Wells Fargo & Company MN reduced its holdings in Fomento Economico Mexicano SAB (NYSE:FMX) by 6.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,785,280 shares of the company’s stock after selling 119,913 shares during the quarter. Wells Fargo & Company MN’s holdings in Fomento Economico Mexicano SAB were worth $176,689,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the stock. NN Investment Partners Holdings N.V. increased its stake in Fomento Economico Mexicano SAB by 13.6% during the 2nd quarter. NN Investment Partners Holdings N.V. now owns 62,500 shares of the company’s stock valued at $5,487,000 after purchasing an additional 7,500 shares in the last quarter. Hartwell J M Limited Partnership boosted its holdings in shares of Fomento Economico Mexicano SAB by 14.8% during the 2nd quarter. Hartwell J M Limited Partnership now owns 5,050 shares of the company’s stock valued at $443,000 after acquiring an additional 650 shares during the last quarter. Bank of Montreal Can purchased a new stake in shares of Fomento Economico Mexicano SAB during the 2nd quarter valued at about $3,568,000. Deprince Race & Zollo Inc. boosted its holdings in shares of Fomento Economico Mexicano SAB by 111.6% during the 2nd quarter. Deprince Race & Zollo Inc. now owns 47,910 shares of the company’s stock valued at $4,206,000 after acquiring an additional 25,270 shares during the last quarter. Finally, Baltimore Capital Management Inc. purchased a new stake in shares of Fomento Economico Mexicano SAB during the 2nd quarter valued at about $1,051,000. 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. The stock has a market cap of $33.29 billion, a PE ratio of 14.95, a P/E/G ratio of 1.58 and a beta of 0.73. Fomento Economico Mexicano SAB has a 52-week low of $80.86 and a 52-week high of $101.12.

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

FMX has been the topic of a number of recent analyst reports. Zacks Investment Research raised shares of Fomento Economico Mexicano SAB from a “sell” rating to a “hold” rating in a report on Saturday, July 14th. Gabelli reaffirmed a “buy” rating on shares of Fomento Economico Mexicano SAB in a report on Monday, July 30th. JPMorgan Chase & Co. initiated coverage on shares of Fomento Economico Mexicano SAB in a report on Monday, August 6th. They set an “overweight” rating on the stock. UBS Group raised shares of Fomento Economico Mexicano SAB from a “neutral” rating to a “buy” rating in a report on Monday, October 1st. Finally, ValuEngine raised shares of Fomento Economico Mexicano SAB from a “hold” rating to a “buy” rating in a report on Thursday, October 11th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus 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: Diversification Important in Investing

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

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