Robeco Institutional Asset Management B.V. Sells 86,621 Shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Robeco Institutional Asset Management B.V. cut its stake in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) by 13.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 580,696 shares of the company’s stock after selling 86,621 shares during the quarter. Robeco Institutional Asset Management B.V. owned about 0.16% of Fomento Económico Mexicano worth $57,321,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in Fomento Económico Mexicano in the second quarter worth about $51,000. Van ECK Associates Corp boosted its position in shares of Fomento Económico Mexicano by 61.7% during the third quarter. Van ECK Associates Corp now owns 802 shares of the company’s stock valued at $78,000 after purchasing an additional 306 shares in the last quarter. CWM LLC grew its stake in Fomento Económico Mexicano by 28.7% in the second quarter. CWM LLC now owns 956 shares of the company’s stock worth $103,000 after purchasing an additional 213 shares during the period. Contravisory Investment Management Inc. bought a new position in Fomento Económico Mexicano in the second quarter worth $163,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of Fomento Económico Mexicano by 8.9% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,279 shares of the company’s stock valued at $167,000 after buying an additional 105 shares in the last quarter.

Fomento Económico Mexicano Trading Up 0.9 %

Shares of NYSE:FMX opened at $97.61 on Tuesday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.72 and a quick ratio of 1.44. Fomento Económico Mexicano, S.A.B. de C.V. has a 1 year low of $94.86 and a 1 year high of $143.43. The company has a market cap of $34.92 billion, a P/E ratio of 25.03, a PEG ratio of 5.47 and a beta of 0.94. The stock’s fifty day moving average price is $99.94 and its 200-day moving average price is $108.40.

Fomento Económico Mexicano Cuts Dividend

The business also recently declared an annual dividend, which was paid on Monday, October 28th. Stockholders of record on Wednesday, October 16th were issued a dividend of $0.864 per share. This represents a dividend yield of 0.87%. The ex-dividend date was Wednesday, October 16th. Fomento Económico Mexicano’s payout ratio is presently 12.82%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on FMX. JPMorgan Chase & Co. lowered shares of Fomento Económico Mexicano from an “overweight” rating to a “neutral” rating and increased their price target for the stock from $104.00 to $109.00 in a research note on Monday, September 23rd. StockNews.com downgraded shares of Fomento Económico Mexicano from a “buy” rating to a “hold” rating in a research note on Tuesday, October 29th. Finally, Barclays lowered their target price on shares of Fomento Económico Mexicano from $125.00 to $118.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $128.00.

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.