AQR Capital Management LLC Sells 22,062 Shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

AQR Capital Management LLC lessened its stake in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX - Free Report) by 51.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,567 shares of the company's stock after selling 22,062 shares during the period. AQR Capital Management LLC's holdings in Fomento Económico Mexicano were worth $2,208,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of FMX. Councilmark Asset Management LLC purchased a new stake in shares of Fomento Económico Mexicano in the first quarter worth about $1,155,000. Manning & Napier Advisors LLC acquired a new stake in shares of Fomento Económico Mexicano during the second quarter valued at about $2,994,000. Klein Pavlis & Peasley Financial Inc. raised its holdings in shares of Fomento Económico Mexicano by 29.6% in the 2nd quarter. Klein Pavlis & Peasley Financial Inc. now owns 24,105 shares of the company's stock valued at $2,595,000 after buying an additional 5,505 shares during the period. SG Americas Securities LLC boosted its position in Fomento Económico Mexicano by 67.3% in the 2nd quarter. SG Americas Securities LLC now owns 2,862 shares of the company's stock valued at $308,000 after buying an additional 1,151 shares during the period. Finally, Contravisory Investment Management Inc. acquired a new stake in Fomento Económico Mexicano in the 2nd quarter valued at about $163,000.

Fomento Económico Mexicano Stock Performance

FMX stock traded down $0.39 on Wednesday, reaching $98.34. The company's stock had a trading volume of 785,625 shares, compared to its average volume of 691,809. Fomento Económico Mexicano, S.A.B. de C.V. has a 52 week low of $97.58 and a 52 week high of $143.43. The company has a market capitalization of $35.18 billion, a P/E ratio of 26.65, a price-to-earnings-growth ratio of 5.75 and a beta of 0.94. The firm has a fifty day moving average of $104.60 and a two-hundred day moving average of $112.28. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.72 and a quick ratio of 1.44.

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

Fomento Económico Mexicano Cuts Dividend

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

Analyst Ratings Changes

Several brokerages recently commented on FMX. StockNews.com lowered shares of Fomento Económico Mexicano from a "buy" rating to a "hold" rating in a research note on Monday, September 23rd. Barclays cut their target price on Fomento Económico Mexicano from $160.00 to $145.00 and set an "overweight" rating for the company in a research note on Monday, July 15th. Finally, JPMorgan Chase & Co. lowered Fomento Económico Mexicano from an "overweight" rating to a "neutral" rating and boosted their price target for the stock from $104.00 to $109.00 in a research note on Monday, September 23rd. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Fomento Económico Mexicano currently has an average rating of "Hold" and an average target price of $133.40.

Fomento Económico Mexicano 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.