Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) Shares Sold by Gabelli Funds LLC

Gabelli Funds LLC decreased its holdings in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) by 1.7% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 227,700 shares of the company’s stock after selling 4,000 shares during the quarter. Gabelli Funds LLC’s holdings in Fomento Económico Mexicano were worth $29,662,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Fomento Económico Mexicano in the first quarter valued at about $7,321,000. O Shaughnessy Asset Management LLC lifted its position in shares of Fomento Económico Mexicano by 4.1% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 44,174 shares of the company’s stock valued at $5,755,000 after acquiring an additional 1,759 shares during the period. Councilmark Asset Management LLC purchased a new stake in shares of Fomento Económico Mexicano during the 1st quarter worth approximately $1,155,000. Cumberland Partners Ltd grew its holdings in shares of Fomento Económico Mexicano by 26.9% in the 1st quarter. Cumberland Partners Ltd now owns 16,500 shares of the company’s stock worth $2,149,000 after acquiring an additional 3,500 shares during the period. Finally, Portland Global Advisors LLC increased its stake in Fomento Económico Mexicano by 1.4% in the 1st quarter. Portland Global Advisors LLC now owns 40,845 shares of the company’s stock valued at $5,321,000 after purchasing an additional 582 shares in the last quarter.

Analysts Set New Price Targets

Separately, Barclays decreased their target price on Fomento Económico Mexicano from $160.00 to $145.00 and set an “overweight” rating on the stock in a research report on Monday, July 15th. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $139.50.

Fomento Económico Mexicano Price Performance

FMX stock traded up $1.30 on Friday, reaching $109.57. The company had a trading volume of 506,497 shares, compared to its average volume of 701,503. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.63 and a current ratio of 1.72. The company’s fifty day moving average is $111.82 and its 200 day moving average is $122.01. The company has a market cap of $39.20 billion, a P/E ratio of 29.69, a PEG ratio of 4.02 and a beta of 0.94. Fomento Económico Mexicano, S.A.B. de C.V. has a 1 year low of $99.24 and a 1 year high of $143.43.

Fomento Económico Mexicano (NYSE:FMX) last posted its quarterly earnings data on Friday, April 26th. The company reported $0.47 EPS for the quarter. Fomento Económico Mexicano had a return on equity of 8.65% and a net margin of 3.75%. The business had revenue of $10.76 billion for the quarter. On average, research analysts forecast that Fomento Económico Mexicano, S.A.B. de C.V. will post 5.38 earnings per share for the current year.

Fomento Económico Mexicano Increases Dividend

The company also recently declared a semi-annual dividend, which will be paid on Monday, July 29th. Stockholders of record on Wednesday, July 17th will be issued a dividend of $1.0206 per share. The ex-dividend date is Wednesday, July 17th. This is an increase from Fomento Económico Mexicano’s previous semi-annual dividend of $0.74. This represents a dividend yield of 1.5%. Fomento Económico Mexicano’s payout ratio is 14.63%.

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.