First Eagle Investment Management LLC Lowers Position in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

First Eagle Investment Management LLC reduced its stake in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) by 1.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,581,339 shares of the company’s stock after selling 115,628 shares during the period. Fomento Económico Mexicano makes up approximately 2.3% of First Eagle Investment Management LLC’s portfolio, making the stock its 14th biggest position. First Eagle Investment Management LLC owned about 2.68% of Fomento Económico Mexicano worth $1,031,431,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently bought and sold shares of FMX. Park Place Capital Corp boosted its holdings in Fomento Económico Mexicano by 78.2% during the 1st quarter. Park Place Capital Corp now owns 221 shares of the company’s stock valued at $29,000 after acquiring an additional 97 shares during the period. Mather Group LLC. purchased a new stake in Fomento Económico Mexicano during the 1st quarter worth approximately $34,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in Fomento Económico Mexicano during the 2nd quarter worth approximately $51,000. Parallel Advisors LLC boosted its position in Fomento Económico Mexicano by 22.1% in the 4th quarter. Parallel Advisors LLC now owns 741 shares of the company’s stock valued at $97,000 after buying an additional 134 shares during the period. Finally, CWM LLC grew its stake in shares of Fomento Económico Mexicano by 28.7% in the second quarter. CWM LLC now owns 956 shares of the company’s stock worth $103,000 after acquiring an additional 213 shares in the last quarter.

Fomento Económico Mexicano Stock Down 1.0 %

Fomento Económico Mexicano stock opened at $102.13 on Thursday. The stock’s fifty day moving average is $108.64 and its two-hundred day moving average is $114.83. The stock has a market cap of $36.54 billion, a PE ratio of 27.68, a P/E/G ratio of 5.75 and a beta of 0.94. Fomento Económico Mexicano, S.A.B. de C.V. has a 1-year low of $99.24 and a 1-year high of $143.43. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.72 and a quick ratio of 1.44.

Fomento Económico Mexicano (NYSE:FMX) last issued its earnings results on Wednesday, July 24th. The company reported $1.87 earnings per share for the quarter. The business had revenue of $11.54 billion for the quarter. Fomento Económico Mexicano had a return on equity of 8.65% and a net margin of 3.75%. On average, sell-side analysts expect that Fomento Económico Mexicano, S.A.B. de C.V. will post 5.44 EPS for the current fiscal year.

Fomento Económico Mexicano Increases Dividend

The business also recently announced a semi-annual dividend, which was paid on Monday, July 29th. Stockholders of record on Wednesday, July 17th were issued a $1.0206 dividend. This is a boost from Fomento Económico Mexicano’s previous semi-annual dividend of $0.74. The ex-dividend date was Wednesday, July 17th. This represents a dividend yield of 1.5%. Fomento Económico Mexicano’s dividend payout ratio is presently 14.36%.

Analyst Ratings Changes

FMX has been the topic of several analyst reports. Barclays reduced their price objective on Fomento Económico Mexicano from $160.00 to $145.00 and set an “overweight” rating on the stock in a research note on Monday, July 15th. StockNews.com raised Fomento Económico Mexicano from a “hold” rating to a “buy” rating in a research report on Thursday, August 29th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $139.50.

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.