Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) Shares Sold by Thomas J. Herzfeld Advisors Inc.

Thomas J. Herzfeld Advisors Inc. lessened its stake in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) by 50.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,859 shares of the company’s stock after selling 7,040 shares during the quarter. Thomas J. Herzfeld Advisors Inc.’s holdings in Fomento Económico Mexicano were worth $586,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the stock. Park Avenue Securities LLC acquired a new position in Fomento Económico Mexicano in the fourth quarter valued at $225,000. Sarasin & Partners LLP raised its holdings in shares of Fomento Económico Mexicano by 33.3% in the 4th quarter. Sarasin & Partners LLP now owns 20,000 shares of the company’s stock worth $1,710,000 after purchasing an additional 5,000 shares during the period. Cerity Partners LLC lifted its stake in shares of Fomento Económico Mexicano by 2.0% in the 3rd quarter. Cerity Partners LLC now owns 9,520 shares of the company’s stock valued at $940,000 after purchasing an additional 191 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Fomento Económico Mexicano by 141.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 135,003 shares of the company’s stock worth $11,541,000 after purchasing an additional 79,181 shares during the period. Finally, Stifel Financial Corp increased its position in Fomento Económico Mexicano by 1.2% during the 3rd quarter. Stifel Financial Corp now owns 12,479 shares of the company’s stock worth $1,232,000 after purchasing an additional 149 shares in the last quarter. 61.00% of the stock is owned by hedge funds and other institutional investors.

Fomento Económico Mexicano Stock Performance

Fomento Económico Mexicano stock opened at $97.59 on Tuesday. Fomento Económico Mexicano, S.A.B. de C.V. has a 12-month low of $81.08 and a 12-month high of $131.11. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.62 and a quick ratio of 1.32. The company has a market capitalization of $34.92 billion, a price-to-earnings ratio of 25.02, a price-to-earnings-growth ratio of 5.26 and a beta of 0.87. The firm’s fifty day moving average price is $92.07 and its 200 day moving average price is $92.27.

Fomento Económico Mexicano (NYSE:FMX) last announced 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 business had revenue of $9.99 billion for the quarter, compared to analyst estimates of $201.67 billion. Fomento Económico Mexicano had a net margin of 3.22% and a return on equity of 8.37%. On average, research analysts forecast that Fomento Económico Mexicano, S.A.B. de C.V. will post 5.32 EPS for the current fiscal 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. This is a positive change from Fomento Económico Mexicano’s previous dividend of $0.74. The ex-dividend date of this dividend was Friday, January 17th. Fomento Económico Mexicano’s dividend payout ratio is presently 11.03%.

Analyst Ratings Changes

A number of equities analysts have recently commented on FMX shares. UBS Group raised their target price on shares of Fomento Económico Mexicano from $94.00 to $107.00 and gave the company a “neutral” rating in a research note on Friday, March 14th. The Goldman Sachs Group reduced their price objective on 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 upped their target price on Fomento Económico Mexicano from $99.00 to $102.00 and gave the stock 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 issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $103.95.

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.