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

SG Americas Securities LLC cut its position in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) by 8.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. 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 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of Fomento Económico Mexicano by 740.2% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 472,200 shares of the company’s stock valued at $50,832,000 after buying an additional 416,000 shares in the last quarter. Baillie Gifford & Co. boosted its holdings in shares of 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 in the last quarter. Sustainable Growth Advisers LP boosted its holdings in shares of Fomento Económico Mexicano by 122.8% in the 1st quarter. Sustainable Growth Advisers LP now owns 435,906 shares of the company’s stock valued at $56,785,000 after buying an additional 240,256 shares in the last quarter. Millennium Management LLC boosted its holdings in shares of Fomento Económico Mexicano by 577.6% in the 2nd quarter. Millennium Management LLC now owns 222,464 shares of the company’s stock valued at $23,948,000 after buying an additional 189,632 shares in the last quarter. Finally, Employees Retirement System of Texas boosted its holdings in shares of Fomento Económico Mexicano by 64.1% in the 2nd quarter. Employees Retirement System of Texas now owns 471,096 shares of the company’s stock valued at $50,713,000 after buying an additional 184,000 shares in the last quarter.

Fomento Económico Mexicano Stock Performance

Shares of FMX opened at $97.88 on Monday. The company has a 50-day simple moving average of $102.77 and a 200-day simple moving average of $110.52. 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 company has a market capitalization of $35.02 billion, a PE ratio of 26.53, a P/E/G ratio of 5.60 and a beta of 0.94. 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.

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

Fomento Económico Mexicano Cuts Dividend

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

Analyst Upgrades and Downgrades

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

About Fomento Económico Mexicano

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.