Duff & Phelps Investment Management Co. Sells 1,473 Shares of Fomento Economico Mexicano SAB (FMX)

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Duff & Phelps Investment Management Co. reduced its stake in Fomento Economico Mexicano SAB (NYSE:FMX) by 1.3% in the 3rd quarter, HoldingsChannel reports. The firm owned 113,306 shares of the company’s stock after selling 1,473 shares during the quarter. Duff & Phelps Investment Management Co.’s holdings in Fomento Economico Mexicano SAB were worth $11,214,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Engineers Gate Manager LP purchased a new position in Fomento Economico Mexicano SAB in the 2nd quarter valued at about $202,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Fomento Economico Mexicano SAB in the 2nd quarter valued at about $255,000. Advisors Asset Management Inc. boosted its position in Fomento Economico Mexicano SAB by 18.2% in the 2nd quarter. Advisors Asset Management Inc. now owns 4,168 shares of the company’s stock valued at $366,000 after buying an additional 643 shares during the last quarter. Stevens Capital Management LP purchased a new position in Fomento Economico Mexicano SAB in the 2nd quarter valued at about $393,000. Finally, Hartwell J M Limited Partnership boosted its position in Fomento Economico Mexicano SAB by 14.8% in the 2nd quarter. Hartwell J M Limited Partnership now owns 5,050 shares of the company’s stock valued at $443,000 after buying an additional 650 shares during the last quarter. Hedge funds and other institutional investors own 19.85% of the company’s stock.

Shares of FMX stock opened at $92.64 on Tuesday. The company has a current ratio of 1.49, a quick ratio of 1.17 and a debt-to-equity ratio of 0.37. Fomento Economico Mexicano SAB has a one year low of $80.86 and a one year high of $101.12. The stock has a market cap of $34.18 billion, a PE ratio of 15.36, a P/E/G ratio of 1.62 and a beta of 0.52.

Fomento Economico Mexicano SAB (NYSE:FMX) last issued its quarterly earnings results on Friday, July 27th. The company reported $1.25 EPS for the quarter, topping the consensus estimate of $0.98 by $0.27. Fomento Economico Mexicano SAB had a net margin of 9.31% and a return on equity of 13.91%. The business had revenue of $6.45 billion for the quarter, compared to analysts’ expectations of $6.36 billion. As a group, analysts anticipate that Fomento Economico Mexicano SAB will post 3.73 EPS for the current year.

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 given a dividend of $0.7352 per share. The ex-dividend date is Friday, November 2nd. This represents a dividend yield of 1.47%. Fomento Economico Mexicano SAB’s payout ratio is 23.55%.

A number of equities analysts have weighed in on FMX shares. Zacks Investment Research raised shares of Fomento Economico Mexicano SAB from a “sell” rating to a “hold” rating in a research report on Saturday, July 14th. ValuEngine raised shares of Fomento Economico Mexicano SAB from a “hold” rating to a “buy” rating in a research report on Thursday, October 11th. Gabelli reissued a “buy” rating on shares of Fomento Economico Mexicano SAB in a research report on Monday, July 30th. UBS Group raised shares of Fomento Economico Mexicano SAB from a “neutral” rating to a “buy” rating in a research report on Monday, October 1st. Finally, JPMorgan Chase & Co. initiated coverage on shares of Fomento Economico Mexicano SAB in a research report on Monday, August 6th. They set an “overweight” rating on the stock. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company has a consensus rating of “Buy”.

Fomento Economico Mexicano SAB 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.

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

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