SG Americas Securities LLC lessened its holdings in shares of Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) by 26.9% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 8,622 shares of the company’s stock after selling 3,171 shares during the quarter. SG Americas Securities LLC’s holdings in Fomento Economico Mexicano were worth $824,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also bought and sold shares of the company. Harding Loevner LP grew its position in Fomento Economico Mexicano by 27.6% in the second quarter. Harding Loevner LP now owns 999,846 shares of the company’s stock valued at $98,325,000 after acquiring an additional 216,540 shares in the last quarter. Gluskin Sheff & Assoc Inc. grew its position in Fomento Economico Mexicano by 2.9% in the third quarter. Gluskin Sheff & Assoc Inc. now owns 88,580 shares of the company’s stock valued at $8,462,000 after acquiring an additional 2,480 shares in the last quarter. BT Investment Management Ltd acquired a new stake in Fomento Economico Mexicano in the second quarter valued at approximately $7,306,000. Vanguard Group Inc. grew its position in Fomento Economico Mexicano by 13.3% in the first quarter. Vanguard Group Inc. now owns 156,624 shares of the company’s stock valued at $13,864,000 after acquiring an additional 18,433 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D grew its position in Fomento Economico Mexicano by 4.9% in the third quarter. State of New Jersey Common Pension Fund D now owns 181,622 shares of the company’s stock valued at $17,351,000 after acquiring an additional 8,452 shares in the last quarter. 26.06% of the stock is owned by hedge funds and other institutional investors.
Several research firms have recently commented on FMX. Zacks Investment Research cut Fomento Economico Mexicano from a “buy” rating to a “hold” rating in a research note on Wednesday, August 16th. J P Morgan Chase & Co upgraded Fomento Economico Mexicano from a “neutral” rating to an “overweight” rating and increased their target price for the company from $98.00 to $117.00 in a research note on Monday, October 2nd. Barclays reduced their target price on Fomento Economico Mexicano from $115.00 to $114.00 and set an “overweight” rating for the company in a research note on Wednesday, October 11th. Finally, BidaskClub upgraded Fomento Economico Mexicano from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, August 22nd. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $114.40.
The company also recently disclosed a semiannual dividend, which was paid on Monday, November 13th. Investors of record on Monday, November 6th were paid a dividend of $0.6759 per share. This represents a yield of 1.52%. The ex-dividend date was Friday, November 3rd. Fomento Economico Mexicano’s dividend payout ratio (DPR) is presently 19.51%.
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About Fomento Economico Mexicano
Fomento Economico Mexicano, SAB. de C.V. (FEMSA) is a holding company. The Company’s segments are Coca-Cola FEMSA, FEMSA Comercio-Retail Division and FEMSA Comercio-Fuel Division. The Company conducts its operations through holding companies, such as Coca-Cola FEMSA, SAB. de C.V. and subsidiaries (Coca-Cola FEMSA), which produces, distributes and sells beverages; FEMSA Comercio, SA de C.V.
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