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

Sarasin & Partners LLP lessened its holdings in shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) by 77.3% in the 3rd quarter, according to the company in its most recent Form 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Baillie Gifford & Co. grew its position in Fomento Económico Mexicano by 9.0% during the first quarter. Baillie Gifford & Co. now owns 4,183,454 shares of the company’s stock valued at $544,979,000 after buying an additional 344,815 shares during the period. ANTIPODES PARTNERS Ltd grew its position in Fomento Económico Mexicano by 19.4% during the first quarter. ANTIPODES PARTNERS Ltd now owns 945,491 shares of the company’s stock valued at $123,169,000 after buying an additional 153,771 shares during the period. Black Creek Investment Management Inc. grew its position in Fomento Económico Mexicano by 15.5% during the second quarter. Black Creek Investment Management Inc. now owns 906,798 shares of the company’s stock valued at $97,617,000 after buying an additional 121,800 shares during the period. LA Financiere DE L Echiquier grew its position in shares of Fomento Económico Mexicano by 22.1% in the second quarter. LA Financiere DE L Echiquier now owns 776,241 shares of the company’s stock valued at $83,562,000 after purchasing an additional 140,309 shares during the period. Finally, Perpetual Ltd grew its position in shares of Fomento Económico Mexicano by 9.4% in the third quarter. Perpetual Ltd now owns 746,826 shares of the company’s stock valued at $73,719,000 after purchasing an additional 64,291 shares during the period.

Fomento Económico Mexicano Stock Up 0.1 %

FMX traded up $0.09 during trading hours on Friday, hitting $98.51. 18,897 shares of the company’s stock were exchanged, compared to its average volume of 686,260. Fomento Económico Mexicano, S.A.B. de C.V. has a 12-month low of $97.58 and a 12-month high of $143.43. The firm has a 50 day moving average of $104.13 and a 200 day moving average of $112.09. The firm has a market cap of $35.25 billion, a P/E ratio of 26.67, a price-to-earnings-growth ratio of 5.60 and a beta of 0.94. The company has a current ratio of 1.72, a quick ratio of 1.44 and a debt-to-equity ratio of 0.36.

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 company had revenue of $11.54 billion for the quarter. Analysts predict that Fomento Económico Mexicano, S.A.B. de C.V. will post 5.41 EPS for the current fiscal year.

Fomento Económico Mexicano Cuts Dividend

The company also recently disclosed an annual dividend, which will be paid on Monday, October 28th. Shareholders of record on Wednesday, October 16th will be given a $0.864 dividend. This represents a dividend yield of 0.87%. The ex-dividend date of this dividend is Wednesday, October 16th. Fomento Económico Mexicano’s dividend payout ratio is presently 23.31%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on FMX. Barclays dropped their target price on shares of Fomento Económico Mexicano from $160.00 to $145.00 and set an “overweight” rating on the stock in a research report on Monday, July 15th. JPMorgan Chase & Co. lowered shares of Fomento Económico Mexicano from an “overweight” rating to a “neutral” rating and lifted their target price for the company from $104.00 to $109.00 in a research report on Monday, September 23rd. Finally, StockNews.com upgraded shares of Fomento Económico Mexicano from a “hold” rating to a “buy” rating in a research report on Thursday. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $133.40.

About Fomento Económico 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.