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

abrdn plc decreased its position in shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX - Free Report) by 10.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,464,695 shares of the company's stock after selling 180,034 shares during the quarter. abrdn plc owned approximately 0.41% of Fomento Económico Mexicano worth $144,675,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Park Place Capital Corp boosted its stake in Fomento Económico Mexicano by 78.2% during the first quarter. Park Place Capital Corp now owns 221 shares of the company's stock worth $29,000 after buying an additional 97 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in Fomento Económico Mexicano during the second quarter worth approximately $51,000. CWM LLC lifted its position 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 acquiring an additional 213 shares during the last quarter. Contravisory Investment Management Inc. acquired a new stake in shares of Fomento Económico Mexicano in the 2nd quarter valued at about $163,000. Finally, EverSource Wealth Advisors LLC raised its position in Fomento Económico Mexicano by 8.9% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,279 shares of the company's stock valued at $167,000 after purchasing an additional 105 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on FMX. JPMorgan Chase & Co. cut Fomento Económico Mexicano from an "overweight" rating to a "neutral" rating and increased their price objective for the stock from $104.00 to $109.00 in a research report on Monday, September 23rd. StockNews.com upgraded shares of Fomento Económico Mexicano from a "hold" rating to a "buy" rating in a research report on Saturday, October 19th. Finally, Barclays decreased their price objective on shares of Fomento Económico Mexicano from $145.00 to $125.00 and set an "overweight" rating on the stock in a research report on Monday, October 14th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $129.40.

Fomento Económico Mexicano Trading Down 1.6 %

Shares of Fomento Económico Mexicano stock traded down $1.58 during trading hours on Tuesday, reaching $96.80. 595,113 shares of the company's stock were exchanged, compared to its average volume of 685,204. The company has a fifty day moving average of $101.02 and a 200-day moving average of $109.25. Fomento Económico Mexicano, S.A.B. de C.V. has a 52-week low of $95.84 and a 52-week high of $143.43. The firm has a market capitalization of $34.63 billion, a price-to-earnings ratio of 26.96, a price-to-earnings-growth ratio of 5.59 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 Cuts Dividend

The business also recently disclosed an annual dividend, which was paid on Monday, October 28th. Stockholders of record on Wednesday, October 16th were issued 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 payout ratio is currently 13.55%.

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.