Easterly Investment Partners LLC Raises Stock Holdings in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Easterly Investment Partners LLC grew its position in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX - Free Report) by 481.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 101,123 shares of the company's stock after acquiring an additional 83,726 shares during the quarter. Easterly Investment Partners LLC's holdings in Fomento Económico Mexicano were worth $9,982,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in FMX. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new stake in Fomento Económico Mexicano in the 2nd quarter worth approximately $51,000. Van ECK Associates Corp increased its position in shares of Fomento Económico Mexicano by 61.7% during the 3rd quarter. Van ECK Associates Corp now owns 802 shares of the company's stock valued at $78,000 after purchasing an additional 306 shares during the last quarter. CWM LLC increased its position in shares of Fomento Económico Mexicano by 28.7% during the 2nd quarter. CWM LLC now owns 956 shares of the company's stock valued at $103,000 after purchasing an additional 213 shares during the last quarter. Contravisory Investment Management Inc. bought a new position in shares of Fomento Económico Mexicano during the 2nd quarter valued at approximately $163,000. Finally, EverSource Wealth Advisors LLC increased its position in shares of 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 purchasing an additional 105 shares during the last quarter.

Fomento Económico Mexicano Stock Down 0.1 %

Shares of FMX stock traded down $0.13 during mid-day trading on Friday, hitting $96.88. The stock had a trading volume of 502,213 shares, compared to its average volume of 685,497. Fomento Económico Mexicano, S.A.B. de C.V. has a 12-month low of $93.32 and a 12-month high of $143.43. The firm has a market capitalization of $34.66 billion, a P/E ratio of 24.84, a price-to-earnings-growth ratio of 5.52 and a beta of 0.94. The firm's 50-day moving average is $99.36 and its two-hundred day moving average is $107.93. 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 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 issued a $0.864 dividend. This represents a dividend yield of 0.87%. The ex-dividend date of this dividend was Wednesday, October 16th. Fomento Económico Mexicano's dividend payout ratio is 12.82%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on FMX. JPMorgan Chase & Co. downgraded Fomento Económico Mexicano from an "overweight" rating to a "neutral" rating and boosted their target price for the company from $104.00 to $109.00 in a research report on Monday, September 23rd. StockNews.com raised Fomento Económico Mexicano from a "hold" rating to a "buy" rating in a research report on Wednesday. Finally, Barclays cut their price objective on Fomento Económico Mexicano from $125.00 to $118.00 and set an "overweight" rating on the stock in a research report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Fomento Económico Mexicano currently has a consensus rating of "Hold" and an average price target of $128.25.

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.