

FMX has been the subject of several analyst reports. The Goldman Sachs Group reduced their price objective on Fomento Económico Mexicano from $109.00 to $97.80 and set a “buy” rating for the company in a research note on Tuesday, January 28th. Barclays upped their price objective on Fomento Económico Mexicano from $99.00 to $102.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 4th.

Fomento Económico Mexicano Trading Down 0.8 %

Shares of Fomento Económico Mexicano stock opened at $97.58 on Friday. The company has a market capitalization of $34.91 billion, a P/E ratio of 25.02, a P/E/G ratio of 5.26 and a beta of 0.87. 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 company has a fifty day moving average of $88.37 and a 200 day moving average of $92.76. Fomento Económico Mexicano, S.A.B. de C.V. has a fifty-two week low of $81.07 and a fifty-two week high of $131.56.

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

Fomento Económico Mexicano Increases Dividend

The company also recently announced a dividend, which was paid on Friday, January 17th. Investors of record on Friday, January 17th were issued a $0.9201 dividend. The ex-dividend date of this dividend was Friday, January 17th. This is an increase from Fomento Económico Mexicano’s previous dividend of $0.74. Fomento Económico Mexicano’s dividend payout ratio is currently 11.03%.

About Fomento Económico Mexicano

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.