abrdn plc Decreases Position in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

abrdn plc lowered its holdings in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) by 14.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,252,499 shares of the company’s stock after selling 212,196 shares during the period. abrdn plc’s holdings in Fomento Económico Mexicano were worth $106,907,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of FMX. Baillie Gifford & Co. boosted its holdings in Fomento Económico Mexicano by 10.8% in the third quarter. Baillie Gifford & Co. now owns 4,306,739 shares of the company’s stock valued at $425,118,000 after purchasing an additional 421,057 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Fomento Económico Mexicano by 267.6% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 313,602 shares of the company’s stock valued at $30,956,000 after purchasing an additional 228,284 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new position in Fomento Económico Mexicano in the third quarter valued at about $19,856,000. Perpetual Ltd boosted its holdings in Fomento Económico Mexicano by 23.8% in the fourth quarter. Perpetual Ltd now owns 924,669 shares of the company’s stock valued at $79,050,000 after purchasing an additional 177,843 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its holdings in Fomento Económico Mexicano by 107.7% in the third quarter. BNP Paribas Financial Markets now owns 326,302 shares of the company’s stock valued at $32,209,000 after purchasing an additional 169,184 shares during the last quarter. Hedge funds and other institutional investors own 61.00% of the company’s stock.

Fomento Económico Mexicano Stock Down 0.4 %

FMX opened at $84.94 on Tuesday. Fomento Económico Mexicano, S.A.B. de C.V. has a 12 month low of $81.07 and a 12 month high of $143.43. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.62 and a quick ratio of 1.32. The stock has a market cap of $30.39 billion, a P/E ratio of 21.78, a P/E/G ratio of 4.92 and a beta of 0.90. The stock’s 50 day moving average price is $86.26 and its 200 day moving average price is $96.49.

Fomento Económico Mexicano Increases Dividend

The firm also recently announced a dividend, which was paid on Friday, January 17th. Investors of record on Friday, January 17th were given a $0.9201 dividend. This is a boost from Fomento Económico Mexicano’s previous dividend of $0.74. The ex-dividend date of this dividend was Friday, January 17th. Fomento Económico Mexicano’s dividend payout ratio (DPR) is currently 11.79%.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Barclays downgraded Fomento Económico Mexicano from an “overweight” rating to an “equal weight” rating in a report on Tuesday, January 21st. The Goldman Sachs Group cut their price objective on Fomento Económico Mexicano from $109.00 to $97.80 and set a “buy” rating on the stock in a research note on Tuesday, January 28th. Finally, StockNews.com upgraded Fomento Económico Mexicano from a “hold” rating to a “buy” rating in a research note on Wednesday, November 6th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $119.20.

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.