Candriam Luxembourg S.C.A. Decreases Stock Position in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Candriam Luxembourg S.C.A. cut its position in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) by 14.4% in the 3rd quarter, Holdings Channel.com reports. The firm owned 2,984 shares of the company’s stock after selling 500 shares during the quarter. Candriam Luxembourg S.C.A.’s holdings in Fomento Económico Mexicano were worth $259,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in FMX. Arkadios Wealth Advisors boosted its stake in shares of Fomento Económico Mexicano by 137.2% in the third quarter. Arkadios Wealth Advisors now owns 306 shares of the company’s stock valued at $26,000 after purchasing an additional 177 shares during the period. Marshall Wace LLP purchased a new position in shares of Fomento Económico Mexicano in the first quarter valued at $36,000. FORA Capital LLC purchased a new position in shares of Fomento Económico Mexicano in the second quarter valued at $116,000. BNP Paribas Arbitrage SA boosted its stake in Fomento Económico Mexicano by 30.4% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 1,922 shares of the company’s stock valued at $162,000 after acquiring an additional 448 shares during the last quarter. Finally, HighTower Advisors LLC bought a new position in Fomento Económico Mexicano during the 2nd quarter valued at $202,000. Institutional investors and hedge funds own 19.90% of the company’s stock.

Fomento Económico Mexicano stock opened at $82.83 on Friday. The firm’s 50-day moving average is $75.95 and its 200-day moving average is $81.98. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.33 and a current ratio of 1.69. Fomento Económico Mexicano, S.A.B. de C.V. has a 1 year low of $67.74 and a 1 year high of $89.59. The company has a market cap of $29.64 billion, a P/E ratio of 28.37, a PEG ratio of 1.53 and a beta of 1.09.

Fomento Económico Mexicano (NYSE:FMX) last posted its quarterly earnings results on Thursday, October 28th. The company reported $1.92 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.88 by $1.04. Fomento Económico Mexicano had a net margin of 3.87% and a return on equity of 6.63%. The company had revenue of $7.12 billion for the quarter, compared to the consensus estimate of $6.79 billion. As a group, sell-side analysts predict that Fomento Económico Mexicano, S.A.B. de C.V. will post 3.43 earnings per share for the current year.

The firm also recently declared a semi-annual dividend, which was paid on Monday, November 15th. Stockholders of record on Thursday, November 4th were given a $0.5677 dividend. The ex-dividend date was Wednesday, November 3rd. This represents a dividend yield of 1.7%. Fomento Económico Mexicano’s payout ratio is currently 37.67%.

FMX has been the topic of a number of research analyst reports. Morgan Stanley upgraded shares of Fomento Económico Mexicano from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $90.00 to $92.00 in a research note on Wednesday, November 24th. Zacks Investment Research upgraded shares of Fomento Económico Mexicano from a “hold” rating to a “buy” rating and set a $88.00 price objective on the stock in a research note on Monday, October 11th. Finally, Barclays upgraded shares of Fomento Económico Mexicano from an “equal weight” rating to an “overweight” rating and set a $90.00 price objective on the stock in a research note on Monday, November 22nd. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $112.50.

Fomento Económico Mexicano Profile

Fomento Economico Mexicano SAB de CV operates as a holding company, which engages in the production, distribution, and marketing of beverages. The firm also produces, markets, sells, and distributes Coca-Cola trademark beverages, including sparkling beverages. It operates through the following segments: Coca-Cola FEMSA; FEMSA-Comercio Proximity Division; FEMSA-Comercio Health Division; FEMSA-Comercio Fuel Division; Heineken Investment; and Other Business.

Further Reading: Bear Market

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Institutional Ownership by Quarter for Fomento Económico Mexicano (NYSE:FMX)

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