Comgest Global Investors S.A.S. Sells 113,925 Shares of Fomento Economico Mexicano S.A.B. de C.V. $FMX

Comgest Global Investors S.A.S. lessened its stake in Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) by 39.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 175,517 shares of the company’s stock after selling 113,925 shares during the quarter. Comgest Global Investors S.A.S.’s holdings in Fomento Economico Mexicano were worth $17,311,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Strs Ohio increased its holdings in shares of Fomento Economico Mexicano by 8.5% in the third quarter. Strs Ohio now owns 319,300 shares of the company’s stock worth $31,493,000 after acquiring an additional 25,000 shares in the last quarter. Value Partners Investments Inc. grew its position in shares of Fomento Economico Mexicano by 43.3% in the 3rd quarter. Value Partners Investments Inc. now owns 137,109 shares of the company’s stock valued at $13,516,000 after purchasing an additional 41,400 shares during the period. LBP AM SA increased its stake in Fomento Economico Mexicano by 22.1% during the 3rd quarter. LBP AM SA now owns 518,532 shares of the company’s stock worth $51,143,000 after purchasing an additional 93,997 shares in the last quarter. Barings LLC raised its holdings in Fomento Economico Mexicano by 31.7% during the 2nd quarter. Barings LLC now owns 72,617 shares of the company’s stock worth $7,478,000 after buying an additional 17,488 shares during the period. Finally, ABS Direct Equity Fund LLC lifted its stake in Fomento Economico Mexicano by 37.6% in the third quarter. ABS Direct Equity Fund LLC now owns 90,250 shares of the company’s stock valued at $8,901,000 after buying an additional 24,650 shares in the last quarter. Institutional investors own 61.00% of the company’s stock.

Fomento Economico Mexicano Stock Down 1.9%

FMX opened at $112.42 on Thursday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.90 and a current ratio of 1.10. The business has a fifty day simple moving average of $105.10 and a 200 day simple moving average of $97.20. Fomento Economico Mexicano S.A.B. de C.V. has a 1 year low of $83.08 and a 1 year high of $116.09.

Fomento Economico Mexicano Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 26th. Investors of record on Friday, January 16th were given a dividend of $2.0531 per share. This is a positive change from Fomento Economico Mexicano’s previous quarterly dividend of $2.00. This represents a $8.21 annualized dividend and a yield of 7.3%. The ex-dividend date of this dividend was Friday, January 16th. Fomento Economico Mexicano’s dividend payout ratio (DPR) is currently 91.94%.

Wall Street Analysts Forecast Growth

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

Fomento Economico Mexicano 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.