Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) Shares Purchased by Baillie Gifford & Co.

Baillie Gifford & Co. boosted its position in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) by 10.8% in the third quarter, Holdings Channel.com reports. The firm owned 4,306,739 shares of the company’s stock after acquiring an additional 421,057 shares during the quarter. Baillie Gifford & Co.’s holdings in Fomento Económico Mexicano were worth $425,118,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC purchased a new position in Fomento Económico Mexicano in the first quarter valued at about $350,000. QRG Capital Management Inc. increased its holdings in Fomento Económico Mexicano by 13.0% in the first quarter. QRG Capital Management Inc. now owns 5,774 shares of the company’s stock valued at $752,000 after buying an additional 665 shares in the last quarter. Portland Global Advisors LLC increased its holdings in Fomento Económico Mexicano by 1.4% in the first quarter. Portland Global Advisors LLC now owns 40,845 shares of the company’s stock valued at $5,321,000 after buying an additional 582 shares in the last quarter. Cumberland Partners Ltd increased its holdings in Fomento Económico Mexicano by 26.9% in the first quarter. Cumberland Partners Ltd now owns 16,500 shares of the company’s stock valued at $2,149,000 after buying an additional 3,500 shares in the last quarter. Finally, Councilmark Asset Management LLC purchased a new position in Fomento Económico Mexicano in the first quarter valued at about $1,155,000.

Wall Street Analysts Forecast Growth

FMX has been the subject of a number of research analyst reports. StockNews.com raised shares of Fomento Económico Mexicano from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. Barclays dropped their price objective on shares of Fomento Económico Mexicano from $125.00 to $118.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. Finally, JPMorgan Chase & Co. cut shares of Fomento Económico Mexicano from an “overweight” rating to a “neutral” rating and raised their price objective for the stock from $104.00 to $109.00 in a research note on Monday, September 23rd. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Fomento Económico Mexicano has an average rating of “Hold” and a consensus price target of $128.25.

Fomento Económico Mexicano Stock Down 0.7 %

Shares of NYSE FMX opened at $96.24 on Tuesday. Fomento Económico Mexicano, S.A.B. de C.V. has a 1 year low of $93.32 and a 1 year high of $143.43. The firm’s 50 day moving average price is $99.23 and its 200 day moving average price is $107.68. The firm has a market cap of $34.43 billion, a P/E ratio of 24.68, a price-to-earnings-growth ratio of 5.67 and a beta of 0.94. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.44 and a current ratio of 1.72.

Fomento Económico Mexicano Cuts Dividend

The company also recently announced an annual dividend, which was paid on Monday, October 28th. Investors of record on Wednesday, October 16th were given a dividend of $0.864 per share. The ex-dividend date was Wednesday, October 16th. This represents a yield of 0.87%. Fomento Económico Mexicano’s dividend payout ratio (DPR) is currently 12.82%.

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.