Deltec Asset Management LLC Sells 12,000 Shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Deltec Asset Management LLC cut its position in shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX - Free Report) by 76.9% in 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 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Park Place Capital Corp increased its stake in shares of Fomento Económico Mexicano by 78.2% during the first quarter. Park Place Capital Corp now owns 221 shares of the company's stock valued at $29,000 after buying an additional 97 shares during the period. Oldfield Partners LLP raised its holdings in shares of Fomento Económico Mexicano by 0.8% in the 2nd quarter. Oldfield Partners LLP now owns 13,300 shares of the company's stock valued at $1,432,000 after purchasing an additional 100 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position 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 during the period. Baker Ellis Asset Management LLC boosted its stake in shares of Fomento Económico Mexicano by 0.3% during the second 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 in the last quarter. Finally, Wealth Alliance increased its holdings in Fomento Económico Mexicano by 4.4% during the second quarter. Wealth Alliance now owns 3,510 shares of the company's stock valued at $378,000 after buying an additional 147 shares during the period.

Fomento Económico Mexicano Stock Performance

Shares of FMX opened at $96.85 on Wednesday. Fomento Económico Mexicano, S.A.B. de C.V. has a 12 month low of $95.84 and a 12 month high of $143.43. The stock has a fifty day moving average price of $100.75 and a 200-day moving average price of $109.06. The company has a current ratio of 1.72, a quick ratio of 1.44 and a debt-to-equity ratio of 0.36. The firm has a market cap of $34.65 billion, a PE ratio of 26.25, a P/E/G ratio of 5.59 and a beta of 0.94.

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 issued a $0.864 dividend. This represents a yield of 0.87%. The ex-dividend date was Wednesday, October 16th. Fomento Económico Mexicano's dividend payout ratio is presently 13.55%.

Wall Street Analysts Forecast Growth

FMX has been the subject of a number of analyst reports. StockNews.com lowered Fomento Económico Mexicano from a "buy" rating to a "hold" rating in a report on Tuesday. JPMorgan Chase & Co. cut Fomento Económico Mexicano from an "overweight" rating to a "neutral" rating and upped their price objective for the stock from $104.00 to $109.00 in a research note on Monday, September 23rd. Finally, Barclays cut their target price on Fomento Económico Mexicano from $145.00 to $125.00 and set an "overweight" rating on the stock in a research note on Monday, October 14th. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Fomento Económico Mexicano has an average rating of "Hold" and a consensus price target of $129.40.

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.

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