Baker Ellis Asset Management LLC Sells 2,295 Shares of Fomento Economico Mexicano SAB (FMX)

Baker Ellis Asset Management LLC reduced its position in Fomento Economico Mexicano SAB (NYSE:FMX) by 4.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 45,135 shares of the company’s stock after selling 2,295 shares during the quarter. Fomento Economico Mexicano SAB makes up about 1.2% of Baker Ellis Asset Management LLC’s holdings, making the stock its 17th largest position. Baker Ellis Asset Management LLC’s holdings in Fomento Economico Mexicano SAB were worth $4,467,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Schroder Investment Management Group boosted its stake in Fomento Economico Mexicano SAB by 1,574.8% during the third quarter. Schroder Investment Management Group now owns 2,395,147 shares of the company’s stock valued at $237,048,000 after buying an additional 2,252,139 shares during the period. Sarasin & Partners LLP boosted its stake in Fomento Economico Mexicano SAB by 21.3% during the third quarter. Sarasin & Partners LLP now owns 433,053 shares of the company’s stock valued at $42,859,000 after buying an additional 76,130 shares during the period. FIL Ltd boosted its stake in Fomento Economico Mexicano SAB by 1.0% during the third quarter. FIL Ltd now owns 1,164,053 shares of the company’s stock valued at $115,207,000 after buying an additional 11,594 shares during the period. BlackRock Inc. boosted its stake in Fomento Economico Mexicano SAB by 18.6% during the third quarter. BlackRock Inc. now owns 1,389,870 shares of the company’s stock valued at $137,555,000 after buying an additional 218,327 shares during the period. Finally, Janus Henderson Group PLC boosted its stake in Fomento Economico Mexicano SAB by 41.8% during the third quarter. Janus Henderson Group PLC now owns 2,431,752 shares of the company’s stock valued at $240,751,000 after buying an additional 716,802 shares during the period. 19.84% of the stock is owned by institutional investors and hedge funds.

Shares of FMX stock opened at $87.08 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.63 and a quick ratio of 1.34. Fomento Economico Mexicano SAB has a 12-month low of $80.86 and a 12-month high of $101.12. The stock has a market cap of $31.06 billion, a price-to-earnings ratio of 14.44, a PEG ratio of 1.47 and a beta of 0.73.

Fomento Economico Mexicano SAB (NYSE:FMX) last issued its quarterly earnings results on Friday, October 26th. The company reported $0.72 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.02 by ($0.30). Fomento Economico Mexicano SAB had a return on equity of 4.59% and a net margin of 3.16%. The firm had revenue of $6.25 billion for the quarter, compared to the consensus estimate of $6.16 billion. Equities research analysts anticipate that Fomento Economico Mexicano SAB will post 3.72 earnings per share for the current fiscal year.

The company also recently declared a special dividend, which was paid on Friday, November 16th. Shareholders of record on Monday, November 5th were paid a dividend of $0.7352 per share. This represents a yield of 1.47%. The ex-dividend date of this dividend was Friday, November 2nd. Fomento Economico Mexicano SAB’s dividend payout ratio (DPR) is currently 22.55%.

Several equities research analysts have issued reports on the company. Gabelli reaffirmed a “buy” rating on shares of Fomento Economico Mexicano SAB in a research note on Monday, July 30th. UBS Group raised Fomento Economico Mexicano SAB from a “neutral” rating to a “buy” rating in a research note on Monday, October 1st. JPMorgan Chase & Co. assumed coverage on Fomento Economico Mexicano SAB in a research note on Monday, August 6th. They set an “overweight” rating for the company. Zacks Investment Research lowered Fomento Economico Mexicano SAB from a “hold” rating to a “sell” rating in a research note on Tuesday, October 23rd. Finally, ValuEngine raised Fomento Economico Mexicano SAB from a “hold” rating to a “buy” rating in a research note on Thursday, October 11th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of “Hold”.

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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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