abrdn plc Has $315.56 Million Position in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

abrdn plc lowered its stake in shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) by 11.6% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 2,420,859 shares of the company’s stock after selling 318,364 shares during the quarter. Fomento Económico Mexicano accounts for about 0.7% of abrdn plc’s investment portfolio, making the stock its 22nd largest holding. abrdn plc’s holdings in Fomento Económico Mexicano were worth $315,559,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the stock. Advisory Services Network LLC grew its position in Fomento Económico Mexicano by 44.3% during the first quarter. Advisory Services Network LLC now owns 342 shares of the company’s stock worth $33,000 after buying an additional 105 shares in the last quarter. Blue Trust Inc. grew its position in Fomento Económico Mexicano by 4.0% during the fourth quarter. Blue Trust Inc. now owns 2,855 shares of the company’s stock worth $372,000 after buying an additional 109 shares in the last quarter. River Road Asset Management LLC grew its position in Fomento Económico Mexicano by 5.3% during the third quarter. River Road Asset Management LLC now owns 2,305 shares of the company’s stock worth $252,000 after buying an additional 115 shares in the last quarter. First Horizon Advisors Inc. lifted its stake in Fomento Económico Mexicano by 14.3% during the first quarter. First Horizon Advisors Inc. now owns 1,052 shares of the company’s stock worth $100,000 after purchasing an additional 132 shares during the last quarter. Finally, Kestra Advisory Services LLC lifted its stake in Fomento Económico Mexicano by 6.0% during the third quarter. Kestra Advisory Services LLC now owns 2,495 shares of the company’s stock worth $272,000 after purchasing an additional 142 shares during the last quarter.

Analyst Ratings Changes

Several research firms have weighed in on FMX. HSBC upgraded Fomento Económico Mexicano from a “hold” rating to a “buy” rating and upped their target price for the stock from $124.00 to $152.00 in a research note on Friday, February 9th. UBS Group cut Fomento Económico Mexicano from a “buy” rating to a “neutral” rating in a research note on Friday, January 12th. StockNews.com cut Fomento Económico Mexicano from a “buy” rating to a “hold” rating in a research note on Monday, February 26th. Finally, Bank of America restated a “neutral” rating on shares of Fomento Económico Mexicano in a research note on Monday, February 26th. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $135.75.

Fomento Económico Mexicano Price Performance

Shares of FMX traded up $0.62 during trading hours on Friday, reaching $119.69. The stock had a trading volume of 2,534,759 shares, compared to its average volume of 527,122. Fomento Económico Mexicano, S.A.B. de C.V. has a 12 month low of $91.71 and a 12 month high of $143.43. The company has a quick ratio of 1.60, a current ratio of 1.91 and a debt-to-equity ratio of 0.33. The company’s 50-day moving average is $127.25 and its two-hundred day moving average is $125.02.

Fomento Económico Mexicano (NYSE:FMX) last announced its quarterly earnings results on Friday, February 23rd. The company reported $1.07 EPS for the quarter. Fomento Económico Mexicano had a return on equity of 9.63% and a net margin of 8.53%. The company had revenue of $11.23 billion during the quarter, compared to analysts’ expectations of $11.21 billion. As a group, analysts forecast that Fomento Económico Mexicano, S.A.B. de C.V. will post 5.7 EPS for the current fiscal year.

Fomento Económico Mexicano Increases Dividend

The company also recently declared an annual dividend, which will be paid on Monday, April 29th. Stockholders of record on Wednesday, April 17th will be paid a $1.115 dividend. This represents a dividend yield of 0.87%. This is a boost from Fomento Económico Mexicano’s previous annual dividend of $0.74. The ex-dividend date of this dividend is Tuesday, April 16th. Fomento Económico Mexicano’s dividend payout ratio is presently 6.11%.

Fomento Económico Mexicano 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.