Baillie Gifford & Co. Has $425.12 Million Stock Holdings in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Baillie Gifford & Co. lifted its position in shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX - Free Report) by 10.8% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,306,739 shares of the company's stock after buying an additional 421,057 shares during the period. Baillie Gifford & Co. owned approximately 1.20% of Fomento Económico Mexicano worth $425,118,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in FMX. Oldfield Partners LLP boosted its position in Fomento Económico Mexicano by 0.8% during the 2nd quarter. Oldfield Partners LLP now owns 13,300 shares of the company's stock worth $1,432,000 after purchasing an additional 100 shares during the period. EverSource Wealth Advisors LLC boosted its position in Fomento Económico Mexicano by 8.9% in 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 during the last quarter. Baker Ellis Asset Management LLC boosted its position in Fomento Económico Mexicano by 0.3% in the 2nd quarter. Baker Ellis Asset Management LLC now owns 43,446 shares of the company's stock valued at $4,677,000 after buying an additional 140 shares during the last quarter. Wealth Alliance lifted its position in shares of Fomento Económico Mexicano by 4.4% during the second quarter. Wealth Alliance now owns 3,510 shares of the company's stock worth $378,000 after purchasing an additional 147 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. raised its stake in Fomento Económico Mexicano by 9.0% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 2,479 shares of the company's stock worth $245,000 after acquiring an additional 204 shares during the period.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Barclays lowered their price objective on shares of Fomento Económico Mexicano from $125.00 to $118.00 and set an "overweight" rating on the stock in a research note on Wednesday, October 30th. 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 report on Monday, September 23rd. Finally, StockNews.com upgraded shares of Fomento Económico Mexicano from a "hold" rating to a "buy" rating in a report on Wednesday, November 6th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, Fomento Económico Mexicano has an average rating of "Hold" and a consensus target price of $128.25.

Fomento Económico Mexicano Price Performance

Shares of Fomento Económico Mexicano stock traded down $2.98 during trading on Tuesday, hitting $93.22. 202,602 shares of the company's stock traded hands, compared to its average volume of 683,766. The company has a market cap of $33.35 billion, a PE ratio of 24.68, a PEG ratio of 5.67 and a beta of 0.94. Fomento Económico Mexicano, S.A.B. de C.V. has a twelve month low of $93.03 and a twelve month high of $143.43. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.72 and a quick ratio of 1.44. The firm's fifty day moving average price is $99.23 and its 200 day moving average price is $107.68.

Fomento Económico Mexicano Cuts Dividend

The company also recently declared an annual dividend, which was paid on Monday, October 28th. Shareholders of record on Wednesday, October 16th were given a $0.864 dividend. The ex-dividend date was Wednesday, October 16th. This represents a yield of 0.87%. Fomento Económico Mexicano's dividend payout ratio (DPR) is presently 12.82%.

Fomento Económico Mexicano Company 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.