Verition Fund Management LLC Makes New Investment in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Verition Fund Management LLC acquired a new position in shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX - Free Report) in the 3rd quarter, according to its most recent disclosure with the SEC. The fund acquired 28,438 shares of the company's stock, valued at approximately $2,807,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in Fomento Económico Mexicano in the second quarter valued at $51,000. Banque Cantonale Vaudoise acquired a new stake in shares of Fomento Económico Mexicano in the 3rd quarter valued at about $55,000. Van ECK Associates Corp grew its stake in Fomento Económico Mexicano by 61.7% during the 3rd quarter. Van ECK Associates Corp now owns 802 shares of the company's stock worth $78,000 after buying an additional 306 shares during the last quarter. CWM LLC increased its position in Fomento Económico Mexicano by 28.7% during the second quarter. CWM LLC now owns 956 shares of the company's stock worth $103,000 after buying an additional 213 shares during the period. Finally, OLD National Bancorp IN increased its position in Fomento Económico Mexicano by 20.4% during the second quarter. OLD National Bancorp IN now owns 1,991 shares of the company's stock worth $214,000 after buying an additional 338 shares during the period.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on FMX shares. JPMorgan Chase & Co. lowered shares of Fomento Económico Mexicano from an "overweight" rating to a "neutral" rating and raised their target price for the stock from $104.00 to $109.00 in a research report on Monday, September 23rd. Barclays lowered their price target on Fomento Económico Mexicano from $125.00 to $118.00 and set an "overweight" rating on the stock in a report on Wednesday, October 30th. Finally, StockNews.com upgraded Fomento Económico Mexicano from a "hold" rating to a "buy" rating in a research note on Wednesday, November 6th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $128.25.

Fomento Económico Mexicano Price Performance

Fomento Económico Mexicano stock traded up $1.22 during mid-day trading on Thursday, reaching $91.91. The company had a trading volume of 280,904 shares, compared to its average volume of 681,966. The stock's 50-day simple moving average is $94.85 and its 200-day simple moving average is $104.11. The company has a market capitalization of $32.88 billion, a P/E ratio of 23.25, a P/E/G ratio of 5.23 and a beta of 0.90. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.72 and a quick ratio of 1.44. Fomento Económico Mexicano, S.A.B. de C.V. has a 1 year low of $85.30 and a 1 year high of $143.43.

Fomento Económico Mexicano Cuts Dividend

The company also recently announced an annual dividend, which was paid on Monday, October 28th. Shareholders of record on Wednesday, October 16th were given a dividend of $0.864 per share. The ex-dividend date was Wednesday, October 16th. This represents a yield of 0.87%. Fomento Económico Mexicano's payout ratio is 12.82%.

Fomento Económico 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.