Caprock Group LLC Purchases New Stake in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Caprock Group LLC bought a new position in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 7,905 shares of the company's stock, valued at approximately $780,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Oldfield Partners LLP grew its position in Fomento Económico Mexicano by 0.8% during the 2nd quarter. Oldfield Partners LLP now owns 13,300 shares of the company's stock worth $1,432,000 after acquiring an additional 100 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in Fomento Económico Mexicano by 8.9% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,279 shares of the company's stock valued at $167,000 after buying an additional 105 shares during the last quarter. Baker Ellis Asset Management LLC boosted its position in Fomento Económico Mexicano by 0.3% during the 2nd quarter. Baker Ellis Asset Management LLC now owns 43,446 shares of the company's stock valued at $4,677,000 after buying an additional 140 shares during the period. Wealth Alliance grew its holdings in Fomento Económico Mexicano by 4.4% in the 2nd quarter. Wealth Alliance now owns 3,510 shares of the company's stock worth $378,000 after acquiring an additional 147 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. increased its position in shares of Fomento Económico Mexicano by 9.0% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 2,479 shares of the company's stock valued at $245,000 after acquiring an additional 204 shares during the period.

Fomento Económico Mexicano Stock Up 0.6 %

FMX traded up $0.48 during trading on Friday, hitting $87.12. The stock had a trading volume of 879,265 shares, compared to its average volume of 683,532. The stock has a 50 day simple moving average of $97.35 and a two-hundred day simple moving average of $106.26. The company has a market capitalization of $31.17 billion, a PE ratio of 22.34, a PEG ratio of 5.23 and a beta of 0.94. Fomento Económico Mexicano, S.A.B. de C.V. has a twelve month low of $86.13 and a twelve month high of $143.43. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.44 and a current ratio of 1.72.

Fomento Económico Mexicano Cuts Dividend

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

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on FMX shares. Barclays reduced 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. JPMorgan Chase & Co. lowered shares of Fomento Económico Mexicano from an "overweight" rating to a "neutral" rating and upped their price objective for the stock from $104.00 to $109.00 in a report on Monday, September 23rd. Finally, StockNews.com raised Fomento Económico Mexicano from a "hold" rating to a "buy" rating in a research note on Wednesday, November 6th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Fomento Económico Mexicano presently has a consensus rating of "Hold" and a consensus price target of $128.25.

Fomento Económico Mexicano 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.