Samlyn Capital LLC Decreases Holdings in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Samlyn Capital LLC trimmed its position in shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) by 10.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 777,215 shares of the company’s stock after selling 91,123 shares during the period. Fomento Económico Mexicano comprises 1.4% of Samlyn Capital LLC’s investment portfolio, making the stock its 27th largest position. Samlyn Capital LLC owned 0.22% of Fomento Económico Mexicano worth $83,667,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Bank of Montreal Can boosted its position in shares of Fomento Económico Mexicano by 2.7% during the second quarter. Bank of Montreal Can now owns 27,285 shares of the company’s stock valued at $2,984,000 after purchasing an additional 729 shares in the last quarter. Frank Rimerman Advisors LLC purchased a new position in Fomento Económico Mexicano during the second quarter valued at $489,000. Profund Advisors LLC raised its stake in Fomento Económico Mexicano by 3.2% during the second quarter. Profund Advisors LLC now owns 7,243 shares of the company’s stock valued at $780,000 after buying an additional 226 shares during the last quarter. Pacer Advisors Inc. purchased a new position in Fomento Económico Mexicano during the second quarter valued at $1,578,000. Finally, Canada Pension Plan Investment Board raised its stake in Fomento Económico Mexicano by 279.8% during the second quarter. Canada Pension Plan Investment Board now owns 146,600 shares of the company’s stock valued at $15,781,000 after buying an additional 108,000 shares during the last quarter.

Fomento Económico Mexicano Stock Performance

Shares of FMX opened at $100.33 on Tuesday. 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, S.A.B. de C.V. has a one year low of $98.97 and a one year high of $143.43. The firm has a market capitalization of $35.90 billion, a P/E ratio of 27.19, a PEG ratio of 5.75 and a beta of 0.94. The business has a fifty day moving average of $107.71 and a 200 day moving average of $114.33.

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

Fomento Económico Mexicano Increases Dividend

The business also recently declared a semi-annual dividend, which was paid on Monday, July 29th. Shareholders of record on Wednesday, July 17th were issued a dividend of $1.0206 per share. This represents a yield of 1.5%. The ex-dividend date of this dividend was Wednesday, July 17th. This is a positive change from Fomento Económico Mexicano’s previous semi-annual dividend of $0.74. Fomento Económico Mexicano’s payout ratio is currently 14.36%.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. JPMorgan Chase & Co. cut Fomento Económico Mexicano from an “overweight” rating to a “neutral” rating and lifted their price objective for the company from $104.00 to $109.00 in a research note on Monday. StockNews.com cut Fomento Económico Mexicano from a “buy” rating to a “hold” rating in a research note on Monday. Finally, Barclays decreased their price target on Fomento Económico Mexicano from $160.00 to $145.00 and set an “overweight” rating for the company in a research note on Monday, July 15th. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Fomento Económico Mexicano has an average rating of “Hold” and an average price target of $133.40.

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.