Aberdeen Group plc Sells 209,546 Shares of Fomento Economico Mexicano S.A.B. de C.V. $FMX

Key Points

• Aberdeen Group plc reduced its stake in Fomento Economico Mexicano S.A.B. de C.V. by 16.7%, selling 209,546 shares and retaining a total of 1,042,953 shares valued at $102,491,000.
• Stock analysts have mixed sentiments towards Fomento Economico Mexicano, with UBS increasing its price target to $115 while Barclays lowered its target to $107.
• Fomento Economico Mexicano recently declared a dividend of $1.3625, increasing from a previous dividend of $0.73, reflecting a significant enhancement in shareholder returns.

Aberdeen Group plc decreased its holdings in Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX - Free Report) by 16.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,042,953 shares of the company's stock after selling 209,546 shares during the quarter. Aberdeen Group plc owned 0.29% of Fomento Economico Mexicano worth $102,491,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd purchased a new stake in Fomento Economico Mexicano in the first quarter worth about $29,000. Alpine Bank Wealth Management bought a new position in shares of Fomento Economico Mexicano during the 1st quarter valued at approximately $46,000. Banque Transatlantique SA bought a new position in shares of Fomento Economico Mexicano during the 4th quarter valued at approximately $44,000. Banque Cantonale Vaudoise purchased a new stake in Fomento Economico Mexicano in the 1st quarter worth approximately $51,000. Finally, Parallel Advisors LLC increased its holdings in Fomento Economico Mexicano by 56.2% in the 1st quarter. Parallel Advisors LLC now owns 831 shares of the company's stock worth $81,000 after acquiring an additional 299 shares in the last quarter. 61.00% of the stock is currently owned by institutional investors.

Fomento Economico Mexicano Price Performance

Shares of FMX traded up $1.7740 during mid-day trading on Wednesday, hitting $86.3140. 905,451 shares of the stock were exchanged, compared to its average volume of 1,160,319. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.06 and a current ratio of 1.34. The company has a market cap of $30.88 billion, a PE ratio of 29.36, a price-to-earnings-growth ratio of 3.99 and a beta of 0.66. Fomento Economico Mexicano S.A.B. de C.V. has a 52-week low of $81.07 and a 52-week high of $111.20. The firm has a 50-day moving average of $96.68 and a two-hundred day moving average of $98.22.

Fomento Economico Mexicano (NYSE:FMX - Get Free Report) last posted its earnings results on Monday, July 28th. The company reported $0.42 earnings per share for the quarter, missing analysts' consensus estimates of $0.91 by ($0.49). The business had revenue of $11.27 billion during the quarter, compared to analysts' expectations of $216.71 billion. Fomento Economico Mexicano had a net margin of 2.60% and a return on equity of 5.32%. On average, equities analysts predict that Fomento Economico Mexicano S.A.B. de C.V. will post 5.32 earnings per share for the current year.

Fomento Economico Mexicano Increases Dividend

The business also recently disclosed a -- dividend, which was paid on Monday, July 28th. Shareholders of record on Thursday, July 17th were paid a dividend of $1.3625 per share. The ex-dividend date of this dividend was Thursday, July 17th. This is an increase from Fomento Economico Mexicano's previous -- dividend of $0.73. This represents a yield of 200.0%. Fomento Economico Mexicano's payout ratio is presently 74.83%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on FMX shares. Barclays lowered their price target on shares of Fomento Economico Mexicano from $110.00 to $107.00 and set an "equal weight" rating on the stock in a report on Thursday, July 31st. Morgan Stanley restated an "equal weight" rating and set a $97.00 target price (down previously from $132.00) on shares of Fomento Economico Mexicano in a research note on Tuesday. Wall Street Zen lowered Fomento Economico Mexicano from a "buy" rating to a "hold" rating in a research note on Wednesday, April 30th. Finally, UBS Group raised their price target on Fomento Economico Mexicano from $112.00 to $115.00 and gave the company a "neutral" rating in a report on Thursday, July 10th. Two analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $105.16.

Fomento Economico Mexicano Company 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.