21,700 Fomento Economico Mexicano S.A.B. de C.V. $FMX Shares Sold by Sustainable Growth Advisers LP

Sustainable Growth Advisers LP lessened its stake in shares of Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) by 20.6% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 83,548 shares of the company’s stock after selling 21,700 shares during the period. Sustainable Growth Advisers LP’s holdings in Fomento Economico Mexicano were worth $9,905,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of FMX. Assenagon Asset Management S.A. grew its holdings in shares of Fomento Economico Mexicano by 367.3% in the third quarter. Assenagon Asset Management S.A. now owns 88,097 shares of the company’s stock valued at $10,445,000 after purchasing an additional 69,245 shares during the period. Ninety One UK Ltd increased its position in Fomento Economico Mexicano by 75.2% during the third quarter. Ninety One UK Ltd now owns 844,817 shares of the company’s stock worth $100,162,000 after purchasing an additional 362,738 shares during the last quarter. Ninety One North America Inc. raised its stake in Fomento Economico Mexicano by 111.0% during the third quarter. Ninety One North America Inc. now owns 226,502 shares of the company’s stock worth $26,854,000 after purchasing an additional 119,174 shares during the period. GAMMA Investing LLC raised its stake in Fomento Economico Mexicano by 79.2% during the third quarter. GAMMA Investing LLC now owns 396 shares of the company’s stock worth $47,000 after purchasing an additional 175 shares during the period. Finally, QRG Capital Management Inc. raised its stake in Fomento Economico Mexicano by 33.3% during the second quarter. QRG Capital Management Inc. now owns 2,557 shares of the company’s stock worth $327,000 after purchasing an additional 639 shares during the period. Hedge funds and other institutional investors own 61.00% of the company’s stock.

Insider Buying and Selling

In related news, Director Michael David Kahn bought 2,100 shares of the firm’s stock in a transaction on Tuesday, August 11th. The shares were bought at an average price of $118.13 per share, with a total value of $248,073.00. Following the completion of the transaction, the director directly owned 2,100 shares of the company’s stock, valued at $248,073. This represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 5.68% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on FMX shares. JPMorgan Chase & Co. boosted their target price on shares of Fomento Economico Mexicano from $117.00 to $126.00 and gave the company an “overweight” rating in a report on Friday, June 26th. Deutsche Bank Aktiengesellschaft set a $150.00 price target on shares of Fomento Economico Mexicano in a report on Tuesday, August 4th. Barclays raised their price target on shares of Fomento Economico Mexicano from $125.00 to $130.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 14th. Weiss Ratings raised shares of Fomento Economico Mexicano from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, September 4th. Finally, UBS Group decreased their price objective on Fomento Economico Mexicano from $139.00 to $130.00 and set a “neutral” rating on the stock in a report on Thursday, October 1st. Three analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $135.67.

Fomento Economico Mexicano Stock Performance

Shares of Fomento Economico Mexicano stock opened at $120.92 on Friday. Fomento Economico Mexicano S.A.B. de C.V. has a 52 week low of $90.87 and a 52 week high of $141.47. The business’s fifty day simple moving average is $119.43 and its 200-day simple moving average is $121.46. The firm has a market cap of $41.78 billion, a PE ratio of 33.06, a price-to-earnings-growth ratio of 0.64 and a beta of 0.41. The company has a quick ratio of 0.85, a current ratio of 1.14 and a debt-to-equity ratio of 0.41.

Fomento Economico Mexicano (NYSE:FMX) last released its quarterly earnings results on Tuesday, June 30th. The company reported $0.93 earnings per share for the quarter. The business had revenue of $13.20 billion during the quarter. Fomento Economico Mexicano had a return on equity of 7.24% and a net margin of 3.60%. Equities analysts forecast that Fomento Economico Mexicano S.A.B. de C.V. will post 6.35 earnings per share for the current year.

Fomento Economico Mexicano Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, October 26th. Shareholders of record on Wednesday, October 14th will be given a $1.7804 dividend. The ex-dividend date of this dividend is Wednesday, October 14th. This is a decrease from Fomento Economico Mexicano’s previous quarterly dividend of $1.8270. This represents a $7.12 dividend on an annualized basis and a yield of 5.9%. Fomento Economico Mexicano’s dividend payout ratio is currently 47.60%.

Fomento Economico Mexicano Profile

Fomento Económico Mexicano, SAB. de C.V. (FEMSA) is a Mexico-based multinational company with operations in beverage production, retail, and logistics. Through Coca-Cola FEMSA, it produces, distributes, and markets Coca-Cola products and other beverages under a portfolio that includes soft drinks, bottled water, juices, and related products.

Coca-Cola FEMSA serves customers across several Latin American markets, including Mexico, Brazil, Colombia, Guatemala, Costa Rica, Panama, Nicaragua, Argentina, and Venezuela.