JPMorgan Chase & Co. Decreases Holdings in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

JPMorgan Chase & Co. lessened its stake in shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX - Free Report) by 9.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,032,196 shares of the company's stock after selling 313,320 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.85% of Fomento Económico Mexicano worth $299,308,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Banque Cantonale Vaudoise purchased a new stake in shares of Fomento Económico Mexicano during the third quarter worth about $55,000. Van ECK Associates Corp grew its stake in Fomento Económico Mexicano by 61.7% in the 3rd quarter. Van ECK Associates Corp now owns 802 shares of the company's stock worth $78,000 after acquiring an additional 306 shares during the period. Fielder Capital Group LLC acquired a new position in Fomento Económico Mexicano in the 2nd quarter valued at $242,000. Whittier Trust Co. of Nevada Inc. raised its holdings in Fomento Económico Mexicano by 9.0% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 2,479 shares of the company's stock valued at $245,000 after acquiring an additional 204 shares during the last quarter. Finally, Wealth Alliance lifted its stake in shares of Fomento Económico Mexicano by 4.4% during the 2nd quarter. Wealth Alliance now owns 3,510 shares of the company's stock worth $378,000 after purchasing an additional 147 shares during the period. Institutional investors and hedge funds own 61.00% of the company's stock.

Analyst Ratings Changes

FMX has been the subject of several analyst reports. Barclays dropped their target price 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. JPMorgan Chase & Co. downgraded shares of 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. Finally, StockNews.com raised shares of Fomento Económico Mexicano from a "hold" rating to a "buy" rating in a research report on Wednesday, November 6th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Fomento Económico Mexicano has an average rating of "Moderate Buy" and a consensus target price of $126.33.

Fomento Económico Mexicano Trading Down 2.3 %

Fomento Económico Mexicano stock traded down $1.97 during midday trading on Monday, reaching $85.31. The stock had a trading volume of 353,984 shares, compared to its average volume of 666,427. The stock has a market capitalization of $30.52 billion, a PE ratio of 21.87, a price-to-earnings-growth 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. The stock's 50-day simple moving average is $91.04 and its 200 day simple moving average is $100.83. Fomento Económico Mexicano, S.A.B. de C.V. has a twelve month low of $84.49 and a twelve month high of $143.43.

Fomento Económico Mexicano Cuts Dividend

The firm also recently announced 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 of this dividend was Wednesday, October 16th. Fomento Económico Mexicano's dividend payout ratio (DPR) is presently 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.