National Bank of Canada FI Sells 202,308 Shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

National Bank of Canada FI trimmed its position in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX - Free Report) by 93.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,458 shares of the company's stock after selling 202,308 shares during the quarter. National Bank of Canada FI's holdings in Fomento Económico Mexicano were worth $1,427,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Stifel Financial Corp lifted its position in shares of Fomento Económico Mexicano by 1.2% in the third quarter. Stifel Financial Corp now owns 12,479 shares of the company's stock worth $1,232,000 after buying an additional 149 shares in the last quarter. Verition Fund Management LLC bought a new position in shares of Fomento Económico Mexicano during the 3rd quarter valued at approximately $2,807,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Fomento Económico Mexicano by 2.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 30,335 shares of the company's stock valued at $2,994,000 after purchasing an additional 607 shares in the last quarter. BNP Paribas Financial Markets increased its position in Fomento Económico Mexicano by 107.7% in the third quarter. BNP Paribas Financial Markets now owns 326,302 shares of the company's stock worth $32,209,000 after purchasing an additional 169,184 shares during the last quarter. Finally, Quantbot Technologies LP raised its stake in Fomento Económico Mexicano by 333.7% during the third quarter. Quantbot Technologies LP now owns 6,687 shares of the company's stock valued at $660,000 after purchasing an additional 5,145 shares in the last quarter. Institutional investors own 61.00% of the company's stock.

Analyst Ratings Changes

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

Fomento Económico Mexicano Trading Up 0.1 %

Shares of FMX stock traded up $0.13 during trading hours on Friday, reaching $88.68. 684,369 shares of the stock were exchanged, compared to its average volume of 679,044. The company has a current ratio of 1.72, a quick ratio of 1.44 and a debt-to-equity ratio of 0.36. 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 firm has a market capitalization of $31.73 billion, a price-to-earnings ratio of 22.74, a price-to-earnings-growth ratio of 5.23 and a beta of 0.90. The company's 50-day moving average price is $93.52 and its 200-day moving average price is $102.76.

Fomento Económico Mexicano Cuts Dividend

The firm also recently announced 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. 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 (DPR) is 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.