Fomento Economico Mexicano S.A.B. de C.V. $FMX Stock Position Cut by Comgest Global Investors S.A.S.

Comgest Global Investors S.A.S. decreased its stake in shares of Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) by 39.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 175,517 shares of the company’s stock after selling 113,925 shares during the period. Comgest Global Investors S.A.S.’s holdings in Fomento Economico Mexicano were worth $17,311,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Northwestern Mutual Wealth Management Co. raised its holdings in Fomento Economico Mexicano by 2,006.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 337 shares of the company’s stock worth $35,000 after purchasing an additional 321 shares in the last quarter. Steward Partners Investment Advisory LLC bought a new stake in shares of Fomento Economico Mexicano in the 2nd quarter worth $40,000. Tower Research Capital LLC TRC lifted its holdings in shares of Fomento Economico Mexicano by 42.5% in the second quarter. Tower Research Capital LLC TRC now owns 439 shares of the company’s stock valued at $45,000 after buying an additional 131 shares during the period. Mather Group LLC. bought a new position in Fomento Economico Mexicano during the third quarter valued at about $54,000. Finally, MAI Capital Management raised its holdings in shares of Fomento Economico Mexicano by 131.1% in the 2nd quarter. MAI Capital Management now owns 788 shares of the company’s stock worth $81,000 after purchasing an additional 447 shares in the last quarter. 61.00% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on FMX. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Fomento Economico Mexicano in a report on Thursday, January 22nd. Zacks Research raised shares of Fomento Economico Mexicano from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 28th. The Goldman Sachs Group lifted their target price on shares of Fomento Economico Mexicano from $113.00 to $128.00 and gave the stock a “buy” rating in a research report on Wednesday, February 11th. Finally, Barclays upped their price target on shares of Fomento Economico Mexicano from $105.00 to $116.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 10th. Four analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $108.50.

Fomento Economico Mexicano Price Performance

Shares of Fomento Economico Mexicano stock opened at $112.42 on Thursday. Fomento Economico Mexicano S.A.B. de C.V. has a twelve month low of $83.08 and a twelve month high of $116.09. The company has a current ratio of 1.10, a quick ratio of 0.90 and a debt-to-equity ratio of 0.50. The firm’s 50-day simple moving average is $105.10 and its 200-day simple moving average is $97.20.

Fomento Economico Mexicano Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, January 26th. Shareholders of record on Friday, January 16th were given a dividend of $2.0531 per share. This represents a $8.21 dividend on an annualized basis and a yield of 7.3%. The ex-dividend date was Friday, January 16th. This is a boost from Fomento Economico Mexicano’s previous quarterly dividend of $2.00. Fomento Economico Mexicano’s dividend payout ratio is currently 91.94%.

About Fomento Economico Mexicano

Fomento Económico Mexicano, SAB. de C.V. (FEMSA) is a Mexican multinational company active primarily in the retail and beverage sectors. Headquartered in Monterrey, Mexico, FEMSA’s operations span convenience store retailing, beverage bottling and distribution, and related logistics and consumer services. The company’s business model combines high-frequency retail outlets with large-scale beverage production and a regional supply chain network.

FEMSA Comercio, the company’s retail arm, operates a large chain of convenience stores under the OXXO brand and has expanded its retail footprint with complementary formats and services.