Deltec Asset Management LLC Has $355,000 Holdings in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Deltec Asset Management LLC lessened its holdings in shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX - Free Report) by 76.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,600 shares of the company's stock after selling 12,000 shares during the period. Deltec Asset Management LLC's holdings in Fomento Económico Mexicano were worth $355,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the business. Healthcare of Ontario Pension Plan Trust Fund lifted its position in 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 worth $50,832,000 after purchasing an additional 416,000 shares during the period. Baillie Gifford & Co. raised its position in shares of Fomento Económico Mexicano by 9.0% in the 1st quarter. Baillie Gifford & Co. now owns 4,183,454 shares of the company's stock valued at $544,979,000 after buying an additional 344,815 shares in the last quarter. Sustainable Growth Advisers LP lifted its holdings in shares of Fomento Económico Mexicano by 122.8% during the 1st quarter. Sustainable Growth Advisers LP now owns 435,906 shares of the company's stock worth $56,785,000 after acquiring an additional 240,256 shares during the period. Millennium Management LLC boosted its position in shares of Fomento Económico Mexicano by 577.6% during the 2nd quarter. Millennium Management LLC now owns 222,464 shares of the company's stock worth $23,948,000 after acquiring an additional 189,632 shares in the last quarter. Finally, Employees Retirement System of Texas increased its stake in Fomento Económico Mexicano by 64.1% in the second quarter. Employees Retirement System of Texas now owns 471,096 shares of the company's stock valued at $50,713,000 after acquiring an additional 184,000 shares during the last quarter.

Analysts Set New Price Targets

FMX has been the topic of several research analyst reports. JPMorgan Chase & Co. lowered Fomento Económico Mexicano from an "overweight" rating to a "neutral" rating and raised their price objective for the company from $104.00 to $109.00 in a research note on Monday, September 23rd. Barclays reduced 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 research note on Wednesday. Finally, StockNews.com cut shares of Fomento Económico Mexicano from a "buy" rating to a "hold" rating in a research report on Tuesday. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $128.00.

Fomento Económico Mexicano Trading Down 0.8 %

NYSE:FMX traded down $0.75 during mid-day trading on Wednesday, hitting $96.05. 883,171 shares of the company's stock were exchanged, compared to its average volume of 686,296. 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 fifty-two week low of $94.86 and a fifty-two week high of $143.43. The company has a 50 day simple moving average of $100.75 and a 200-day simple moving average of $109.06. The firm has a market capitalization of $34.37 billion, a P/E ratio of 25.81, a PEG ratio of 5.59 and a beta of 0.94.

Fomento Económico Mexicano Cuts Dividend

The business also recently announced an annual dividend, which was paid on Monday, October 28th. Shareholders of record on Wednesday, October 16th were issued 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 payout ratio is presently 13.55%.

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.