Natixis Advisors LLC Cuts Stock Holdings in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Natixis Advisors LLC trimmed its holdings in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX - Free Report) by 11.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 52,261 shares of the company's stock after selling 6,471 shares during the quarter. Natixis Advisors LLC's holdings in Fomento Económico Mexicano were worth $5,159,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Baillie Gifford & Co. lifted 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 purchasing an additional 421,057 shares during the last quarter. Black Creek Investment Management Inc. grew its stake in Fomento Económico Mexicano by 15.5% in the 2nd quarter. Black Creek Investment Management Inc. now owns 906,798 shares of the company's stock worth $97,617,000 after acquiring an additional 121,800 shares in the last quarter. LA Financiere DE L Echiquier increased its position in shares of Fomento Económico Mexicano by 22.1% during the second quarter. LA Financiere DE L Echiquier now owns 776,241 shares of the company's stock worth $83,562,000 after acquiring an additional 140,309 shares during the period. Perpetual Ltd raised its stake in shares of Fomento Económico Mexicano by 9.4% during the third 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, Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of Fomento Económico Mexicano by 740.2% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 472,200 shares of the company's stock valued at $50,832,000 after acquiring an additional 416,000 shares in the last quarter.

Analyst Ratings Changes

Several research analysts have commented on the company. JPMorgan Chase & Co. downgraded Fomento Económico Mexicano from an "overweight" rating to a "neutral" rating and raised their price objective for the stock from $104.00 to $109.00 in a report 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 on the stock in a report on Wednesday, October 30th. Finally, StockNews.com upgraded Fomento Económico Mexicano from a "hold" rating to a "buy" rating in a research note on Wednesday, November 6th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, Fomento Económico Mexicano has an average rating of "Hold" and a consensus target price of $128.25.

Fomento Económico Mexicano Stock Performance

FMX traded up $0.50 on Friday, reaching $87.14. 879,265 shares of the stock were exchanged, compared to its average volume of 672,191. The company's 50-day moving average price is $97.00 and its 200 day moving average price is $106.03. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.72 and a quick ratio of 1.44. The firm has a market capitalization of $31.18 billion, a PE ratio of 22.34, a PEG ratio of 5.07 and a beta of 0.94. Fomento Económico Mexicano, S.A.B. de C.V. has a fifty-two week low of $86.13 and a fifty-two week high of $143.43.

Fomento Económico Mexicano Cuts Dividend

The firm also recently declared an annual dividend, which was paid on Monday, October 28th. Shareholders 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 presently 12.82%.

Fomento Económico Mexicano Company 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.