Wells Fargo & Company MN Has $176.69 Million Position in Fomento Economico Mexicano SAB (FMX)

Wells Fargo & Company MN cut its holdings in Fomento Economico Mexicano SAB (NYSE:FMX) by 6.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,785,280 shares of the company’s stock after selling 119,913 shares during the quarter. Wells Fargo & Company MN owned 0.50% of Fomento Economico Mexicano SAB worth $176,689,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of FMX. Vontobel Asset Management Inc. purchased a new stake in Fomento Economico Mexicano SAB during the second quarter worth $641,690,000. Fiera Capital Corp boosted its position in Fomento Economico Mexicano SAB by 373.0% during the second quarter. Fiera Capital Corp now owns 873,286 shares of the company’s stock worth $76,666,000 after purchasing an additional 688,668 shares in the last quarter. Janus Henderson Group PLC boosted its position in Fomento Economico Mexicano SAB by 28.4% during the second quarter. Janus Henderson Group PLC now owns 1,714,950 shares of the company’s stock worth $150,564,000 after purchasing an additional 379,500 shares in the last quarter. Coronation Fund Managers Ltd. boosted its position in Fomento Economico Mexicano SAB by 57.5% during the second quarter. Coronation Fund Managers Ltd. now owns 904,357 shares of the company’s stock worth $79,393,000 after purchasing an additional 330,042 shares in the last quarter. Finally, Sarasin & Partners LLP boosted its position in Fomento Economico Mexicano SAB by 742.8% during the second quarter. Sarasin & Partners LLP now owns 356,923 shares of the company’s stock worth $31,334,000 after purchasing an additional 314,574 shares in the last quarter. Hedge funds and other institutional investors own 19.85% of the company’s stock.

Shares of NYSE:FMX opened at $90.17 on Friday. The company has a current ratio of 1.63, a quick ratio of 1.34 and a debt-to-equity ratio of 0.36. Fomento Economico Mexicano SAB has a 52-week low of $80.86 and a 52-week high of $101.12. The firm has a market capitalization of $33.29 billion, a PE ratio of 14.95, a P/E/G ratio of 1.58 and a beta of 0.73.

The business also recently disclosed a special dividend, which will be paid on Friday, November 16th. Stockholders of record on Monday, November 5th will be given a $0.7352 dividend. The ex-dividend date of this dividend is Friday, November 2nd. This represents a dividend yield of 1.47%. Fomento Economico Mexicano SAB’s dividend payout ratio is currently 24.38%.

FMX has been the topic of a number of research analyst reports. ValuEngine downgraded Fomento Economico Mexicano SAB from a “buy” rating to a “hold” rating in a research report on Wednesday, October 31st. Zacks Investment Research downgraded Fomento Economico Mexicano SAB from a “hold” rating to a “sell” rating in a research report on Tuesday, October 23rd. UBS Group upgraded Fomento Economico Mexicano SAB from a “neutral” rating to a “buy” rating in a research report on Monday, October 1st. JPMorgan Chase & Co. began coverage on Fomento Economico Mexicano SAB in a research report on Monday, August 6th. They issued an “overweight” rating on the stock. Finally, Gabelli restated a “buy” rating on shares of Fomento Economico Mexicano SAB in a research report on Monday, July 30th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company. The stock has an average rating of “Buy”.

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Fomento Economico Mexicano SAB Company Profile

Fomento Económico Mexicano, SAB. de C.V., through its subsidiaries, operates as a bottler of Coca-Cola trademark beverages and a chain of small-format stores. The company produces, markets, distributes, and sells Coca-Cola trademark beverages, including sparkling beverages, such as colas and flavored sparkling beverages; and waters and still beverages comprising juice, coffee, tea, milk, value-added dairy, sports, energy, and plant-based drinks.

Further Reading: Discover Your Risk Tolerance

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

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