Sanctuary Advisors LLC Makes New Investment in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Sanctuary Advisors LLC bought a new stake in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMXFree Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 4,852 shares of the company’s stock, valued at approximately $577,000.

Several other large investors have also modified their holdings of the stock. Baillie Gifford & Co. increased its stake in Fomento Económico Mexicano by 9.0% in the 1st quarter. Baillie Gifford & Co. now owns 4,183,454 shares of the company’s stock valued at $544,979,000 after buying an additional 344,815 shares during the period. ANTIPODES PARTNERS Ltd raised its holdings in Fomento Económico Mexicano by 19.4% during the first quarter. ANTIPODES PARTNERS Ltd now owns 945,491 shares of the company’s stock worth $123,169,000 after purchasing an additional 153,771 shares in the last quarter. Black Creek Investment Management Inc. lifted its position in Fomento Económico Mexicano by 15.5% in the second quarter. Black Creek Investment Management Inc. now owns 906,798 shares of the company’s stock valued at $97,617,000 after purchasing an additional 121,800 shares during the period. LA Financiere DE L Echiquier boosted its holdings in Fomento Económico Mexicano by 22.1% in the 2nd quarter. LA Financiere DE L Echiquier now owns 776,241 shares of the company’s stock valued at $83,562,000 after purchasing an additional 140,309 shares in the last quarter. Finally, Perpetual Ltd increased its position in Fomento Económico Mexicano by 13.2% during the 1st quarter. Perpetual Ltd now owns 572,777 shares of the company’s stock worth $74,616,000 after purchasing an additional 66,717 shares during the period.

Wall Street Analyst Weigh In

FMX has been the subject of several recent analyst reports. StockNews.com raised Fomento Económico Mexicano from a “hold” rating to a “buy” rating in a report on Thursday, October 10th. Barclays reduced their target price on Fomento Económico Mexicano from $145.00 to $125.00 and set an “overweight” rating for the company in a report on Monday. Finally, JPMorgan Chase & Co. cut shares of Fomento Económico Mexicano from an “overweight” rating to a “neutral” rating and upped their price target for the stock from $104.00 to $109.00 in a research note on Monday, September 23rd. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Fomento Económico Mexicano currently has a consensus rating of “Hold” and an average price target of $129.40.

Get Our Latest Research Report on FMX

Fomento Económico Mexicano Trading Up 0.1 %

NYSE:FMX opened at $98.69 on Tuesday. Fomento Económico Mexicano, S.A.B. de C.V. has a 52-week low of $97.58 and a 52-week high of $143.43. The company has a quick ratio of 1.44, a current ratio of 1.72 and a debt-to-equity ratio of 0.36. The stock has a fifty day simple moving average of $103.76 and a 200-day simple moving average of $111.39. The company has a market capitalization of $35.31 billion, a PE ratio of 26.75, a price-to-earnings-growth ratio of 5.60 and a beta of 0.94.

Fomento Económico Mexicano (NYSE:FMXGet Free Report) last announced its earnings results on Wednesday, July 24th. The company reported $1.87 earnings per share (EPS) for the quarter. The company had revenue of $11.54 billion during the quarter. Fomento Económico Mexicano had a net margin of 3.75% and a return on equity of 8.65%. On average, equities research analysts expect that Fomento Económico Mexicano, S.A.B. de C.V. will post 5.41 earnings per share for the current fiscal year.

Fomento Económico Mexicano Cuts Dividend

The business also recently announced an annual dividend, which will be paid on Monday, October 28th. Shareholders of record on Wednesday, October 16th will be issued a dividend of $0.864 per share. This represents a yield of 0.87%. The ex-dividend date of this dividend is Wednesday, October 16th. Fomento Económico Mexicano’s dividend payout ratio (DPR) is presently 23.31%.

Fomento Económico Mexicano Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Fomento Económico Mexicano (NYSE:FMX)

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