Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) Shares Sold by Comgest Global Investors S.A.S.

Comgest Global Investors S.A.S. lowered its holdings in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) by 5.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 534,403 shares of the company’s stock after selling 33,125 shares during the period. Fomento Económico Mexicano comprises 0.8% of Comgest Global Investors S.A.S.’s holdings, making the stock its 22nd biggest holding. Comgest Global Investors S.A.S.’s holdings in Fomento Económico Mexicano were worth $52,751,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. Janney Montgomery Scott LLC acquired a new position in shares of Fomento Económico Mexicano in the first quarter worth about $350,000. O Shaughnessy Asset Management LLC boosted its holdings in shares of Fomento Económico Mexicano by 4.1% in the first quarter. O Shaughnessy Asset Management LLC now owns 44,174 shares of the company’s stock worth $5,755,000 after buying an additional 1,759 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Fomento Económico Mexicano in the first quarter worth about $7,321,000. Dynasty Wealth Management LLC acquired a new position in shares of Fomento Económico Mexicano in the first quarter worth about $1,059,000. Finally, Zimmer Partners LP boosted its holdings in shares of Fomento Económico Mexicano by 377.8% in the first quarter. Zimmer Partners LP now owns 215,000 shares of the company’s stock worth $28,008,000 after buying an additional 170,000 shares during the period.

Wall Street Analysts Forecast Growth

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

Fomento Económico Mexicano Stock Down 1.2 %

FMX traded down $1.08 during midday trading on Friday, hitting $90.08. 460,568 shares of the company’s stock traded hands, compared to its average volume of 681,823. The company has a market cap of $32.23 billion, a PE ratio of 23.10, a price-to-earnings-growth ratio of 5.43 and a beta of 0.94. The stock’s fifty day simple moving average is $98.42 and its 200-day simple moving average is $107.09. 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, S.A.B. de C.V. has a one year low of $90.00 and a one year high of $143.43.

Fomento Económico Mexicano Cuts Dividend

The firm also recently disclosed 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. This represents a yield of 0.87%. The ex-dividend date was Wednesday, October 16th. Fomento Económico Mexicano’s payout ratio is presently 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.