International Assets Investment Management LLC Takes Position in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

International Assets Investment Management LLC purchased a new position in shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 30,304 shares of the company's stock, valued at approximately $2,991,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in FMX. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new stake in shares of Fomento Económico Mexicano in the 2nd quarter worth about $51,000. CWM LLC increased its position in shares of Fomento Económico Mexicano by 28.7% in the 2nd quarter. CWM LLC now owns 956 shares of the company's stock worth $103,000 after purchasing an additional 213 shares during the last quarter. Contravisory Investment Management Inc. bought a new stake in shares of Fomento Económico Mexicano in the 2nd quarter worth about $163,000. EverSource Wealth Advisors LLC increased 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 last quarter. Finally, OLD National Bancorp IN increased its position in shares of Fomento Económico Mexicano by 20.4% in the 2nd quarter. OLD National Bancorp IN now owns 1,991 shares of the company's stock worth $214,000 after purchasing an additional 338 shares during the last quarter.

Fomento Económico Mexicano Price Performance

Shares of NYSE:FMX traded down $0.15 during trading on Friday, reaching $96.74. The company had a trading volume of 768,394 shares, compared to its average volume of 649,857. The firm's fifty day moving average is $100.10 and its 200 day moving average is $108.56. The firm has a market capitalization of $34.61 billion, a PE ratio of 24.81, a price-to-earnings-growth ratio of 5.47 and a beta of 0.94. Fomento Económico Mexicano, S.A.B. de C.V. has a twelve month low of $94.86 and a twelve month high of $143.43. 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 Cuts Dividend

The firm also recently announced an annual dividend, which was paid on Monday, October 28th. Investors of record on Wednesday, October 16th were issued a $0.864 dividend. The ex-dividend date of this dividend was Wednesday, October 16th. This represents a dividend yield of 0.87%. Fomento Económico Mexicano's payout ratio is currently 12.82%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on FMX shares. JPMorgan Chase & Co. lowered shares of Fomento Económico Mexicano from an "overweight" rating to a "neutral" rating and lifted their price target for the company from $104.00 to $109.00 in a report on Monday, September 23rd. Barclays decreased 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. Finally, StockNews.com lowered shares of Fomento Económico Mexicano from a "buy" rating to a "hold" rating in a report on Tuesday, October 29th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $128.00.

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.