Citigroup Inc. Cuts Position in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Citigroup Inc. decreased its position in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX - Free Report) by 12.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 645,233 shares of the company's stock after selling 92,716 shares during the period. Citigroup Inc. owned 0.18% of Fomento Económico Mexicano worth $63,691,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in FMX. Baillie Gifford & Co. grew its position in Fomento Económico Mexicano by 10.8% in the third quarter. Baillie Gifford & Co. now owns 4,306,739 shares of the company's stock worth $425,118,000 after acquiring an additional 421,057 shares during the period. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in shares of Fomento Económico Mexicano by 740.2% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 472,200 shares of the company's stock worth $50,832,000 after purchasing an additional 416,000 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Fomento Económico Mexicano by 267.6% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 313,602 shares of the company's stock worth $30,956,000 after purchasing an additional 228,284 shares during the last quarter. Millennium Management LLC increased its position in shares of Fomento Económico Mexicano by 577.6% during the 2nd quarter. Millennium Management LLC now owns 222,464 shares of the company's stock worth $23,948,000 after purchasing an additional 189,632 shares during the last quarter. Finally, Employees Retirement System of Texas raised its holdings in Fomento Económico Mexicano by 64.1% in the 2nd quarter. Employees Retirement System of Texas now owns 471,096 shares of the company's stock valued at $50,713,000 after buying an additional 184,000 shares during the period.

Fomento Económico Mexicano Stock Performance

FMX stock traded up $0.50 during trading on Friday, hitting $87.14. The company had a trading volume of 879,265 shares, compared to its average volume of 672,191. Fomento Económico Mexicano, S.A.B. de C.V. has a 1-year low of $86.13 and a 1-year high of $143.43. The firm has a 50-day moving average price of $97.00 and a 200-day moving average price of $105.94. The company has a quick ratio of 1.44, a current ratio of 1.72 and a debt-to-equity ratio of 0.36. The firm has a market cap of $31.18 billion, a PE ratio of 22.34, a price-to-earnings-growth ratio of 5.07 and a beta of 0.94.

Fomento Económico Mexicano Cuts Dividend

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

Analyst Upgrades and Downgrades

FMX has been the topic of several research reports. Barclays decreased their target price on 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. downgraded Fomento Económico Mexicano from an "overweight" rating to a "neutral" rating and lifted their price target for the stock from $104.00 to $109.00 in a report on Monday, September 23rd. Finally, StockNews.com raised shares of Fomento Económico Mexicano from a "hold" rating to a "buy" rating in a research report on Wednesday, November 6th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $128.25.

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.