SG Americas Securities LLC Reduces Holdings in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

SG Americas Securities LLC reduced its holdings in shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) by 8.7% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 2,613 shares of the company’s stock after selling 249 shares during the period. SG Americas Securities LLC’s holdings in Fomento Económico Mexicano were worth $258,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in FMX. Mather Group LLC. acquired a new stake in shares of Fomento Económico Mexicano during the 1st quarter worth about $34,000. Riverview Trust Co acquired a new stake in shares of Fomento Económico Mexicano during the 1st quarter worth about $187,000. Sarasin & Partners LLP boosted its stake in shares of Fomento Económico Mexicano by 15.6% during the 1st quarter. Sarasin & Partners LLP now owns 185,353 shares of the company’s stock worth $24,146,000 after purchasing an additional 25,000 shares during the last quarter. Deltec Asset Management LLC boosted its position in shares of Fomento Económico Mexicano by 10.4% in the first quarter. Deltec Asset Management LLC now owns 13,750 shares of the company’s stock worth $1,791,000 after acquiring an additional 1,300 shares during the last quarter. Finally, Claro Advisors LLC boosted its position in shares of Fomento Económico Mexicano by 17.4% in the first quarter. Claro Advisors LLC now owns 2,149 shares of the company’s stock worth $280,000 after acquiring an additional 318 shares during the last quarter.

Fomento Económico Mexicano Trading Up 2.0 %

FMX opened at $97.88 on Monday. The firm has a market capitalization of $35.02 billion, a P/E ratio of 26.53, a P/E/G ratio of 5.60 and a beta of 0.94. The firm’s 50 day moving average is $102.77 and its 200-day moving average is $110.52. Fomento Económico Mexicano, S.A.B. de C.V. has a 52-week low of $95.84 and a 52-week high of $143.43. The company has a quick ratio of 1.44, a current ratio of 1.72 and a debt-to-equity ratio of 0.36.

Fomento Económico Mexicano (NYSE:FMX) last posted its quarterly earnings data on Wednesday, July 24th. The company reported $1.87 earnings per share (EPS) for the quarter. The company 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%. Analysts expect that Fomento Económico Mexicano, S.A.B. de C.V. will post 5.41 EPS for the current fiscal year.

Fomento Económico Mexicano Cuts Dividend

The business also recently declared an annual dividend, which will be paid on Monday, October 28th. Investors of record on Wednesday, October 16th will be paid a $0.864 dividend. The ex-dividend date is Wednesday, October 16th. This represents a dividend yield of 0.87%. Fomento Económico Mexicano’s dividend payout ratio (DPR) is presently 23.31%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on FMX shares. Barclays decreased their target price on shares of Fomento Económico Mexicano from $145.00 to $125.00 and set an “overweight” rating on the stock in a research report on Monday, October 14th. JPMorgan Chase & Co. cut shares of Fomento Económico Mexicano from an “overweight” rating to a “neutral” rating and lifted their price target for the company from $104.00 to $109.00 in a research report on Monday, September 23rd. Finally, StockNews.com raised shares of Fomento Económico Mexicano from a “hold” rating to a “buy” rating in a research report on Saturday. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Fomento Económico Mexicano currently has an average rating of “Hold” and an average price target of $129.40.

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.