Comgest Global Investors S.A.S. Reduces Stock Position in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Comgest Global Investors S.A.S. cut its holdings in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) by 32.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 567,528 shares of the company’s stock after selling 268,245 shares during the quarter. Fomento Económico Mexicano makes up approximately 0.8% of Comgest Global Investors S.A.S.’s holdings, making the stock its 22nd largest holding. Comgest Global Investors S.A.S. owned about 0.16% of Fomento Económico Mexicano worth $61,094,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of FMX. EverSource Wealth Advisors LLC boosted its position in shares of Fomento Económico Mexicano by 6.5% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,174 shares of the company’s stock valued at $153,000 after purchasing an additional 72 shares in the last quarter. Park Place Capital Corp increased its stake in shares of Fomento Económico Mexicano by 78.2% in the 1st quarter. Park Place Capital Corp now owns 221 shares of the company’s stock worth $29,000 after acquiring an additional 97 shares in the last quarter. Van ECK Associates Corp lifted its position in Fomento Económico Mexicano by 48.6% during the 4th quarter. Van ECK Associates Corp now owns 318 shares of the company’s stock valued at $41,000 after acquiring an additional 104 shares during the period. Solstein Capital LLC boosted its stake in Fomento Económico Mexicano by 0.4% during the first quarter. Solstein Capital LLC now owns 28,372 shares of the company’s stock worth $3,696,000 after acquiring an additional 118 shares in the last quarter. Finally, Parallel Advisors LLC grew its holdings in Fomento Económico Mexicano by 22.1% in the fourth quarter. Parallel Advisors LLC now owns 741 shares of the company’s stock worth $97,000 after purchasing an additional 134 shares during the period.

Fomento Económico Mexicano Stock Performance

FMX stock opened at $102.78 on Tuesday. The stock’s 50 day simple moving average is $110.09 and its 200 day simple moving average is $116.84. 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, S.A.B. de C.V. has a 12-month low of $99.24 and a 12-month high of $143.43. The stock has a market capitalization of $36.77 billion, a PE ratio of 27.85, a price-to-earnings-growth ratio of 4.01 and a beta of 0.94.

Fomento Económico Mexicano (NYSE:FMX) last released its quarterly earnings data on Wednesday, July 24th. The company reported $1.87 EPS for the quarter. The company had revenue of $11.54 billion for the quarter. Fomento Económico Mexicano had a return on equity of 8.65% and a net margin of 3.75%. As a group, research analysts forecast that Fomento Económico Mexicano, S.A.B. de C.V. will post 5.12 earnings per share for the current fiscal year.

Fomento Económico Mexicano Increases Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Monday, July 29th. Investors of record on Wednesday, July 17th were given a dividend of $1.0206 per share. This is an increase from Fomento Económico Mexicano’s previous semi-annual dividend of $0.74. The ex-dividend date was Wednesday, July 17th. This represents a yield of 1.5%. Fomento Económico Mexicano’s dividend payout ratio is 14.36%.

Analyst Ratings Changes

FMX has been the topic of a number of analyst reports. Barclays dropped their price target on Fomento Económico Mexicano from $160.00 to $145.00 and set an “overweight” rating on the stock in a research report on Monday, July 15th. StockNews.com raised Fomento Económico Mexicano from a “hold” rating to a “buy” rating in a research note on Thursday, August 29th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $139.50.

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.