Marks Group Wealth Management Inc Sells 1,612 Shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Marks Group Wealth Management Inc lowered its holdings in shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) by 16.6% during the fourth quarter, Holdings Channel reports. The firm owned 8,108 shares of the company’s stock after selling 1,612 shares during the period. Marks Group Wealth Management Inc’s holdings in Fomento Económico Mexicano were worth $1,057,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of FMX. Baillie Gifford & Co. grew its position in Fomento Económico Mexicano by 53.8% in the 4th quarter. Baillie Gifford & Co. now owns 3,838,639 shares of the company’s stock worth $500,367,000 after purchasing an additional 1,343,165 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Fomento Económico Mexicano by 11.5% in the third quarter. JPMorgan Chase & Co. now owns 1,880,584 shares of the company’s stock worth $205,266,000 after acquiring an additional 193,543 shares during the last quarter. FMR LLC raised its stake in shares of Fomento Económico Mexicano by 49.8% in the third quarter. FMR LLC now owns 861,598 shares of the company’s stock worth $94,043,000 after acquiring an additional 286,254 shares during the last quarter. Acadian Asset Management LLC raised its stake in shares of Fomento Económico Mexicano by 284.7% in the third quarter. Acadian Asset Management LLC now owns 852,977 shares of the company’s stock worth $93,085,000 after acquiring an additional 631,270 shares during the last quarter. Finally, Black Creek Investment Management Inc. raised its stake in shares of Fomento Económico Mexicano by 10.1% in the third quarter. Black Creek Investment Management Inc. now owns 774,625 shares of the company’s stock worth $84,550,000 after acquiring an additional 71,093 shares during the last quarter.

Fomento Económico Mexicano Price Performance

Shares of NYSE:FMX traded down $0.47 during trading on Tuesday, hitting $118.04. 361,950 shares of the company’s stock traded hands, compared to its average volume of 677,409. The company has a current ratio of 1.91, a quick ratio of 1.60 and a debt-to-equity ratio of 0.33. The company has a 50-day moving average price of $126.79 and a 200-day moving average price of $125.35. Fomento Económico Mexicano, S.A.B. de C.V. has a 52 week low of $91.71 and a 52 week high of $143.43.

Fomento Económico Mexicano (NYSE:FMX) last announced its quarterly earnings results on Friday, February 23rd. The company reported $1.07 earnings per share for the quarter. Fomento Económico Mexicano had a net margin of 8.53% and a return on equity of 9.63%. The firm had revenue of $11.23 billion for the quarter, compared to analyst estimates of $11.21 billion. Equities analysts expect that Fomento Económico Mexicano, S.A.B. de C.V. will post 5.7 EPS for the current year.

Fomento Económico Mexicano Increases Dividend

The company also recently announced an annual dividend, which will be paid on Monday, April 29th. Shareholders of record on Wednesday, April 17th will be issued a dividend of $1.115 per share. This represents a yield of 0.87%. The ex-dividend date is Tuesday, April 16th. This is a boost from Fomento Económico Mexicano’s previous annual dividend of $0.74. Fomento Económico Mexicano’s dividend payout ratio is 6.11%.

Analyst Ratings Changes

A number of analysts recently commented on the company. HSBC upgraded Fomento Económico Mexicano from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $124.00 to $152.00 in a research report on Friday, February 9th. Bank of America reiterated a “neutral” rating on shares of Fomento Económico Mexicano in a research report on Monday, February 26th. UBS Group cut Fomento Económico Mexicano from a “buy” rating to a “neutral” rating in a research note on Friday, January 12th. Finally, StockNews.com lowered Fomento Económico Mexicano from a “buy” rating to a “hold” rating in a research note on Monday, February 26th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $135.75.

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.