Allspring Global Investments Holdings LLC Has $109.15 Million Stock Position in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Allspring Global Investments Holdings LLC reduced its position in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) by 34.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,105,735 shares of the company’s stock after selling 591,924 shares during the period. Allspring Global Investments Holdings LLC owned about 0.31% of Fomento Económico Mexicano worth $109,147,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in FMX. Mather Group LLC. bought a new position in Fomento Económico Mexicano during the first quarter valued at approximately $34,000. Riverview Trust Co acquired a new stake in shares of Fomento Económico Mexicano in the 1st quarter valued at $187,000. Sarasin & Partners LLP boosted its holdings in Fomento Económico Mexicano by 15.6% in the first 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 in the last quarter. Deltec Asset Management LLC boosted its holdings in 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 purchasing an additional 1,300 shares in the last quarter. Finally, Claro Advisors LLC raised its holdings in Fomento Económico Mexicano by 17.4% during the first quarter. Claro Advisors LLC now owns 2,149 shares of the company’s stock valued at $280,000 after buying an additional 318 shares in the last quarter.

Fomento Económico Mexicano Stock Up 2.0 %

Shares of FMX stock opened at $97.88 on Monday. Fomento Económico Mexicano, S.A.B. de C.V. has a 12 month low of $95.84 and a 12 month 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. The firm has a market cap of $35.02 billion, a PE ratio of 26.53, a price-to-earnings-growth ratio of 5.60 and a beta of 0.94. The stock has a 50 day moving average of $102.77 and a 200-day moving average of $110.52.

Fomento Económico Mexicano (NYSE:FMX) last released its earnings results on Wednesday, July 24th. The company reported $1.87 EPS for the quarter. The firm had revenue of $11.54 billion during the quarter. Fomento Económico Mexicano had a net margin of 3.75% and a return on equity of 8.65%. On average, equities analysts predict that Fomento Económico Mexicano, S.A.B. de C.V. will post 5.41 EPS for the current year.

Fomento Económico Mexicano Cuts Dividend

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

Wall Street Analyst Weigh In

FMX has been the subject of several recent analyst reports. StockNews.com upgraded Fomento Económico Mexicano from a “hold” rating to a “buy” rating in a research note on Saturday. JPMorgan Chase & Co. downgraded Fomento Económico Mexicano from an “overweight” rating to a “neutral” rating and increased their price target for the company from $104.00 to $109.00 in a report on Monday, September 23rd. Finally, Barclays reduced their price objective on shares of Fomento Económico Mexicano from $145.00 to $125.00 and set an “overweight” rating for the company in a research note on Monday, October 14th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $129.40.

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.