Mirae Asset Global Investments Co. Ltd. Has $310,000 Stock Holdings in Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX)

Mirae Asset Global Investments Co. Ltd. lessened its position in shares of Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) by 5.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,118 shares of the company’s stock after selling 164 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Fomento Economico Mexicano were worth $310,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. First Eagle Investment Management LLC lifted its stake in shares of Fomento Economico Mexicano by 20.5% during the fourth quarter. First Eagle Investment Management LLC now owns 12,655,733 shares of the company’s stock valued at $1,081,939,000 after acquiring an additional 2,150,913 shares during the period. Royal Bank of Canada lifted its stake in shares of Fomento Economico Mexicano by 5.5% during the fourth quarter. Royal Bank of Canada now owns 5,269,083 shares of the company’s stock valued at $450,454,000 after acquiring an additional 274,467 shares during the period. Schroder Investment Management Group lifted its stake in shares of Fomento Economico Mexicano by 20.4% during the fourth quarter. Schroder Investment Management Group now owns 4,228,299 shares of the company’s stock valued at $360,716,000 after acquiring an additional 717,666 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Fomento Economico Mexicano by 6.8% during the fourth quarter. JPMorgan Chase & Co. now owns 3,238,177 shares of the company’s stock valued at $276,832,000 after acquiring an additional 205,981 shares during the period. Finally, FMR LLC lifted its stake in shares of Fomento Economico Mexicano by 540.3% during the fourth quarter. FMR LLC now owns 3,147,544 shares of the company’s stock valued at $269,084,000 after acquiring an additional 2,655,962 shares during the period. Institutional investors and hedge funds own 61.00% of the company’s stock.

Fomento Economico Mexicano Stock Down 0.5%

Shares of Fomento Economico Mexicano stock opened at $105.70 on Monday. Fomento Economico Mexicano S.A.B. de C.V. has a 1 year low of $81.08 and a 1 year high of $119.18. The business has a 50-day moving average of $104.25 and a two-hundred day moving average of $96.46. The company has a market capitalization of $37.82 billion, a P/E ratio of 23.65, a price-to-earnings-growth ratio of 3.72 and a beta of 0.65. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.64 and a quick ratio of 1.31.

Fomento Economico Mexicano (NYSE:FMX) last announced its quarterly earnings results on Monday, April 28th. The company reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.07). Fomento Economico Mexicano had a return on equity of 7.86% and a net margin of 3.98%. The business had revenue of $9.65 billion during the quarter, compared to the consensus estimate of $194.75 billion. As a group, equities analysts predict that Fomento Economico Mexicano S.A.B. de C.V. will post 5.32 EPS for the current year.

Fomento Economico Mexicano Increases Dividend

The firm also recently declared a dividend, which was paid on Monday, May 5th. Shareholders of record on Friday, April 25th were issued a $1.628 dividend. This is an increase from Fomento Economico Mexicano’s previous dividend of $0.92. This represents a dividend yield of 1.57%. The ex-dividend date of this dividend was Thursday, April 24th. Fomento Economico Mexicano’s dividend payout ratio is 11.41%.

Wall Street Analysts Forecast Growth

FMX has been the topic of several research reports. Itau BBA Securities raised Fomento Economico Mexicano from a “market perform” rating to an “outperform” rating in a research note on Monday, April 7th. UBS Group upped their price objective on Fomento Economico Mexicano from $107.00 to $112.00 and gave the company a “neutral” rating in a report on Thursday, May 15th. Wall Street Zen downgraded Fomento Economico Mexicano from a “buy” rating to a “hold” rating in a report on Wednesday, April 30th. Finally, Barclays upped their price objective on Fomento Economico Mexicano from $102.00 to $108.00 and gave the company an “equal weight” rating in a report on Monday, May 12th. Four research analysts have rated the stock with a hold rating and two have assigned 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 $106.70.

Fomento Economico 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.