Robeco Institutional Asset Management B.V. Decreases Stake in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Robeco Institutional Asset Management B.V. cut its stake in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX - Free Report) by 13.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 580,696 shares of the company's stock after selling 86,621 shares during the period. Robeco Institutional Asset Management B.V. owned approximately 0.16% of Fomento Económico Mexicano worth $57,321,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of FMX. Healthcare of Ontario Pension Plan Trust Fund increased its stake in Fomento Económico Mexicano by 740.2% in 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. Sustainable Growth Advisers LP increased its position in shares of Fomento Económico Mexicano by 122.8% in the first quarter. Sustainable Growth Advisers LP now owns 435,906 shares of the company's stock valued at $56,785,000 after buying an additional 240,256 shares in the last quarter. Millennium Management LLC raised its stake in shares of Fomento Económico Mexicano by 577.6% during the 2nd quarter. Millennium Management LLC now owns 222,464 shares of the company's stock worth $23,948,000 after buying an additional 189,632 shares during the last quarter. Employees Retirement System of Texas boosted its position in shares of Fomento Económico Mexicano by 64.1% in the 2nd quarter. Employees Retirement System of Texas now owns 471,096 shares of the company's stock worth $50,713,000 after buying an additional 184,000 shares in the last quarter. Finally, Zimmer Partners LP grew its stake in Fomento Económico Mexicano by 377.8% in the 1st quarter. Zimmer Partners LP now owns 215,000 shares of the company's stock valued at $28,008,000 after acquiring an additional 170,000 shares during the last quarter.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on FMX shares. Barclays cut their target price on shares of 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. JPMorgan Chase & Co. downgraded Fomento Económico Mexicano from an "overweight" rating to a "neutral" rating and lifted their price objective for the stock from $104.00 to $109.00 in a research report on Monday, September 23rd. Finally, StockNews.com cut Fomento Económico Mexicano from a "buy" rating to a "hold" rating in a report on Tuesday, October 29th. Six analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Fomento Económico Mexicano currently has a consensus rating of "Hold" and an average target price of $128.00.

Fomento Económico Mexicano Trading Down 1.3 %

Shares of FMX stock traded down $1.27 during mid-day trading on Tuesday, hitting $96.34. 433,910 shares of the company's stock were exchanged, compared to its average volume of 686,312. The stock has a market cap of $34.47 billion, a price-to-earnings ratio of 25.03, a PEG ratio of 5.47 and a beta of 0.94. The company has a quick ratio of 1.44, a current ratio of 1.72 and a debt-to-equity ratio of 0.36. Fomento Económico Mexicano, S.A.B. de C.V. has a fifty-two week low of $94.86 and a fifty-two week high of $143.43. The stock has a 50-day simple moving average of $99.94 and a two-hundred day simple moving average of $108.40.

Fomento Económico Mexicano Cuts Dividend

The firm also recently declared an annual dividend, which was paid on Monday, October 28th. Shareholders of record on Wednesday, October 16th were issued a $0.864 dividend. This represents a yield of 0.87%. The ex-dividend date of this dividend was Wednesday, October 16th. Fomento Económico Mexicano's dividend payout ratio (DPR) is 12.82%.

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.