6,902 Shares in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) Acquired by Mirabella Financial Services LLP

Mirabella Financial Services LLP purchased a new position in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 6,902 shares of the company's stock, valued at approximately $681,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of FMX. Oldfield Partners LLP grew its position in Fomento Económico Mexicano by 0.8% in the second quarter. Oldfield Partners LLP now owns 13,300 shares of the company's stock worth $1,432,000 after acquiring an additional 100 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of Fomento Económico Mexicano by 8.9% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,279 shares of the company's stock worth $167,000 after purchasing an additional 105 shares in the last quarter. Baker Ellis Asset Management LLC increased its position in shares of Fomento Económico Mexicano by 0.3% during the 2nd quarter. Baker Ellis Asset Management LLC now owns 43,446 shares of the company's stock valued at $4,677,000 after purchasing an additional 140 shares during the last quarter. Wealth Alliance raised its holdings 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 valued at $378,000 after buying an additional 147 shares in the last quarter. Finally, Cerity Partners LLC lifted its position in Fomento Económico Mexicano by 2.0% in the 3rd quarter. Cerity Partners LLC now owns 9,520 shares of the company's stock worth $940,000 after buying an additional 191 shares during the last quarter.

Wall Street Analyst Weigh In

FMX has been the topic of a number of recent research reports. JPMorgan Chase & Co. cut shares of Fomento Económico Mexicano from an "overweight" rating to a "neutral" rating and increased their price target for the company from $104.00 to $109.00 in a research report on Monday, September 23rd. Barclays reduced their target price on shares of Fomento Económico Mexicano from $125.00 to $118.00 and set an "overweight" rating on the stock in a report on Wednesday, October 30th. Finally, StockNews.com raised shares of Fomento Económico Mexicano from a "hold" rating to a "buy" rating in a research note on Wednesday, November 6th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $128.25.

Fomento Económico Mexicano Trading Down 1.1 %

Shares of NYSE FMX traded down $0.93 during trading hours on Tuesday, hitting $87.57. The company's stock had a trading volume of 476,063 shares, compared to its average volume of 683,858. The business has a 50-day simple moving average of $96.39 and a 200-day simple moving average of $105.38. The stock has a market cap of $31.33 billion, a price-to-earnings ratio of 22.45, a P/E/G ratio of 5.10 and a beta of 0.94. 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 12 month low of $86.13 and a 12 month high of $143.43.

Fomento Económico Mexicano Cuts Dividend

The business also recently disclosed an annual dividend, which was paid on Monday, October 28th. Shareholders of record on Wednesday, October 16th were issued a $0.864 dividend. The ex-dividend date was Wednesday, October 16th. This represents a yield of 0.87%. Fomento Económico Mexicano's dividend payout ratio (DPR) is presently 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.