Synovus Financial Corp Sells 5,926 Shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Synovus Financial Corp cut its holdings in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) by 48.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,266 shares of the company’s stock after selling 5,926 shares during the period. Synovus Financial Corp’s holdings in Fomento Económico Mexicano were worth $536,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Park Avenue Securities LLC acquired a new stake in shares of Fomento Económico Mexicano in the fourth quarter worth about $225,000. Sarasin & Partners LLP lifted its holdings in Fomento Económico Mexicano by 33.3% in the 4th quarter. Sarasin & Partners LLP now owns 20,000 shares of the company’s stock worth $1,710,000 after purchasing an additional 5,000 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in Fomento Económico Mexicano by 141.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 135,003 shares of the company’s stock worth $11,541,000 after purchasing an additional 79,181 shares during the period. Stifel Financial Corp grew its holdings in Fomento Económico Mexicano by 1.2% during the third quarter. Stifel Financial Corp now owns 12,479 shares of the company’s stock valued at $1,232,000 after purchasing an additional 149 shares during the last quarter. Finally, American Century Companies Inc. raised its position in shares of Fomento Económico Mexicano by 1.9% in the fourth quarter. American Century Companies Inc. now owns 250,188 shares of the company’s stock valued at $21,389,000 after purchasing an additional 4,674 shares during the period. 61.00% of the stock is currently owned by institutional investors.

Fomento Económico Mexicano Stock Performance

NYSE:FMX opened at $105.83 on Friday. The firm’s 50-day moving average is $95.86 and its 200-day moving average is $92.18. The company has a market cap of $37.87 billion, a price-to-earnings ratio of 27.14, a PEG ratio of 5.26 and a beta of 0.68. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.32 and a current ratio of 1.62. Fomento Económico Mexicano, S.A.B. de C.V. has a 52-week low of $81.08 and a 52-week high of $123.09.

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 the consensus estimate of $1.51 by ($1.05). Fomento Económico Mexicano had a net margin of 3.22% and a return on equity of 8.37%. The firm had revenue of $9.99 billion for the quarter, compared to the consensus estimate of $201.67 billion. Equities research analysts anticipate that Fomento Económico Mexicano, S.A.B. de C.V. will post 5.32 earnings per share for the current year.

Fomento Económico Mexicano Increases Dividend

The company also recently announced a dividend, which will be paid on Monday, May 5th. Investors of record on Friday, April 25th will be paid a $1.628 dividend. This represents a dividend yield of 1.57%. This is a positive change from Fomento Económico Mexicano’s previous dividend of $0.92. The ex-dividend date is Thursday, April 24th. Fomento Económico Mexicano’s dividend payout ratio is presently 11.03%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on FMX shares. Barclays raised their target price on shares of Fomento Económico Mexicano from $99.00 to $102.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 4th. The Goldman Sachs Group lowered their price target on Fomento Económico Mexicano from $109.00 to $97.80 and set a “buy” rating on the stock in a research report on Tuesday, January 28th. Itau BBA Securities raised Fomento Económico Mexicano from a “market perform” rating to an “outperform” rating in a research report on Monday, April 7th. 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, March 14th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $103.95.

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.