Marks Group Wealth Management Inc Lowers Stake in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Marks Group Wealth Management Inc lessened its stake in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) by 43.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,820 shares of the company’s stock after selling 2,946 shares during the period. Marks Group Wealth Management Inc’s holdings in Fomento Económico Mexicano were worth $327,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FMX. Baillie Gifford & Co. increased its holdings in Fomento Económico Mexicano by 10.8% during the 3rd quarter. Baillie Gifford & Co. now owns 4,306,739 shares of the company’s stock worth $425,118,000 after purchasing an additional 421,057 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Fomento Económico Mexicano by 267.6% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 313,602 shares of the company’s stock worth $30,956,000 after buying an additional 228,284 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new position in shares of Fomento Económico Mexicano during the third quarter valued at $19,856,000. Perpetual Ltd raised its holdings in shares of Fomento Económico Mexicano by 23.8% in the fourth quarter. Perpetual Ltd now owns 924,669 shares of the company’s stock valued at $79,050,000 after acquiring an additional 177,843 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its stake in Fomento Económico Mexicano by 107.7% in the third quarter. BNP Paribas Financial Markets now owns 326,302 shares of the company’s stock worth $32,209,000 after acquiring an additional 169,184 shares during the period. Institutional investors own 61.00% of the company’s stock.

Fomento Económico Mexicano Stock Up 1.1 %

NYSE FMX opened at $88.84 on Thursday. The business has a fifty day moving average price of $86.15 and a 200 day moving average price of $95.16. 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 market cap of $31.79 billion, a P/E ratio of 22.78, a P/E/G ratio of 5.18 and a beta of 0.90. Fomento Económico Mexicano, S.A.B. de C.V. has a one year low of $81.07 and a one year high of $143.43.

Fomento Económico Mexicano Increases Dividend

The business also recently disclosed a dividend, which was paid on Friday, January 17th. Shareholders of record on Friday, January 17th were paid 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 payout ratio is 11.79%.

Analysts Set New Price Targets

A number of analysts recently commented on FMX shares. 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 for the company in a research note on Tuesday, January 28th. Barclays downgraded shares of Fomento Económico Mexicano from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, January 21st. Finally, StockNews.com raised Fomento Económico Mexicano from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Fomento Económico Mexicano has a consensus rating of “Hold” and a consensus target price of $108.27.

Fomento Económico Mexicano Company 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.