Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. decreased its position in shares of Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) by 1.8% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 266,286 shares of the company’s stock after selling 4,869 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.07% of Fomento Economico Mexicano worth $25,984,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Banque Transatlantique SA acquired a new stake in shares of Fomento Economico Mexicano in the fourth quarter valued at approximately $44,000. Alpine Bank Wealth Management acquired a new stake in shares of Fomento Economico Mexicano during the first quarter worth about $46,000. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Fomento Economico Mexicano during the fourth quarter worth about $72,000. Parallel Advisors LLC increased its position in Fomento Economico Mexicano by 56.2% in the 1st quarter. Parallel Advisors LLC now owns 831 shares of the company’s stock valued at $81,000 after acquiring an additional 299 shares during the period. Finally, Janney Montgomery Scott LLC purchased a new stake in Fomento Economico Mexicano during the 1st quarter valued at approximately $207,000. Institutional investors and hedge funds own 61.00% of the company’s stock.

Fomento Economico Mexicano Stock Performance

NYSE FMX opened at $98.70 on Tuesday. The business has a 50 day moving average price of $104.09 and a 200 day moving average price of $97.08. The company has a market capitalization of $35.31 billion, a P/E ratio of 22.08, a PEG ratio of 3.17 and a beta of 0.65. 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 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 earnings results on Monday, April 28th. The company reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.07). The business had revenue of $9.65 billion for the quarter, compared to analyst estimates of $194.75 billion. Fomento Economico Mexicano had a return on equity of 7.86% and a net margin of 3.98%. Sell-side analysts expect that Fomento Economico Mexicano S.A.B. de C.V. will post 5.32 EPS for the current fiscal year.

Fomento Economico Mexicano Increases Dividend

The company also recently announced a — dividend, which will be paid on Monday, July 28th. Investors of record on Thursday, July 17th will be given a dividend of $1.3625 per share. The ex-dividend date of this dividend is Thursday, July 17th. This represents a yield of 2%. This is a positive change from Fomento Economico Mexicano’s previous — dividend of $0.73. Fomento Economico Mexicano’s dividend payout ratio (DPR) is 49.22%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on FMX. UBS Group lifted their price objective on shares of Fomento Economico Mexicano from $112.00 to $115.00 and gave the company a “neutral” rating in a research report on Thursday, July 10th. Wall Street Zen cut shares of Fomento Economico Mexicano from a “buy” rating to a “hold” rating in a report on Wednesday, April 30th. Itau BBA Securities raised Fomento Economico Mexicano from a “market perform” rating to an “outperform” rating in a report on Monday, April 7th. Finally, Barclays increased their target price on Fomento Economico Mexicano from $102.00 to $108.00 and gave the stock an “equal weight” rating in a research note on Monday, May 12th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Fomento Economico Mexicano has a consensus rating of “Hold” and a consensus target price of $107.45.

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.