Citigroup Inc. Cuts Stock Holdings in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Citigroup Inc. lowered its stake in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) by 12.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 645,233 shares of the company’s stock after selling 92,716 shares during the quarter. Citigroup Inc. owned 0.18% of Fomento Económico Mexicano worth $63,691,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Oldfield Partners LLP increased its holdings in Fomento Económico Mexicano by 0.8% in the 2nd quarter. Oldfield Partners LLP now owns 13,300 shares of the company’s stock valued at $1,432,000 after acquiring an additional 100 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in Fomento Económico Mexicano by 8.9% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,279 shares of the company’s stock valued at $167,000 after acquiring an additional 105 shares during the last quarter. Baker Ellis Asset Management LLC increased its holdings in Fomento Económico Mexicano by 0.3% in the 2nd quarter. Baker Ellis Asset Management LLC now owns 43,446 shares of the company’s stock valued at $4,677,000 after acquiring an additional 140 shares during the last quarter. Wealth Alliance increased its holdings in Fomento Económico Mexicano by 4.4% in the 2nd quarter. Wealth Alliance now owns 3,510 shares of the company’s stock valued at $378,000 after acquiring an additional 147 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. increased its holdings in Fomento Económico Mexicano by 9.0% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 2,479 shares of the company’s stock valued at $245,000 after acquiring an additional 204 shares during the last quarter.

Fomento Económico Mexicano Trading Up 0.6 %

NYSE:FMX opened at $87.14 on Friday. Fomento Económico Mexicano, S.A.B. de C.V. has a one year low of $86.13 and a one year high of $143.43. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.44 and a current ratio of 1.72. The firm has a market cap of $31.18 billion, a P/E ratio of 22.34, a P/E/G ratio of 5.07 and a beta of 0.94. The firm has a 50-day simple moving average of $97.00 and a 200-day simple moving average of $105.94.

Fomento Económico Mexicano Cuts Dividend

The company also recently disclosed an annual dividend, which was paid on Monday, October 28th. Investors of record on Wednesday, October 16th were paid a dividend of $0.864 per share. The ex-dividend date was Wednesday, October 16th. This represents a dividend yield of 0.87%. Fomento Económico Mexicano’s dividend payout ratio (DPR) is presently 12.82%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. StockNews.com raised shares of Fomento Económico Mexicano from a “hold” rating to a “buy” rating in a research note on Wednesday, November 6th. JPMorgan Chase & Co. cut shares of Fomento Económico Mexicano from an “overweight” rating to a “neutral” rating and lifted their price target for the stock from $104.00 to $109.00 in a research note on Monday, September 23rd. Finally, Barclays dropped their price target on shares of Fomento Económico Mexicano from $125.00 to $118.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $128.25.

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.