Aberdeen Group plc Sells 1,103,631 Shares of Fomento Economico Mexicano S.A.B. de C.V. $FMX

Aberdeen Group plc cut its stake in shares of Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) by 95.5% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 52,135 shares of the company’s stock after selling 1,103,631 shares during the period. Aberdeen Group plc’s holdings in Fomento Economico Mexicano were worth $5,179,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. Tower Research Capital LLC TRC increased its holdings in Fomento Economico Mexicano by 42.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 439 shares of the company’s stock worth $45,000 after purchasing an additional 131 shares in the last quarter. Smartleaf Asset Management LLC grew its holdings in shares of Fomento Economico Mexicano by 16.0% during the third quarter. Smartleaf Asset Management LLC now owns 1,357 shares of the company’s stock worth $135,000 after purchasing an additional 187 shares during the last quarter. Yousif Capital Management LLC increased its stake in shares of Fomento Economico Mexicano by 6.2% in the second quarter. Yousif Capital Management LLC now owns 3,437 shares of the company’s stock valued at $354,000 after buying an additional 200 shares during the period. One Wealth Advisors LLC increased its stake in shares of Fomento Economico Mexicano by 3.1% in the third quarter. One Wealth Advisors LLC now owns 7,033 shares of the company’s stock valued at $694,000 after buying an additional 209 shares during the period. Finally, Northwestern Mutual Wealth Management Co. raised its holdings in Fomento Economico Mexicano by 2,006.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 337 shares of the company’s stock valued at $35,000 after buying an additional 321 shares during the last quarter. Institutional investors and hedge funds own 61.00% of the company’s stock.

Analysts Set New Price Targets

FMX has been the topic of a number of research reports. Weiss Ratings reissued a “hold (c-)” rating on shares of Fomento Economico Mexicano in a report on Thursday, January 22nd. The Goldman Sachs Group boosted their price objective on shares of Fomento Economico Mexicano from $113.00 to $128.00 and gave the stock a “buy” rating in a research note on Wednesday, February 11th. Barclays increased their price objective on Fomento Economico Mexicano from $105.00 to $116.00 and gave the company an “equal weight” rating in a report on Tuesday, February 10th. Finally, Zacks Research raised Fomento Economico Mexicano from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 28th. Four research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, Fomento Economico Mexicano has a consensus rating of “Hold” and an average price target of $108.50.

Fomento Economico Mexicano Trading Up 1.3%

Shares of NYSE FMX opened at $113.63 on Friday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.10 and a quick ratio of 0.90. Fomento Economico Mexicano S.A.B. de C.V. has a twelve month low of $83.08 and a twelve month high of $116.09. The firm has a fifty day simple moving average of $105.48 and a 200 day simple moving average of $97.48.

Fomento Economico Mexicano Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 26th. Stockholders of record on Friday, January 16th were paid a $2.0531 dividend. The ex-dividend date of this dividend was Friday, January 16th. This represents a $8.21 dividend on an annualized basis and a dividend yield of 7.2%. This is a positive change from Fomento Economico Mexicano’s previous quarterly dividend of $2.00. Fomento Economico Mexicano’s dividend payout ratio (DPR) is presently 91.94%.

About Fomento Economico Mexicano

Fomento Económico Mexicano, SAB. de C.V. (FEMSA) is a Mexican multinational company active primarily in the retail and beverage sectors. Headquartered in Monterrey, Mexico, FEMSA’s operations span convenience store retailing, beverage bottling and distribution, and related logistics and consumer services. The company’s business model combines high-frequency retail outlets with large-scale beverage production and a regional supply chain network.

FEMSA Comercio, the company’s retail arm, operates a large chain of convenience stores under the OXXO brand and has expanded its retail footprint with complementary formats and services.