Macquarie Group Ltd. Sells 8,021 Shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Macquarie Group Ltd. lessened its position in shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) by 1.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 804,965 shares of the company’s stock after selling 8,021 shares during the period. Macquarie Group Ltd.’s holdings in Fomento Económico Mexicano were worth $76,626,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Sachem Head Capital Management LP purchased a new position in shares of Fomento Económico Mexicano during the 4th quarter valued at about $130,031,000. Discovery Capital Management LLC CT purchased a new position in shares of Fomento Económico Mexicano during the fourth quarter worth approximately $58,915,000. Altrinsic Global Advisors LLC lifted its holdings in shares of Fomento Económico Mexicano by 108.8% in the 4th quarter. Altrinsic Global Advisors LLC now owns 1,117,105 shares of the company’s stock worth $87,268,000 after acquiring an additional 582,198 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Fomento Económico Mexicano by 22.2% in the 1st quarter. BlackRock Inc. now owns 2,019,228 shares of the company’s stock valued at $167,294,000 after purchasing an additional 366,751 shares in the last quarter. Finally, Victory Capital Management Inc. bought a new position in shares of Fomento Económico Mexicano during the 4th quarter valued at $27,473,000.

Fomento Económico Mexicano Stock Down 0.9 %

Shares of FMX stock traded down $0.99 during midday trading on Wednesday, reaching $107.26. 263,859 shares of the stock were exchanged, compared to its average volume of 547,384. Fomento Económico Mexicano, S.A.B. de C.V. has a 1 year low of $59.55 and a 1 year high of $119.62. The firm has a market cap of $38.38 billion, a PE ratio of 10.20, a price-to-earnings-growth ratio of 0.85 and a beta of 0.94. The company’s 50 day moving average is $111.55 and its two-hundred day moving average is $102.86. The company has a current ratio of 1.76, a quick ratio of 1.44 and a debt-to-equity ratio of 0.36.

Fomento Económico Mexicano (NYSE:FMX) last announced its quarterly earnings data on Thursday, July 27th. The company reported $1.64 EPS for the quarter, beating the consensus estimate of $1.21 by $0.43. Fomento Económico Mexicano had a return on equity of 9.62% and a net margin of 9.48%. The business had revenue of $11.56 billion during the quarter, compared to analyst estimates of $11.12 billion. On average, equities research analysts predict that Fomento Económico Mexicano, S.A.B. de C.V. will post 5.62 EPS for the current year.

Fomento Económico Mexicano Cuts Dividend

The firm also recently disclosed a semi-annual dividend, which will be paid on Tuesday, November 7th. Investors of record on Monday, November 6th will be paid a dividend of $1.0001 per share. This represents a yield of 1.3%. The ex-dividend date is Friday, November 3rd. Fomento Económico Mexicano’s payout ratio is currently 18.83%.

Wall Street Analysts Forecast Growth

FMX has been the topic of several analyst reports. StockNews.com upgraded Fomento Económico Mexicano from a “hold” rating to a “buy” rating in a report on Thursday, August 24th. Citigroup boosted their price objective on Fomento Económico Mexicano from $125.00 to $135.00 and gave the company a “buy” rating in a research report on Thursday, August 17th. HSBC raised their target price on shares of Fomento Económico Mexicano from $112.00 to $124.00 and gave the stock a “hold” rating in a report on Friday, August 25th. Finally, Barclays upped their price target on shares of Fomento Económico Mexicano from $105.00 to $115.00 in a report on Monday, July 17th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $118.64.

Fomento Económico 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.