Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) Shares Sold by Amundi

Amundi cut its holdings in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) by 6.8% during the fourth quarter, Holdings Channel reports. The institutional investor owned 555,331 shares of the company’s stock after selling 40,720 shares during the period. Amundi’s holdings in Fomento Económico Mexicano were worth $46,553,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Brooklyn Investment Group raised its stake in Fomento Económico Mexicano by 82.8% in the fourth quarter. Brooklyn Investment Group now owns 340 shares of the company’s stock valued at $29,000 after buying an additional 154 shares in the last quarter. Mather Group LLC. raised its stake in Fomento Económico Mexicano by 179.1% in the fourth quarter. Mather Group LLC. now owns 575 shares of the company’s stock valued at $49,000 after buying an additional 369 shares in the last quarter. Exchange Traded Concepts LLC acquired a new stake in Fomento Económico Mexicano in the fourth quarter valued at $51,000. Banque Cantonale Vaudoise acquired a new stake in Fomento Económico Mexicano in the third quarter valued at $55,000. Finally, Rosenberg Matthew Hamilton raised its stake in Fomento Económico Mexicano by 30.2% in the fourth quarter. Rosenberg Matthew Hamilton now owns 758 shares of the company’s stock valued at $65,000 after buying an additional 176 shares in the last quarter. 61.00% of the stock is currently owned by institutional investors and hedge funds.

Fomento Económico Mexicano Stock Performance

Shares of FMX stock opened at $98.34 on Thursday. The stock’s 50-day moving average is $88.13 and its two-hundred day moving average is $92.73. The firm has a market cap of $35.18 billion, a price-to-earnings ratio of 25.22, a PEG ratio of 5.26 and a beta of 0.87. Fomento Económico Mexicano, S.A.B. de C.V. has a 1 year low of $81.07 and a 1 year high of $131.56. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.32 and a current ratio of 1.62.

Fomento Económico Mexicano (NYSE:FMX) last issued its quarterly earnings data on Thursday, February 27th. The company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate 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%. Analysts predict 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 business also recently declared a dividend, which was paid on Friday, January 17th. Investors of record on Friday, January 17th were issued a dividend of $0.9201 per share. The ex-dividend date was Friday, January 17th. This is a positive change from Fomento Económico Mexicano’s previous dividend of $0.74. Fomento Económico Mexicano’s dividend payout ratio (DPR) is currently 11.03%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on FMX. Barclays raised their price target 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. The Goldman Sachs Group dropped their price objective on Fomento Económico Mexicano from $109.00 to $97.80 and set a “buy” rating on the stock in a report on Tuesday, January 28th.

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.