Barclays PLC Raises Stock Holdings in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Barclays PLC lifted its stake in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX - Free Report) by 78.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 72,159 shares of the company's stock after acquiring an additional 31,656 shares during the period. Barclays PLC's holdings in Fomento Económico Mexicano were worth $7,123,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Banque Cantonale Vaudoise bought a new position in Fomento Económico Mexicano in the 3rd quarter valued at $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 valued at $78,000 after buying an additional 306 shares during the period. Fielder Capital Group LLC purchased a new position in Fomento Económico Mexicano during the second quarter worth about $242,000. Whittier Trust Co. of Nevada Inc. increased its stake in Fomento Económico Mexicano by 24.6% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 2,275 shares of the company's stock worth $245,000 after acquiring an additional 449 shares during the last quarter. Finally, SG Americas Securities LLC raised its holdings in shares of Fomento Económico Mexicano by 67.3% in the 2nd quarter. SG Americas Securities LLC now owns 2,862 shares of the company's stock valued at $308,000 after acquiring an additional 1,151 shares in the last quarter. 61.00% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Fomento Económico Mexicano Price Performance

FMX traded down $2.09 during midday trading on Thursday, hitting $84.71. The stock had a trading volume of 594,491 shares, compared to its average volume of 676,413. The company has a market cap of $30.31 billion, a P/E ratio of 21.72, a price-to-earnings-growth ratio of 5.23 and a beta of 0.90. Fomento Económico Mexicano, S.A.B. de C.V. has a 1 year low of $84.49 and a 1 year high of $143.43. The business has a fifty day moving average of $92.83 and a 200 day moving average of $102.17. 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 disclosed an annual dividend, which was paid on Monday, October 28th. Stockholders of record on Wednesday, October 16th were issued 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 is currently 12.82%.

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.