Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) Shares Sold by Citigroup Inc.

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

Other large investors have also made changes to their positions in the company. Manning & Napier Advisors LLC purchased a new stake in shares of Fomento Económico Mexicano in the 2nd quarter valued at $2,994,000. Klein Pavlis & Peasley Financial Inc. boosted its holdings in shares of Fomento Económico Mexicano by 29.6% in the 2nd quarter. Klein Pavlis & Peasley Financial Inc. now owns 24,105 shares of the company’s stock valued at $2,595,000 after acquiring an additional 5,505 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Fomento Económico Mexicano in the 3rd quarter valued at $7,672,000. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of Fomento Económico Mexicano by 740.2% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 472,200 shares of the company’s stock valued at $50,832,000 after acquiring an additional 416,000 shares during the last quarter. Finally, Perpetual Ltd boosted its holdings in shares of Fomento Económico Mexicano by 9.4% in the 3rd quarter. Perpetual Ltd now owns 746,826 shares of the company’s stock valued at $73,719,000 after acquiring an additional 64,291 shares during the last quarter.

Fomento Económico Mexicano Stock Performance

NYSE:FMX opened at $87.14 on Friday. 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 company has a fifty day moving average of $97.00 and a two-hundred day moving average of $105.94. The stock has a market capitalization of $31.18 billion, a PE ratio of 22.34, a P/E/G ratio of 5.07 and a beta of 0.94. Fomento Económico Mexicano, S.A.B. de C.V. has a fifty-two week low of $86.13 and a fifty-two week high of $143.43.

Fomento Económico Mexicano Cuts Dividend

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

Analyst Ratings Changes

Several research firms have recently commented on FMX. Barclays dropped their price objective on shares of Fomento Económico Mexicano from $125.00 to $118.00 and set an “overweight” rating on the stock in a report on Wednesday, October 30th. JPMorgan Chase & Co. downgraded shares of Fomento Económico Mexicano from an “overweight” rating to a “neutral” rating and increased their price target for the stock from $104.00 to $109.00 in a report on Monday, September 23rd. Finally, StockNews.com raised shares of Fomento Económico Mexicano from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $128.25.

About Fomento Económico Mexicano

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.