BNP Paribas Financial Markets Boosts Stock Position in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

BNP Paribas Financial Markets boosted its holdings in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX - Free Report) by 107.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 326,302 shares of the company's stock after acquiring an additional 169,184 shares during the period. BNP Paribas Financial Markets owned 0.09% of Fomento Económico Mexicano worth $32,209,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in shares of Fomento Económico Mexicano in the 2nd quarter valued at $51,000. Banque Cantonale Vaudoise acquired a new position in Fomento Económico Mexicano in the third quarter valued at about $55,000. Van ECK Associates Corp boosted its stake in Fomento Económico Mexicano by 61.7% during the third 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 period. CWM LLC increased its position in shares of Fomento Económico Mexicano by 28.7% during the second quarter. CWM LLC now owns 956 shares of the company's stock valued at $103,000 after acquiring an additional 213 shares during the last quarter. Finally, Contravisory Investment Management Inc. purchased a new stake in shares of Fomento Económico Mexicano in the 2nd quarter valued at approximately $163,000.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. JPMorgan Chase & Co. cut shares of Fomento Económico Mexicano from an "overweight" rating to a "neutral" rating and increased their price objective for the stock from $104.00 to $109.00 in a research report on Monday, September 23rd. Barclays dropped their price objective on Fomento Económico Mexicano from $125.00 to $118.00 and set an "overweight" rating for the company in a research note on Wednesday, October 30th. Finally, StockNews.com raised 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 given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $128.25.

Fomento Económico Mexicano Stock Up 4.2 %

Shares of Fomento Económico Mexicano stock traded up $3.58 during trading hours on Friday, reaching $89.39. 733,362 shares of the company were exchanged, compared to its average volume of 685,112. The firm has a market cap of $31.98 billion, a PE ratio of 22.92, a PEG ratio of 5.03 and a beta of 0.94. 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, S.A.B. de C.V. has a 1 year low of $85.30 and a 1 year high of $143.43. The stock's fifty day moving average is $95.53 and its 200 day moving average is $104.77.

Fomento Económico Mexicano Cuts Dividend

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

About Fomento Económico Mexicano

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.