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

Sustainable Growth Advisers LP trimmed its position in Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) by 13.2% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 234,839 shares of the company’s stock after selling 35,648 shares during the period. Sustainable Growth Advisers LP’s holdings in Fomento Economico Mexicano were worth $24,184,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. INCA Investments LLC increased its position in shares of Fomento Economico Mexicano by 106.1% during the second quarter. INCA Investments LLC now owns 274,769 shares of the company’s stock valued at $28,296,000 after buying an additional 141,419 shares during the period. Royal Bank of Canada grew its holdings in shares of Fomento Economico Mexicano by 1.9% during the first quarter. Royal Bank of Canada now owns 5,369,981 shares of the company’s stock valued at $524,003,000 after buying an additional 100,898 shares during the last quarter. Cerity Partners LLC increased its position in shares of Fomento Economico Mexicano by 25.4% during the first quarter. Cerity Partners LLC now owns 13,778 shares of the company’s stock valued at $1,344,000 after acquiring an additional 2,795 shares in the last quarter. Prime Capital Investment Advisors LLC raised its holdings in Fomento Economico Mexicano by 84.9% in the 2nd quarter. Prime Capital Investment Advisors LLC now owns 6,665 shares of the company’s stock worth $686,000 after acquiring an additional 3,060 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd lifted its position in Fomento Economico Mexicano by 158.3% in the 2nd quarter. Y Intercept Hong Kong Ltd now owns 7,863 shares of the company’s stock valued at $810,000 after acquiring an additional 4,819 shares in the last quarter. Hedge funds and other institutional investors own 61.00% of the company’s stock.

Wall Street Analysts Forecast Growth

FMX has been the subject of a number of recent research reports. Morgan Stanley reiterated an “equal weight” rating and set a $97.00 price objective (down from $132.00) on shares of Fomento Economico Mexicano in a research note on Tuesday, August 19th. Weiss Ratings restated a “hold (c-)” rating on shares of Fomento Economico Mexicano in a research report on Wednesday, October 8th. Citigroup upgraded Fomento Economico Mexicano from a “neutral” rating to a “buy” rating and increased their price target for the stock from $93.00 to $97.00 in a research note on Tuesday, September 9th. UBS Group raised Fomento Economico Mexicano from a “neutral” rating to a “buy” rating and dropped their price objective for the stock from $115.00 to $111.00 in a research note on Friday, September 19th. Finally, Zacks Research upgraded Fomento Economico Mexicano from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 28th. Four research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Fomento Economico Mexicano currently has an average rating of “Hold” and a consensus target price of $101.63.

Fomento Economico Mexicano Price Performance

Fomento Economico Mexicano stock opened at $93.90 on Friday. Fomento Economico Mexicano S.A.B. de C.V. has a 52-week low of $81.07 and a 52-week high of $108.74. The company has a quick ratio of 1.06, a current ratio of 1.10 and a debt-to-equity ratio of 0.50. The firm’s fifty day moving average is $94.53 and its 200 day moving average is $96.89. The company has a market cap of $33.60 billion, a price-to-earnings ratio of 37.86, a PEG ratio of 5.54 and a beta of 0.70.

Fomento Economico Mexicano (NYSE:FMX) last released its quarterly earnings results on Tuesday, October 28th. The company reported $0.88 EPS for the quarter, missing the consensus estimate of $1.06 by ($0.18). The company had revenue of $11.71 billion during the quarter, compared to analysts’ expectations of $215.60 billion. Fomento Economico Mexicano had a return on equity of 5.01% and a net margin of 2.09%. Sell-side analysts forecast that Fomento Economico Mexicano S.A.B. de C.V. will post 5.32 EPS for the current fiscal year.

Fomento Economico Mexicano Increases Dividend

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

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.