Baillie Gifford & Co. Sells 504,590 Shares of Fomento Economico Mexicano S.A.B. de C.V. $FMX

Baillie Gifford & Co. decreased its position in Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) by 11.9% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,752,745 shares of the company’s stock after selling 504,590 shares during the quarter. Baillie Gifford & Co. owned approximately 1.05% of Fomento Economico Mexicano worth $370,133,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of FMX. Northwestern Mutual Wealth Management Co. increased its position in shares of Fomento Economico Mexicano by 2,006.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 337 shares of the company’s stock valued at $35,000 after purchasing an additional 321 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in Fomento Economico Mexicano by 41.4% during the second quarter. Farther Finance Advisors LLC now owns 369 shares of the company’s stock valued at $38,000 after buying an additional 108 shares during the last quarter. Steward Partners Investment Advisory LLC purchased a new stake in Fomento Economico Mexicano during the second quarter valued at approximately $40,000. Tower Research Capital LLC TRC raised its position in Fomento Economico Mexicano by 42.5% in the second quarter. Tower Research Capital LLC TRC now owns 439 shares of the company’s stock worth $45,000 after acquiring an additional 131 shares during the period. Finally, Mather Group LLC. purchased a new position in shares of Fomento Economico Mexicano during the 3rd quarter worth $54,000. 61.00% of the stock is owned by hedge funds and other institutional investors.

Fomento Economico Mexicano Stock Performance

NYSE FMX opened at $106.80 on Friday. The company has a quick ratio of 0.90, a current ratio of 1.10 and a debt-to-equity ratio of 0.50. Fomento Economico Mexicano S.A.B. de C.V. has a twelve month low of $82.50 and a twelve month high of $108.74. The business has a 50-day moving average price of $100.61 and a 200-day moving average price of $95.64. The firm has a market cap of $37.98 billion, a price-to-earnings ratio of 43.07, a price-to-earnings-growth ratio of 4.13 and a beta of 0.46.

Fomento Economico Mexicano (NYSE:FMX) last posted its quarterly earnings results on Tuesday, October 28th. The company reported $0.88 EPS for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.18). Fomento Economico Mexicano had a return on equity of 5.01% and a net margin of 2.09%.The business had revenue of $11.72 billion during the quarter, compared to analysts’ expectations of $215.60 billion. As a group, equities research analysts predict that Fomento Economico Mexicano S.A.B. de C.V. will post 5.32 EPS for the current fiscal year.

Fomento Economico Mexicano Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, January 26th. Stockholders of record on Friday, January 16th will be issued a $2.0531 dividend. This represents a $8.21 annualized dividend and a dividend yield of 7.7%. This is a boost from Fomento Economico Mexicano’s previous quarterly dividend of $2.00. The ex-dividend date of this dividend is Friday, January 16th. Fomento Economico Mexicano’s payout ratio is presently 299.60%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on FMX shares. Barclays reduced their price objective on Fomento Economico Mexicano from $107.00 to $105.00 and set an “equal weight” rating for the company in a research note on Monday, November 3rd. Weiss Ratings restated a “hold (c-)” rating on shares of Fomento Economico Mexicano in a research report on Wednesday, October 8th. Zacks Research raised Fomento Economico Mexicano from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 28th. Finally, JPMorgan Chase & Co. boosted their price objective on Fomento Economico Mexicano from $96.00 to $102.00 and gave the company a “neutral” rating in a research note on Monday, October 20th. Four equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $101.63.

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.