PNC Financial Services Group Inc. Trims Position in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

PNC Financial Services Group Inc. reduced its stake in shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) by 17.8% during the fourth quarter, Holdings Channel reports. The firm owned 7,877 shares of the company’s stock after selling 1,709 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Fomento Económico Mexicano were worth $1,027,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. EverSource Wealth Advisors LLC lifted its stake in shares of Fomento Económico Mexicano by 6.5% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,174 shares of the company’s stock valued at $153,000 after purchasing an additional 72 shares during the period. Van ECK Associates Corp increased its stake in shares of Fomento Económico Mexicano by 48.6% in the 4th quarter. Van ECK Associates Corp now owns 318 shares of the company’s stock worth $41,000 after acquiring an additional 104 shares in the last quarter. Blue Trust Inc. lifted its position in Fomento Económico Mexicano by 4.0% during the 4th quarter. Blue Trust Inc. now owns 2,855 shares of the company’s stock valued at $372,000 after acquiring an additional 109 shares during the period. Parallel Advisors LLC boosted its stake in Fomento Económico Mexicano by 22.1% during the fourth quarter. Parallel Advisors LLC now owns 741 shares of the company’s stock worth $97,000 after acquiring an additional 134 shares in the last quarter. Finally, Kestra Advisory Services LLC grew its holdings in Fomento Económico Mexicano by 6.0% in the third quarter. Kestra Advisory Services LLC now owns 2,495 shares of the company’s stock worth $272,000 after purchasing an additional 142 shares during the period.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Bank of America reaffirmed a “neutral” rating on shares of Fomento Económico Mexicano in a research report on Monday, February 26th. StockNews.com downgraded shares of Fomento Económico Mexicano from a “buy” rating to a “hold” rating in a research note on Monday, February 26th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $135.75.

Fomento Económico Mexicano Trading Down 1.0 %

NYSE:FMX opened at $106.75 on Monday. The company has a 50 day simple moving average of $115.65 and a two-hundred day simple moving average of $125.06. The company has a quick ratio of 1.63, a current ratio of 1.95 and a debt-to-equity ratio of 0.34. Fomento Económico Mexicano, S.A.B. de C.V. has a 12 month low of $99.24 and a 12 month high of $143.43.

Fomento Económico Mexicano (NYSE:FMX) last posted its earnings results on Friday, April 26th. The company reported $0.47 earnings per share for the quarter. The company had revenue of $10.76 billion for the quarter. Fomento Económico Mexicano had a return on equity of 8.20% and a net margin of 2.91%. Sell-side analysts expect that Fomento Económico Mexicano, S.A.B. de C.V. will post 5.43 earnings per share for the current fiscal year.

Fomento Económico Mexicano Increases Dividend

The firm also recently announced an annual dividend, which was paid on Monday, April 29th. Shareholders of record on Wednesday, April 17th were issued a dividend of $1.115 per share. This is a boost from Fomento Económico Mexicano’s previous annual dividend of $0.74. This represents a yield of 0.87%. The ex-dividend date was Tuesday, April 16th. Fomento Económico Mexicano’s dividend payout ratio is currently 16.80%.

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.