Envestnet Asset Management Inc. Reduces Stock Position in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Envestnet Asset Management Inc. lessened its position in shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) by 8.9% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 286,289 shares of the company’s stock after selling 27,937 shares during the quarter. Envestnet Asset Management Inc. owned 0.08% of Fomento Económico Mexicano worth $30,819,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Councilmark Asset Management LLC purchased a new stake in Fomento Económico Mexicano during the 1st quarter valued at about $1,155,000. Manning & Napier Advisors LLC purchased a new stake in Fomento Económico Mexicano during the 2nd quarter valued at about $2,994,000. Klein Pavlis & Peasley Financial Inc. lifted its holdings in shares of Fomento Económico Mexicano by 29.6% in the 2nd quarter. Klein Pavlis & Peasley Financial Inc. now owns 24,105 shares of the company’s stock valued at $2,595,000 after buying an additional 5,505 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Fomento Económico Mexicano by 2.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 250,394 shares of the company’s stock valued at $32,640,000 after buying an additional 5,796 shares during the period. Finally, SG Americas Securities LLC lifted its holdings in shares of Fomento Económico Mexicano by 67.3% in the 2nd quarter. SG Americas Securities LLC now owns 2,862 shares of the company’s stock valued at $308,000 after buying an additional 1,151 shares during the period.

Fomento Económico Mexicano Stock Down 2.4 %

Fomento Económico Mexicano stock opened at $99.75 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.72 and a quick ratio of 1.44. The stock has a market capitalization of $35.69 billion, a PE ratio of 27.03, a price-to-earnings-growth ratio of 5.75 and a beta of 0.94. The business has a 50 day simple moving average of $108.01 and a 200-day simple moving average of $114.58. Fomento Económico Mexicano, S.A.B. de C.V. has a 12 month low of $99.02 and a 12 month high of $143.43.

Fomento Económico Mexicano (NYSE:FMX) last released its quarterly earnings results on Wednesday, July 24th. The company reported $1.87 earnings per share (EPS) for the quarter. The firm had revenue of $11.54 billion for the quarter. Fomento Económico Mexicano had a net margin of 3.75% and a return on equity of 8.65%. On average, analysts anticipate 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 declared a semi-annual dividend, which was paid on Monday, July 29th. Investors of record on Wednesday, July 17th were given a dividend of $1.0206 per share. This represents a dividend yield of 1.5%. The ex-dividend date was Wednesday, July 17th. This is an increase from Fomento Económico Mexicano’s previous semi-annual dividend of $0.74. Fomento Económico Mexicano’s dividend payout ratio is 14.36%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on FMX. StockNews.com raised Fomento Económico Mexicano from a “hold” rating to a “buy” rating in a report on Thursday, August 29th. Barclays decreased their price objective on Fomento Económico Mexicano from $160.00 to $145.00 and set an “overweight” rating for the company in a report on Monday, July 15th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company presently has an average 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.