Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) Shares Sold by Coronation Fund Managers Ltd.

Coronation Fund Managers Ltd. lowered its position in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) by 0.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 246,394 shares of the company’s stock after selling 2,249 shares during the period. Fomento Económico Mexicano comprises approximately 1.3% of Coronation Fund Managers Ltd.’s holdings, making the stock its 29th largest position. Coronation Fund Managers Ltd. owned about 0.07% of Fomento Económico Mexicano worth $24,322,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in FMX. ANTIPODES PARTNERS Ltd lifted its position in shares of Fomento Económico Mexicano by 19.4% during the 1st quarter. ANTIPODES PARTNERS Ltd now owns 945,491 shares of the company’s stock valued at $123,169,000 after acquiring an additional 153,771 shares during the period. Black Creek Investment Management Inc. lifted its position in shares of Fomento Económico Mexicano by 15.5% during the 2nd quarter. Black Creek Investment Management Inc. now owns 906,798 shares of the company’s stock valued at $97,617,000 after acquiring an additional 121,800 shares during the period. LA Financiere DE L Echiquier lifted its position in shares of Fomento Económico Mexicano by 22.1% during the 2nd quarter. LA Financiere DE L Echiquier now owns 776,241 shares of the company’s stock valued at $83,562,000 after acquiring an additional 140,309 shares during the period. Perpetual Ltd lifted its position in shares of Fomento Económico Mexicano by 9.4% during the 3rd quarter. Perpetual Ltd now owns 746,826 shares of the company’s stock valued at $73,719,000 after acquiring an additional 64,291 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of Fomento Económico Mexicano by 740.2% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 472,200 shares of the company’s stock valued at $50,832,000 after acquiring an additional 416,000 shares during the period.

Analysts Set New Price Targets

Several brokerages recently issued reports on FMX. JPMorgan Chase & Co. downgraded Fomento Económico Mexicano from an “overweight” rating to a “neutral” rating and lifted their price objective for the stock from $104.00 to $109.00 in a research report on Monday, September 23rd. StockNews.com downgraded Fomento Económico Mexicano from a “buy” rating to a “hold” rating in a research report on Tuesday, October 29th. Finally, Barclays cut their price objective on Fomento Económico Mexicano from $125.00 to $118.00 and set an “overweight” rating for the company in a research report on Wednesday. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $128.00.

Fomento Económico Mexicano Stock Down 0.2 %

FMX stock opened at $96.74 on Friday. The stock has a market capitalization of $34.61 billion, a P/E ratio of 24.81, a PEG ratio of 5.47 and a beta of 0.94. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.44 and a current ratio of 1.72. Fomento Económico Mexicano, S.A.B. de C.V. has a one year low of $94.86 and a one year high of $143.43. The company has a 50 day moving average price of $100.10 and a two-hundred day moving average price of $108.63.

Fomento Económico Mexicano Cuts Dividend

The business also recently disclosed an annual dividend, which was paid on Monday, October 28th. Stockholders of record on Wednesday, October 16th were paid a dividend of $0.864 per share. The ex-dividend date of this dividend was Wednesday, October 16th. This represents a dividend yield of 0.87%. Fomento Económico Mexicano’s dividend payout ratio is presently 12.82%.

Fomento Económico Mexicano Company Profile

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.