Connor Clark & Lunn Investment Management Ltd. Reduces Holdings in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Connor Clark & Lunn Investment Management Ltd. lowered its stake in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) by 68.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 97,506 shares of the company’s stock after selling 216,096 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Fomento Económico Mexicano were worth $8,336,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Brooklyn Investment Group increased its holdings in shares of Fomento Económico Mexicano by 82.8% during the 4th quarter. Brooklyn Investment Group now owns 340 shares of the company’s stock worth $29,000 after buying an additional 154 shares during the last quarter. Mather Group LLC. raised its holdings in shares of Fomento Económico Mexicano by 179.1% in the 4th quarter. Mather Group LLC. now owns 575 shares of the company’s stock worth $49,000 after purchasing an additional 369 shares during the period. Exchange Traded Concepts LLC acquired a new position in shares of Fomento Económico Mexicano in the 4th quarter valued at about $51,000. Banque Cantonale Vaudoise purchased a new stake in shares of Fomento Económico Mexicano during the 3rd quarter worth about $55,000. Finally, Rosenberg Matthew Hamilton increased its position in Fomento Económico Mexicano by 30.2% during the 4th quarter. Rosenberg Matthew Hamilton now owns 758 shares of the company’s stock worth $65,000 after purchasing an additional 176 shares in the last quarter. Hedge funds and other institutional investors own 61.00% of the company’s stock.

Fomento Económico Mexicano Stock Up 1.4 %

Shares of Fomento Económico Mexicano stock opened at $99.04 on Friday. Fomento Económico Mexicano, S.A.B. de C.V. has a 1-year low of $81.07 and a 1-year high of $131.56. The company has a market capitalization of $35.43 billion, a PE ratio of 25.39, a P/E/G ratio of 5.26 and a beta of 0.87. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.62 and a quick ratio of 1.32. The business has a 50-day moving average of $88.73 and a 200-day moving average of $92.63.

Fomento Económico Mexicano (NYSE:FMX) last posted its quarterly earnings data on Thursday, February 27th. The company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.51 by ($1.05). The business had revenue of $9.99 billion for the quarter, compared to analysts’ expectations of $201.67 billion. Fomento Económico Mexicano had a return on equity of 8.37% and a net margin of 3.22%. As a group, equities analysts forecast 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 business also recently disclosed a dividend, which was paid on Friday, January 17th. Shareholders of record on Friday, January 17th were issued a dividend of $0.9201 per share. This is a positive change 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 (DPR) is currently 11.03%.

Analysts Set New Price Targets

FMX has been the subject of several research reports. The Goldman Sachs Group decreased their price objective on shares of Fomento Económico Mexicano from $109.00 to $97.80 and set a “buy” rating for the company in a research note on Tuesday, January 28th. Barclays increased their price target on Fomento Económico Mexicano from $99.00 to $102.00 and gave the company an “equal weight” rating in a report on Tuesday, March 4th. Finally, 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 report on Friday. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $103.95.

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.