Sarasin & Partners LLP Reduces Holdings in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Sarasin & Partners LLP trimmed its stake in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) by 77.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,000 shares of the company’s stock after selling 51,077 shares during the period. Sarasin & Partners LLP’s holdings in Fomento Económico Mexicano were worth $1,481,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. Park Place Capital Corp boosted its stake in Fomento Económico Mexicano by 78.2% during the 1st quarter. Park Place Capital Corp now owns 221 shares of the company’s stock worth $29,000 after purchasing an additional 97 shares during the period. Mather Group LLC. acquired a new stake in Fomento Económico Mexicano during the 1st quarter worth $34,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in Fomento Económico Mexicano during the 2nd quarter worth $51,000. CWM LLC boosted its stake in Fomento Económico Mexicano by 28.7% during the 2nd quarter. CWM LLC now owns 956 shares of the company’s stock worth $103,000 after purchasing an additional 213 shares during the period. Finally, Contravisory Investment Management Inc. acquired a new stake in shares of Fomento Económico Mexicano in the 2nd quarter worth $163,000.

Fomento Económico Mexicano Price Performance

Shares of NYSE FMX traded up $0.09 during midday trading on Friday, hitting $98.51. The company had a trading volume of 18,897 shares, compared to its average volume of 686,260. The company has a quick ratio of 1.44, a current ratio of 1.72 and a debt-to-equity ratio of 0.36. Fomento Económico Mexicano, S.A.B. de C.V. has a twelve month low of $97.58 and a twelve month high of $143.43. The business has a 50-day simple moving average of $104.13 and a two-hundred day simple moving average of $112.09. The firm has a market capitalization of $35.25 billion, a price-to-earnings ratio of 26.67, a price-to-earnings-growth ratio of 5.60 and a beta of 0.94.

Fomento Económico Mexicano (NYSE:FMX) last announced its quarterly earnings data on Wednesday, July 24th. The company reported $1.87 EPS for the quarter. Fomento Económico Mexicano had a net margin of 3.75% and a return on equity of 8.65%. The firm had revenue of $11.54 billion during the quarter. Equities research analysts anticipate that Fomento Económico Mexicano, S.A.B. de C.V. will post 5.41 earnings per share for the current year.

Fomento Económico Mexicano Cuts Dividend

The firm also recently announced an annual dividend, which will be paid on Monday, October 28th. Shareholders of record on Wednesday, October 16th will be issued a dividend of $0.864 per share. The ex-dividend date of this dividend is Wednesday, October 16th. This represents a yield of 0.87%. Fomento Económico Mexicano’s dividend payout ratio (DPR) is currently 23.31%.

Wall Street Analyst Weigh In

FMX has been the subject of several recent analyst reports. Barclays reduced their target price on shares of Fomento Económico Mexicano from $160.00 to $145.00 and set an “overweight” rating for the company in a research note on Monday, July 15th. JPMorgan Chase & Co. cut shares of Fomento Económico Mexicano from an “overweight” rating to a “neutral” rating and raised their target price for the stock from $104.00 to $109.00 in a research note on Monday, September 23rd. Finally, StockNews.com upgraded shares of Fomento Económico Mexicano from a “hold” rating to a “buy” rating in a research note on Thursday. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $133.40.

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.