HighTower Advisors LLC Sells 6,527 Shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

HighTower Advisors LLC decreased its position in shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX - Free Report) by 68.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,050 shares of the company's stock after selling 6,527 shares during the quarter. HighTower Advisors LLC's holdings in Fomento Económico Mexicano were worth $301,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Fomento Económico Mexicano during the third quarter worth $7,672,000. BNP Paribas Financial Markets raised its stake in shares of Fomento Económico Mexicano by 107.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 326,302 shares of the company's stock valued at $32,209,000 after purchasing an additional 169,184 shares during the period. Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of Fomento Económico Mexicano by 740.2% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 472,200 shares of the company's stock valued at $50,832,000 after purchasing an additional 416,000 shares during the period. Perpetual Ltd lifted its holdings in shares of Fomento Económico Mexicano by 9.4% in the third quarter. Perpetual Ltd now owns 746,826 shares of the company's stock valued at $73,719,000 after purchasing an additional 64,291 shares in the last quarter. Finally, Baillie Gifford & Co. boosted its position in shares of Fomento Económico Mexicano by 10.8% during the third quarter. Baillie Gifford & Co. now owns 4,306,739 shares of the company's stock worth $425,118,000 after buying an additional 421,057 shares during the period. Institutional investors and hedge funds own 61.00% of the company's stock.

Fomento Económico Mexicano Price Performance

Shares of Fomento Económico Mexicano stock traded up $0.01 on Tuesday, reaching $87.34. 100,808 shares of the stock were exchanged, compared to its average volume of 671,469. The firm's 50 day moving average is $92.11 and its 200-day moving average is $101.59. The firm has a market cap of $31.25 billion, a PE ratio of 22.39, a P/E/G ratio of 5.23 and a beta of 0.90. 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 one year low of $84.49 and a one year high of $143.43.

Fomento Económico Mexicano Cuts Dividend

The business also recently disclosed an annual dividend, which was paid on Monday, October 28th. Investors 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 dividend payout ratio is 12.82%.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Barclays cut their target price on Fomento Económico Mexicano from $125.00 to $118.00 and set an "overweight" rating on the stock in a research note on Wednesday, October 30th. StockNews.com raised shares of Fomento Económico Mexicano from a "hold" rating to a "buy" rating in a research report on Wednesday, November 6th. Finally, JPMorgan Chase & Co. cut shares of Fomento Económico Mexicano from an "overweight" rating to a "neutral" rating and increased their target price for the stock from $104.00 to $109.00 in a report on Monday, September 23rd. Three equities research 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.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $126.33.

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.