Healthcare of Ontario Pension Plan Trust Fund Sells 318,900 Shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Healthcare of Ontario Pension Plan Trust Fund lessened its stake in shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX - Free Report) by 67.5% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 153,300 shares of the company's stock after selling 318,900 shares during the period. Healthcare of Ontario Pension Plan Trust Fund's holdings in Fomento Económico Mexicano were worth $15,132,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in FMX. Manning & Napier Advisors LLC purchased a new position in shares of Fomento Económico Mexicano in the 2nd quarter worth about $2,994,000. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Fomento Económico Mexicano during the third quarter valued at approximately $7,672,000. Klein Pavlis & Peasley Financial Inc. increased its position in shares of Fomento Económico Mexicano by 29.6% during the second quarter. Klein Pavlis & Peasley Financial Inc. now owns 24,105 shares of the company's stock valued at $2,595,000 after acquiring an additional 5,505 shares in the last quarter. Perpetual Ltd lifted its position in Fomento Económico Mexicano by 9.4% in the 3rd quarter. Perpetual Ltd now owns 746,826 shares of the company's stock valued at $73,719,000 after acquiring an additional 64,291 shares in the last quarter. Finally, SG Americas Securities LLC boosted its stake in Fomento Económico Mexicano by 67.3% during the 2nd quarter. SG Americas Securities LLC now owns 2,862 shares of the company's stock valued at $308,000 after purchasing an additional 1,151 shares during the last quarter.

Fomento Económico Mexicano Stock Performance

Shares of FMX traded up $3.58 during trading hours on Friday, hitting $89.39. The stock had a trading volume of 733,115 shares, compared to its average volume of 685,112. The firm has a market capitalization of $31.98 billion, a PE ratio of 22.92, a PEG ratio of 5.03 and a beta of 0.94. 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, S.A.B. de C.V. has a 12 month low of $85.30 and a 12 month high of $143.43. The stock has a fifty day moving average price of $95.53 and a 200 day moving average price of $104.88.

Fomento Económico Mexicano Cuts Dividend

The firm also recently declared an annual dividend, which was paid on Monday, October 28th. Stockholders of record on Wednesday, October 16th were given a dividend of $0.864 per share. This represents a dividend yield of 0.87%. The ex-dividend date of this dividend was Wednesday, October 16th. Fomento Económico Mexicano's payout ratio is currently 12.82%.

Analyst Ratings Changes

Several research analysts have recently weighed in on FMX shares. Barclays decreased their price target 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 report on Wednesday, November 6th. Finally, JPMorgan Chase & Co. cut shares of Fomento Económico Mexicano from an "overweight" rating to a "neutral" rating and upped their target price for the company from $104.00 to $109.00 in a research note on Monday, September 23rd. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Fomento Económico Mexicano currently has an average 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.