Sei Investments Co. Lowers Holdings in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Sei Investments Co. trimmed its stake in shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) by 5.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 311,129 shares of the company’s stock after selling 18,535 shares during the period. Sei Investments Co. owned about 0.09% of Fomento Económico Mexicano worth $26,598,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. American Century Companies Inc. grew its stake in shares of Fomento Económico Mexicano by 1.9% during the 4th quarter. American Century Companies Inc. now owns 250,188 shares of the company’s stock worth $21,389,000 after purchasing an additional 4,674 shares during the period. Quantbot Technologies LP boosted its holdings in Fomento Económico Mexicano by 39.1% during the fourth quarter. Quantbot Technologies LP now owns 9,301 shares of the company’s stock worth $795,000 after buying an additional 2,614 shares in the last quarter. Whittier Trust Co. of Nevada Inc. grew its position in Fomento Económico Mexicano by 32.4% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 3,282 shares of the company’s stock valued at $281,000 after buying an additional 803 shares during the period. Whittier Trust Co. increased its holdings in Fomento Económico Mexicano by 45.2% in the fourth quarter. Whittier Trust Co. now owns 9,962 shares of the company’s stock valued at $852,000 after buying an additional 3,099 shares in the last quarter. Finally, Corient Private Wealth LLC raised its position in shares of Fomento Económico Mexicano by 15.4% in the fourth quarter. Corient Private Wealth LLC now owns 5,147 shares of the company’s stock worth $440,000 after acquiring an additional 686 shares during the period. 61.00% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on FMX shares. UBS Group raised their target price on Fomento Económico Mexicano from $94.00 to $107.00 and gave the company a “neutral” rating in a research report on Friday, March 14th. The Goldman Sachs Group dropped their price objective on Fomento Económico Mexicano from $109.00 to $97.80 and set a “buy” rating on the stock in a report on Tuesday, January 28th. Finally, Barclays increased their target price on Fomento Económico Mexicano from $99.00 to $102.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 4th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, Fomento Económico Mexicano currently has a consensus rating of “Hold” and an average price target of $103.95.

Fomento Económico Mexicano Trading Up 0.6 %

FMX stock opened at $97.21 on Wednesday. Fomento Económico Mexicano, S.A.B. de C.V. has a 12-month low of $81.08 and a 12-month high of $131.56. The business’s 50-day moving average is $90.80 and its 200 day moving average is $92.36. The company has a current ratio of 1.62, a quick ratio of 1.32 and a debt-to-equity ratio of 0.37. The stock has a market cap of $34.78 billion, a price-to-earnings ratio of 24.93, a PEG ratio of 5.26 and a beta of 0.87.

Fomento Económico Mexicano (NYSE:FMX) last issued its quarterly earnings results on Thursday, February 27th. The company reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.51 by ($1.05). Fomento Económico Mexicano had a return on equity of 8.37% and a net margin of 3.22%. The firm had revenue of $9.99 billion during the quarter, compared to analyst estimates of $201.67 billion. On average, sell-side analysts anticipate that Fomento Económico Mexicano, S.A.B. de C.V. will post 5.32 EPS for the current fiscal year.

Fomento Económico Mexicano Increases Dividend

The firm also recently announced a dividend, which was paid on Friday, January 17th. Stockholders of record on Friday, January 17th were given a $0.9201 dividend. This is a boost from Fomento Económico Mexicano’s previous dividend of $0.74. The ex-dividend date of this dividend was Friday, January 17th. Fomento Económico Mexicano’s dividend payout ratio is 11.03%.

About Fomento Económico Mexicano

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.