Aberdeen Group plc Sells 34,697 Shares of Fomento Economico Mexicano S.A.B. de C.V. $FMX

Aberdeen Group plc cut its stake in Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) by 66.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,438 shares of the company’s stock after selling 34,697 shares during the period. Aberdeen Group plc’s holdings in Fomento Economico Mexicano were worth $1,762,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. raised its stake in shares of 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 buying an additional 321 shares during the last quarter. Tower Research Capital LLC TRC raised its stake in shares of Fomento Economico Mexicano by 42.5% during the second quarter. Tower Research Capital LLC TRC now owns 439 shares of the company’s stock worth $45,000 after buying an additional 131 shares during the last quarter. Mather Group LLC. bought a new stake in shares of Fomento Economico Mexicano during the third quarter worth approximately $54,000. Brown Brothers Harriman & Co. raised its stake in shares of Fomento Economico Mexicano by 220.8% during the third quarter. Brown Brothers Harriman & Co. now owns 725 shares of the company’s stock worth $72,000 after buying an additional 499 shares during the last quarter. Finally, Smartleaf Asset Management LLC grew its holdings in Fomento Economico Mexicano by 49.0% during the second quarter. Smartleaf Asset Management LLC now owns 1,170 shares of the company’s stock valued at $119,000 after purchasing an additional 385 shares during the period. 61.00% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. The Goldman Sachs Group boosted their price objective on shares of Fomento Economico Mexicano from $113.00 to $128.00 and gave the company a “buy” rating in a report on Wednesday, February 11th. UBS Group boosted their price objective on shares of Fomento Economico Mexicano from $109.00 to $122.00 and gave the company a “buy” rating in a report on Friday, March 20th. Weiss Ratings restated a “hold (c-)” rating on shares of Fomento Economico Mexicano in a report on Thursday, January 22nd. Finally, Barclays boosted their price objective on shares of Fomento Economico Mexicano from $116.00 to $118.00 and gave the company an “equal weight” rating in a report on Tuesday, March 3rd. Three research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, Fomento Economico Mexicano presently has a consensus rating of “Hold” and an average target price of $110.67.

Insider Buying and Selling at Fomento Economico Mexicano

In other news, Director Garza Alfonso Garza sold 52,316 shares of the company’s stock in a transaction that occurred on Monday, March 23rd. The shares were sold at an average price of $10.31, for a total value of $539,377.96. Following the completion of the transaction, the director owned 1,337,712 shares in the company, valued at $13,791,810.72. This represents a 3.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 156,948 shares of company stock valued at $1,630,690 in the last ninety days. 5.68% of the stock is owned by corporate insiders.

Fomento Economico Mexicano Stock Down 0.2%

Fomento Economico Mexicano stock opened at $115.32 on Friday. The stock has a market capitalization of $39.85 billion, a PE ratio of 40.46, a price-to-earnings-growth ratio of 0.85 and a beta of 0.40. Fomento Economico Mexicano S.A.B. de C.V. has a twelve month low of $83.08 and a twelve month high of $118.43. The company has a quick ratio of 1.02, a current ratio of 1.35 and a debt-to-equity ratio of 0.39. The company has a 50 day moving average of $110.17 and a 200-day moving average of $102.66.

Fomento Economico Mexicano (NYSE:FMX) last released its quarterly earnings results on Saturday, February 14th. The company reported $1.36 earnings per share for the quarter. The company had revenue of $12.21 billion during the quarter. Fomento Economico Mexicano had a net margin of 2.29% and a return on equity of 6.11%. On average, equities research analysts anticipate that Fomento Economico Mexicano S.A.B. de C.V. will post 5.32 EPS for the current fiscal year.

Fomento Economico Mexicano Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, May 4th. Stockholders of record on Wednesday, April 22nd will be issued a $0.6658 dividend. This represents a $2.66 annualized dividend and a dividend yield of 2.3%. The ex-dividend date is Wednesday, April 22nd. Fomento Economico Mexicano’s dividend payout ratio is 80.00%.

Fomento Economico Mexicano Company Profile

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.