Thrivent Financial for Lutherans Has $510,000 Stake in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Thrivent Financial for Lutherans reduced its holdings in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) by 38.3% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,742 shares of the company’s stock after selling 2,945 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Fomento Económico Mexicano were worth $510,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in FMX. Baillie Gifford & Co. grew its holdings in Fomento Económico Mexicano by 9.0% in the 1st quarter. Baillie Gifford & Co. now owns 4,183,454 shares of the company’s stock valued at $544,979,000 after buying an additional 344,815 shares during the last quarter. ANTIPODES PARTNERS Ltd grew its stake in shares of Fomento Económico Mexicano by 19.4% in the first quarter. ANTIPODES PARTNERS Ltd now owns 945,491 shares of the company’s stock worth $123,169,000 after acquiring an additional 153,771 shares during the last quarter. Black Creek Investment Management Inc. increased its position in Fomento Económico Mexicano by 15.5% during the second quarter. Black Creek Investment Management Inc. now owns 906,798 shares of the company’s stock worth $97,617,000 after acquiring an additional 121,800 shares during the period. LA Financiere DE L Echiquier raised its stake in Fomento Económico Mexicano by 22.1% during the 2nd quarter. LA Financiere DE L Echiquier now owns 776,241 shares of the company’s stock valued at $83,562,000 after purchasing an additional 140,309 shares during the last quarter. Finally, Hawk Ridge Capital Management LP bought a new stake in Fomento Económico Mexicano in the 4th quarter valued at $79,852,000.

Analyst Upgrades and Downgrades

FMX has been the topic of several research reports. Barclays dropped their price objective on shares of Fomento Económico Mexicano from $160.00 to $145.00 and set an “overweight” rating on the stock in a report on Monday, July 15th. StockNews.com lowered Fomento Económico Mexicano from a “buy” rating to a “hold” rating in a research note on Monday, September 23rd. Finally, JPMorgan Chase & Co. cut Fomento Económico Mexicano from an “overweight” rating to a “neutral” rating and upped their price target for the company from $104.00 to $109.00 in a report on Monday, September 23rd. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $133.40.

Fomento Económico Mexicano Stock Performance

NYSE FMX opened at $98.73 on Wednesday. Fomento Económico Mexicano, S.A.B. de C.V. has a twelve month low of $97.58 and a twelve 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 stock has a market cap of $35.32 billion, a P/E ratio of 26.76, a PEG ratio of 5.75 and a beta of 0.94. The company’s 50-day simple moving average is $104.79 and its 200 day simple moving average is $112.50.

Fomento Económico Mexicano (NYSE:FMX) last released its quarterly earnings data on Wednesday, July 24th. The company reported $1.87 earnings per share for the quarter. The company had revenue of $11.54 billion for the quarter. Fomento Económico Mexicano had a return on equity of 8.65% and a net margin of 3.75%. As a group, research analysts forecast that Fomento Económico Mexicano, S.A.B. de C.V. will post 5.39 earnings per share for the current fiscal year.

Fomento Económico Mexicano Cuts Dividend

The business also recently disclosed an annual dividend, which will be paid on Monday, October 28th. Shareholders of record on Wednesday, October 16th will be paid a dividend of $0.864 per share. The ex-dividend date is Wednesday, October 16th. This represents a yield of 0.87%. Fomento Económico Mexicano’s dividend payout ratio is currently 23.31%.

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.