Comerica Bank Has $4.99 Million Stake in Fomento Economico Mexicano S.A.B. de C.V. (FMX)

Comerica Bank trimmed its stake in Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) by 4.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 56,500 shares of the company’s stock after selling 2,545 shares during the period. Comerica Bank’s holdings in Fomento Economico Mexicano S.A.B. de C.V. were worth $4,991,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. FIL Ltd grew its position in shares of Fomento Economico Mexicano S.A.B. de C.V. by 0.7% in the 2nd quarter. FIL Ltd now owns 2,363,219 shares of the company’s stock valued at $232,399,000 after buying an additional 17,075 shares during the last quarter. Artisan Partners Limited Partnership grew its position in shares of Fomento Economico Mexicano S.A.B. de C.V. by 5.8% in the 2nd quarter. Artisan Partners Limited Partnership now owns 1,481,355 shares of the company’s stock valued at $145,676,000 after buying an additional 81,309 shares during the last quarter. Schroder Investment Management Group grew its position in shares of Fomento Economico Mexicano S.A.B. de C.V. by 5.1% in the 2nd quarter. Schroder Investment Management Group now owns 1,474,603 shares of the company’s stock valued at $142,829,000 after buying an additional 71,604 shares during the last quarter. BlackRock Inc. purchased a new position in shares of Fomento Economico Mexicano S.A.B. de C.V. in the 1st quarter valued at $118,653,000. Finally, William Blair Investment Management LLC grew its position in shares of Fomento Economico Mexicano S.A.B. de C.V. by 55.1% in the 2nd quarter. William Blair Investment Management LLC now owns 1,087,301 shares of the company’s stock valued at $106,925,000 after buying an additional 386,233 shares during the last quarter. 21.58% of the stock is currently owned by hedge funds and other institutional investors.

A number of research analysts recently commented on the stock. Zacks Investment Research downgraded shares of Fomento Economico Mexicano S.A.B. de C.V. from a “buy” rating to a “hold” rating in a research report on Wednesday, August 16th. BidaskClub raised shares of Fomento Economico Mexicano S.A.B. de C.V. from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, August 22nd. Finally, Morgan Stanley assumed coverage on shares of Fomento Economico Mexicano S.A.B. de C.V. in a research report on Thursday, September 14th. They issued an “overweight” rating and a $120.00 target price on the stock. Two analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Fomento Economico Mexicano S.A.B. de C.V. presently has an average rating of “Buy” and an average price target of $114.40.

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Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) opened at $90.06 on Thursday. Fomento Economico Mexicano S.A.B. de C.V. has a 52-week low of $73.45 and a 52-week high of $103.82. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.55 and a current ratio of 1.88. The stock has a market cap of $31,792.54, a price-to-earnings ratio of 12.50, a price-to-earnings-growth ratio of 1.76 and a beta of 0.52.

The firm also recently disclosed a semiannual dividend, which was paid on Monday, November 13th. Shareholders of record on Monday, November 6th were given a dividend of $0.6759 per share. This represents a yield of 1.52%. The ex-dividend date was Friday, November 3rd. Fomento Economico Mexicano S.A.B. de C.V.’s payout ratio is currently 18.99%.

About Fomento Economico Mexicano S.A.B. de C.V.

Fomento Economico Mexicano, SAB. de C.V. (FEMSA) is a holding company. The Company’s segments are Coca-Cola FEMSA, FEMSA Comercio-Retail Division and FEMSA Comercio-Fuel Division. The Company conducts its operations through holding companies, such as Coca-Cola FEMSA, SAB. de C.V. and subsidiaries (Coca-Cola FEMSA), which produces, distributes and sells beverages; FEMSA Comercio, SA de C.V.

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Institutional Ownership by Quarter for Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX)

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