Sarasin & Partners LLP Reduces Stock Position in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Sarasin & Partners LLP trimmed its stake in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX - Free Report) by 77.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,000 shares of the company's stock after selling 51,077 shares during the period. Sarasin & Partners LLP's holdings in Fomento Económico Mexicano were worth $1,481,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of FMX. Hawk Ridge Capital Management LP bought a new stake in Fomento Económico Mexicano during the 4th quarter valued at $79,852,000. Healthcare of Ontario Pension Plan Trust Fund raised its position in 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 valued at $50,832,000 after purchasing an additional 416,000 shares in the last quarter. Baillie Gifford & Co. raised its position in Fomento Económico Mexicano by 9.0% during the 1st quarter. Baillie Gifford & Co. now owns 4,183,454 shares of the company's stock valued at $544,979,000 after purchasing an additional 344,815 shares in the last quarter. Sustainable Growth Advisers LP raised its position in Fomento Económico Mexicano by 122.8% during the 1st quarter. Sustainable Growth Advisers LP now owns 435,906 shares of the company's stock valued at $56,785,000 after purchasing an additional 240,256 shares in the last quarter. Finally, Millennium Management LLC increased its holdings in shares of Fomento Económico Mexicano by 577.6% in the 2nd quarter. Millennium Management LLC now owns 222,464 shares of the company's stock valued at $23,948,000 after acquiring an additional 189,632 shares during the period.

Fomento Económico Mexicano Stock Performance

Shares of FMX stock traded up $0.17 on Friday, hitting $98.59. The company had a trading volume of 268,415 shares, compared to its average volume of 687,527. The firm has a market cap of $35.27 billion, a P/E ratio of 26.76, a price-to-earnings-growth ratio of 5.60 and a beta of 0.94. Fomento Económico Mexicano, S.A.B. de C.V. has a twelve month low of $97.58 and a twelve month high of $143.43. 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 company has a 50-day moving average price of $104.13 and a 200-day moving average price of $112.09.

Fomento Económico Mexicano (NYSE:FMX - Get Free Report) last released its quarterly earnings results on Wednesday, July 24th. The company reported $1.87 earnings per share for the quarter. The company had revenue of $11.54 billion during the quarter. Fomento Económico Mexicano had a return on equity of 8.65% and a net margin of 3.75%. As a group, equities research analysts predict that Fomento Económico Mexicano, S.A.B. de C.V. will post 5.41 earnings per share for the current fiscal year.

Fomento Económico Mexicano Cuts Dividend

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

Wall Street Analysts Forecast Growth

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

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.