Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) Shares Sold by Creative Planning

Creative Planning lowered its position in shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX - Free Report) by 21.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,746 shares of the company's stock after selling 5,695 shares during the period. Creative Planning's holdings in Fomento Económico Mexicano were worth $2,233,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Park Place Capital Corp increased its stake in shares of Fomento Económico Mexicano by 78.2% during the first quarter. Park Place Capital Corp now owns 221 shares of the company's stock valued at $29,000 after buying an additional 97 shares during the period. Mather Group LLC. purchased a new position in Fomento Económico Mexicano in the first quarter valued at about $34,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new position in Fomento Económico Mexicano in the second quarter valued at about $51,000. 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 valued at $103,000 after purchasing an additional 213 shares during the last quarter. Finally, Contravisory Investment Management Inc. purchased a new position in Fomento Económico Mexicano in the second quarter valued at about $163,000.

Fomento Económico Mexicano Stock Down 0.2 %

Shares of FMX stock traded down $0.24 during trading hours on Monday, reaching $99.43. 811,623 shares of the company's stock were exchanged, compared to its average volume of 690,250. Fomento Económico Mexicano, S.A.B. de C.V. has a 1 year low of $97.58 and a 1 year high of $143.43. The stock has a market cap of $35.57 billion, a PE ratio of 26.86, a PEG ratio of 5.75 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. The stock's fifty day moving average price is $104.98 and its two-hundred day moving average price is $112.72.

Fomento Económico Mexicano (NYSE:FMX - Get Free Report) last released its earnings results on Wednesday, July 24th. The company reported $1.87 EPS for the quarter. Fomento Económico Mexicano had a return on equity of 8.65% and a net margin of 3.75%. The firm had revenue of $11.54 billion during the quarter. Research analysts predict that Fomento Económico Mexicano, S.A.B. de C.V. will post 5.39 EPS for the current year.

Fomento Económico Mexicano Cuts Dividend

The company also recently announced an annual dividend, which will be paid on Monday, October 28th. Investors of record on Wednesday, October 16th will be issued a dividend of $0.864 per share. 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 (DPR) is 23.31%.

Analysts Set New Price Targets

Several research firms have issued reports on FMX. JPMorgan Chase & Co. lowered 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 note on Monday, September 23rd. StockNews.com lowered Fomento Económico Mexicano from a "buy" rating to a "hold" rating in a research note on Monday, September 23rd. Finally, Barclays cut their target price on Fomento Económico Mexicano from $160.00 to $145.00 and set an "overweight" rating on the stock in a research note on Monday, July 15th. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus 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.