Portland Global Advisors LLC Cuts Position in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Portland Global Advisors LLC lowered its holdings in shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) by 12.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 39,762 shares of the company’s stock after selling 5,750 shares during the quarter. Portland Global Advisors LLC’s holdings in Fomento Económico Mexicano were worth $3,399,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Schroder Investment Management Group increased its holdings in Fomento Económico Mexicano by 20.4% in the 4th quarter. Schroder Investment Management Group now owns 4,228,299 shares of the company’s stock worth $360,716,000 after acquiring an additional 717,666 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its stake in shares of Fomento Económico Mexicano by 77.5% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 728,253 shares of the company’s stock worth $62,258,000 after purchasing an additional 317,887 shares in the last quarter. Sava Infond d.o.o. acquired a new position in shares of Fomento Económico Mexicano during the 4th quarter worth about $607,000. JPMorgan Chase & Co. lifted its stake in Fomento Económico Mexicano by 6.8% in the 4th 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 in the last quarter. Finally, Summitry LLC boosted its holdings in Fomento Económico Mexicano by 15.3% in the 4th quarter. Summitry LLC now owns 3,305 shares of the company’s stock worth $283,000 after buying an additional 438 shares during the last quarter. 61.00% of the stock is owned by institutional investors and hedge funds.

Fomento Económico Mexicano Stock Up 1.1 %

NYSE FMX opened at $100.26 on Friday. The business’s fifty day simple moving average is $91.76 and its 200-day simple moving average is $92.37. The company has a quick ratio of 1.32, a current ratio of 1.62 and a debt-to-equity ratio of 0.37. The firm has a market cap of $35.87 billion, a PE ratio of 25.71, a P/E/G ratio of 5.26 and a beta of 0.87. Fomento Económico Mexicano, S.A.B. de C.V. has a 52 week low of $81.08 and a 52 week high of $131.11.

Fomento Económico Mexicano (NYSE:FMX) last issued its earnings results on Thursday, February 27th. The company reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $1.51 by ($1.05). The firm had revenue of $9.99 billion for 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%. As a group, equities analysts anticipate 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 firm also recently announced a dividend, which was paid on Friday, January 17th. Shareholders of record on Friday, January 17th were given a $0.9201 dividend. The ex-dividend date was Friday, January 17th. This is an increase from Fomento Económico Mexicano’s previous dividend of $0.74. Fomento Económico Mexicano’s payout ratio is currently 11.03%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on FMX. UBS Group raised their target price on Fomento Económico Mexicano from $94.00 to $107.00 and gave the company a “neutral” rating in a research report on Friday, March 14th. 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. Finally, Barclays increased their target price on shares of Fomento Económico Mexicano from $99.00 to $102.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 4th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average 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.