Comgest Global Investors S.A.S. Cuts Stock Position in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Comgest Global Investors S.A.S. cut its holdings in shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX - Free Report) by 5.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 534,403 shares of the company's stock after selling 33,125 shares during the quarter. Fomento Económico Mexicano makes up about 0.8% of Comgest Global Investors S.A.S.'s investment portfolio, making the stock its 22nd biggest position. Comgest Global Investors S.A.S. owned about 0.15% of Fomento Económico Mexicano worth $52,751,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the company. Oldfield Partners LLP increased its holdings in shares of Fomento Económico Mexicano by 0.8% in the second 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 last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of Fomento Económico Mexicano by 8.9% in the first quarter. EverSource Wealth Advisors LLC now owns 1,279 shares of the company's stock worth $167,000 after purchasing an additional 105 shares during the last quarter. Baker Ellis Asset Management LLC increased its stake in Fomento Económico Mexicano by 0.3% during the second quarter. Baker Ellis Asset Management LLC now owns 43,446 shares of the company's stock worth $4,677,000 after acquiring an additional 140 shares during the last quarter. Wealth Alliance lifted its position in Fomento Económico Mexicano by 4.4% in the second quarter. Wealth Alliance now owns 3,510 shares of the company's stock worth $378,000 after buying an additional 147 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. lifted its position in Fomento Económico Mexicano by 9.0% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 2,479 shares of the company's stock worth $245,000 after buying an additional 204 shares during the last quarter.

Analysts Set New Price Targets

A number of brokerages recently issued reports on FMX. JPMorgan Chase & Co. downgraded Fomento Económico Mexicano from an "overweight" rating to a "neutral" rating and raised their price target for the stock from $104.00 to $109.00 in a research report on Monday, September 23rd. StockNews.com upgraded Fomento Económico Mexicano from a "hold" rating to a "buy" rating in a research report on Wednesday, November 6th. Finally, Barclays decreased their target price on Fomento Económico Mexicano from $125.00 to $118.00 and set an "overweight" rating for the company in a research report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Fomento Económico Mexicano presently has a consensus rating of "Hold" and a consensus target price of $128.25.

Fomento Económico Mexicano Stock Down 1.2 %

Shares of Fomento Económico Mexicano stock traded down $1.08 during trading on Friday, hitting $90.08. 460,568 shares of the stock traded hands, compared to its average volume of 681,823. The firm has a market cap of $32.23 billion, a P/E ratio of 23.10, a price-to-earnings-growth ratio of 5.43 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, S.A.B. de C.V. has a 52-week low of $90.00 and a 52-week high of $143.43. The stock's fifty day simple moving average is $98.42 and its 200 day simple moving average is $107.09.

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 was Wednesday, October 16th. This represents a dividend yield of 0.87%. Fomento Económico Mexicano's dividend payout ratio is currently 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.