Sustainable Growth Advisers LP Sells 35,648 Shares of Fomento Economico Mexicano S.A.B. de C.V. $FMX

Sustainable Growth Advisers LP decreased its holdings in shares of Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) by 13.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 234,839 shares of the company’s stock after selling 35,648 shares during the quarter. Sustainable Growth Advisers LP owned 0.07% of Fomento Economico Mexicano worth $24,184,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in FMX. Nuveen LLC bought a new stake in shares of Fomento Economico Mexicano during the first quarter worth $330,437,000. Itau Unibanco Holding S.A. boosted its holdings in Fomento Economico Mexicano by 105.4% in the first quarter. Itau Unibanco Holding S.A. now owns 1,112,036 shares of the company’s stock valued at $106,139,000 after acquiring an additional 570,640 shares during the last quarter. Strs Ohio acquired a new position in shares of Fomento Economico Mexicano in the 1st quarter worth approximately $28,718,000. Acadian Asset Management LLC boosted its stake in shares of Fomento Economico Mexicano by 325.7% in the 1st quarter. Acadian Asset Management LLC now owns 383,644 shares of the company’s stock valued at $37,421,000 after purchasing an additional 293,524 shares during the last quarter. Finally, INCA Investments LLC raised its stake in Fomento Economico Mexicano by 106.1% during the second quarter. INCA Investments LLC now owns 274,769 shares of the company’s stock worth $28,296,000 after buying an additional 141,419 shares during the last quarter. 61.00% of the stock is currently owned by institutional investors and hedge funds.

Fomento Economico Mexicano Stock Down 0.1%

FMX stock opened at $93.90 on Friday. The stock has a fifty day moving average of $94.53 and a 200-day moving average of $96.89. Fomento Economico Mexicano S.A.B. de C.V. has a fifty-two week low of $81.07 and a fifty-two week high of $108.74. The company has a market capitalization of $33.60 billion, a price-to-earnings ratio of 37.86, a PEG ratio of 5.54 and a beta of 0.70. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.06 and a current ratio of 1.10.

Fomento Economico Mexicano (NYSE:FMX) last posted its earnings results on Tuesday, October 28th. The company reported $0.88 earnings per share for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.18). Fomento Economico Mexicano had a return on equity of 5.01% and a net margin of 2.09%.The firm had revenue of $11.71 billion for the quarter, compared to the consensus estimate of $215.60 billion. As a group, equities research analysts predict that Fomento Economico Mexicano S.A.B. de C.V. will post 5.32 earnings per share for the current year.

Fomento Economico Mexicano Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, October 27th. Investors of record on Thursday, October 16th were paid a $1.9982 dividend. This is an increase from Fomento Economico Mexicano’s previous quarterly dividend of $1.36. This represents a $7.99 dividend on an annualized basis and a yield of 8.5%. The ex-dividend date of this dividend was Thursday, October 16th. Fomento Economico Mexicano’s payout ratio is 89.92%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Zacks Research raised Fomento Economico Mexicano from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 28th. Morgan Stanley reaffirmed an “equal weight” rating and set a $97.00 price objective (down previously from $132.00) on shares of Fomento Economico Mexicano in a research report on Tuesday, August 19th. Barclays dropped their price objective on shares of Fomento Economico Mexicano from $107.00 to $105.00 and set an “equal weight” rating on the stock in a report on Monday, November 3rd. JPMorgan Chase & Co. raised their target price on Fomento Economico Mexicano from $96.00 to $102.00 and gave the company a “neutral” rating in a research note on Monday, October 20th. Finally, UBS Group upgraded Fomento Economico Mexicano from a “neutral” rating to a “buy” rating and cut their price target for the stock from $115.00 to $111.00 in a report on Friday, September 19th. Four analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, Fomento Economico Mexicano presently has a consensus rating of “Hold” and an average price target of $101.63.

About Fomento Economico 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.