PNC Financial Services Group Inc. cut its stake in shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX – Get Rating) by 26.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 9,241 shares of the company’s stock after selling 3,295 shares during the period. PNC Financial Services Group Inc.’s holdings in Fomento Económico Mexicano were worth $722,000 as of its most recent filing with the SEC.
Several other large investors have also recently bought and sold shares of the stock. Belpointe Asset Management LLC acquired a new stake in shares of Fomento Económico Mexicano in the fourth quarter valued at approximately $30,000. Brown Brothers Harriman & Co. lifted its position in shares of Fomento Económico Mexicano by 117.0% in the first quarter. Brown Brothers Harriman & Co. now owns 421 shares of the company’s stock valued at $35,000 after buying an additional 227 shares during the last quarter. Concord Wealth Partners acquired a new stake in shares of Fomento Económico Mexicano in the fourth quarter valued at approximately $36,000. New York State Common Retirement Fund acquired a new stake in shares of Fomento Económico Mexicano in the third quarter valued at approximately $47,000. Finally, Atlas Capital Advisors LLC lifted its position in shares of Fomento Económico Mexicano by 68.8% in the third quarter. Atlas Capital Advisors LLC now owns 768 shares of the company’s stock valued at $48,000 after buying an additional 313 shares during the last quarter. 21.07% of the stock is owned by institutional investors and hedge funds.
Fomento Económico Mexicano Price Performance
Fomento Económico Mexicano stock opened at $101.31 on Friday. The stock’s fifty day moving average price is $96.46 and its two-hundred day moving average price is $88.12. Fomento Económico Mexicano, S.A.B. de C.V. has a one year low of $58.73 and a one year high of $102.50. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.77 and a quick ratio of 1.45. The firm has a market cap of $36.25 billion, a PE ratio of 9.87, a price-to-earnings-growth ratio of 1.53 and a beta of 0.93.
Fomento Económico Mexicano Increases Dividend
The business also recently disclosed a semi-annual dividend, which was paid on Thursday, May 18th. Shareholders of record on Friday, May 5th were paid a dividend of $1.0138 per share. This represents a yield of 1.5%. The ex-dividend date was Thursday, May 4th. This is a positive change from Fomento Económico Mexicano’s previous semi-annual dividend of $0.85. Fomento Económico Mexicano’s dividend payout ratio (DPR) is 19.49%.
Analyst Ratings Changes
FMX has been the subject of a number of recent analyst reports. StockNews.com initiated coverage on Fomento Económico Mexicano in a research report on Thursday, May 18th. They issued a “buy” rating for the company. Citigroup initiated coverage on Fomento Económico Mexicano in a report on Friday, March 3rd. They set a “buy” rating for the company. Morgan Stanley lifted their price target on Fomento Económico Mexicano from $102.00 to $110.00 and gave the stock an “overweight” rating in a report on Monday, March 27th. 92 Resources reissued a “maintains” rating on shares of Fomento Económico Mexicano in a report on Wednesday, May 3rd. Finally, Scotiabank raised Fomento Económico Mexicano from a “sector perform” rating to an “outperform” rating in a report on Thursday, February 16th. One research analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $100.30.
Fomento Económico Mexicano Profile
Fomento Economico Mexicano SAB de CV operates as a holding company, which engages in the production, distribution, and marketing of beverages. The firm also produces, markets, sells, and distributes Coca-Cola trademark beverages, including sparkling beverages. It operates through the following segments: Coca-Cola FEMSA; FEMSA-Comercio Proximity Division; FEMSA-Comercio Health Division; FEMSA-Comercio Fuel Division; Heineken Investment; and Other Business.
Further Reading
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