Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) Shares Acquired by Fmr LLC

FMR LLC increased its position in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX - Free Report) by 5.3% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 491,582 shares of the company's stock after purchasing an additional 24,537 shares during the period. FMR LLC owned 0.14% of Fomento Económico Mexicano worth $48,524,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Mirabella Financial Services LLP purchased a new stake in shares of Fomento Económico Mexicano in the 3rd quarter valued at about $681,000. Dynamic Technology Lab Private Ltd lifted its holdings in shares of Fomento Económico Mexicano by 274.3% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 20,872 shares of the company's stock valued at $2,060,000 after purchasing an additional 15,296 shares during the last quarter. Cerity Partners LLC lifted its holdings in shares of Fomento Económico Mexicano by 2.0% in the 3rd quarter. Cerity Partners LLC now owns 9,520 shares of the company's stock valued at $940,000 after purchasing an additional 191 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Fomento Económico Mexicano by 267.6% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 313,602 shares of the company's stock valued at $30,956,000 after purchasing an additional 228,284 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Fomento Económico Mexicano in the 3rd quarter valued at about $7,672,000.

Fomento Económico Mexicano Stock Performance

NYSE FMX traded down $1.05 on Friday, hitting $90.83. 851,491 shares of the company's stock were exchanged, compared to its average volume of 610,600. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.72 and a quick ratio of 1.44. The firm's 50-day moving average price is $94.49 and its two-hundred day moving average price is $103.73. Fomento Económico Mexicano, S.A.B. de C.V. has a fifty-two week low of $85.30 and a fifty-two week high of $143.43. The firm has a market cap of $32.50 billion, a price-to-earnings ratio of 23.29, a P/E/G ratio of 5.31 and a beta of 0.90.

Fomento Económico Mexicano Cuts Dividend

The firm 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. This represents a yield of 0.87%. The ex-dividend date was Wednesday, October 16th. Fomento Económico Mexicano's payout ratio is 12.82%.

Analysts Set New Price Targets

Several analysts have commented on FMX shares. Barclays reduced 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. StockNews.com raised Fomento Económico Mexicano from a "hold" rating to a "buy" rating in a research note on Wednesday, November 6th. Finally, JPMorgan Chase & Co. downgraded Fomento Económico Mexicano from an "overweight" rating to a "neutral" rating and upped their price objective for the company from $104.00 to $109.00 in a research note on Monday, September 23rd. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Fomento Económico Mexicano has a consensus rating of "Moderate Buy" and a consensus target price of $126.33.

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.