Aberdeen Group plc Sells 1,103,631 Shares of Fomento Economico Mexicano S.A.B. de C.V. $FMX

Aberdeen Group plc lowered its position in shares of Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) by 95.5% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 52,135 shares of the company’s stock after selling 1,103,631 shares during the quarter. Aberdeen Group plc’s holdings in Fomento Economico Mexicano were worth $5,179,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of FMX. AQR Capital Management LLC raised its stake in Fomento Economico Mexicano by 19.0% in the 1st quarter. AQR Capital Management LLC now owns 6,072 shares of the company’s stock worth $593,000 after purchasing an additional 969 shares in the last quarter. Yousif Capital Management LLC grew its position in shares of Fomento Economico Mexicano by 6.2% during the 2nd quarter. Yousif Capital Management LLC now owns 3,437 shares of the company’s stock worth $354,000 after purchasing an additional 200 shares in the last quarter. Ethic Inc. increased its holdings in shares of Fomento Economico Mexicano by 7.9% during the second quarter. Ethic Inc. now owns 12,676 shares of the company’s stock worth $1,293,000 after purchasing an additional 924 shares during the period. Envestnet Asset Management Inc. raised its position in shares of Fomento Economico Mexicano by 4.4% in the second quarter. Envestnet Asset Management Inc. now owns 277,954 shares of the company’s stock valued at $28,624,000 after buying an additional 11,668 shares in the last quarter. Finally, Solstein Capital LLC raised its position in shares of Fomento Economico Mexicano by 3.1% in the second quarter. Solstein Capital LLC now owns 29,252 shares of the company’s stock valued at $3,012,000 after buying an additional 880 shares in the last quarter. 61.00% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on FMX shares. Barclays increased their price target on Fomento Economico Mexicano from $105.00 to $116.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 10th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Fomento Economico Mexicano in a research report on Thursday, January 22nd. Zacks Research upgraded Fomento Economico Mexicano from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 28th. Finally, The Goldman Sachs Group boosted their price target on Fomento Economico Mexicano from $113.00 to $128.00 and gave the company a “buy” rating in a research note on Wednesday, February 11th. Four investment 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 currently has a consensus rating of “Hold” and a consensus target price of $108.50.

Fomento Economico Mexicano Trading Up 1.3%

Fomento Economico Mexicano stock opened at $113.63 on Friday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.10 and a quick ratio of 0.90. Fomento Economico Mexicano S.A.B. de C.V. has a 52 week low of $83.08 and a 52 week high of $116.09. The stock has a fifty day moving average of $105.48 and a 200-day moving average of $97.48.

Fomento Economico Mexicano Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, January 26th. Investors of record on Friday, January 16th were issued a dividend of $2.0531 per share. This is a boost from Fomento Economico Mexicano’s previous quarterly dividend of $2.00. The ex-dividend date of this dividend was Friday, January 16th. This represents a $8.21 annualized dividend and a dividend yield of 7.2%. Fomento Economico Mexicano’s payout ratio is presently 91.94%.

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.