XTX Topco Ltd acquired a new stake in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX - Free Report) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 23,694 shares of the company's stock, valued at approximately $2,339,000.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of FMX. Oldfield Partners LLP increased its stake in Fomento Económico Mexicano by 0.8% during the 2nd quarter. Oldfield Partners LLP now owns 13,300 shares of the company's stock valued at $1,432,000 after buying an additional 100 shares during the period. Wealth Alliance increased its stake in shares of 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 acquiring an additional 147 shares during the period. Stifel Financial Corp raised its holdings in Fomento Económico Mexicano by 1.2% during the third quarter. Stifel Financial Corp now owns 12,479 shares of the company's stock worth $1,232,000 after purchasing an additional 149 shares in the last quarter. Cerity Partners LLC raised its holdings in Fomento Económico Mexicano by 2.0% during the third quarter. Cerity Partners LLC now owns 9,520 shares of the company's stock worth $940,000 after purchasing an additional 191 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. lifted its position in Fomento Económico Mexicano by 9.0% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 2,479 shares of the company's stock worth $245,000 after purchasing an additional 204 shares during the period.
Fomento Económico Mexicano Trading Down 1.1 %
Shares of NYSE:FMX traded down $1.05 during midday trading on Friday, reaching $90.83. The company had a trading volume of 851,491 shares, compared to its average volume of 610,600. The company has a fifty day simple moving average of $94.49 and a two-hundred day simple moving average of $103.64. The firm has a market cap of $32.50 billion, a price-to-earnings ratio of 23.29, a price-to-earnings-growth ratio of 5.31 and a beta of 0.90. Fomento Económico Mexicano, S.A.B. de C.V. has a 1-year low of $85.30 and a 1-year 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 company also recently announced an annual dividend, which was paid on Monday, October 28th. Stockholders of record on Wednesday, October 16th were given a $0.864 dividend. This represents a dividend yield of 0.87%. The ex-dividend date was Wednesday, October 16th. Fomento Económico Mexicano's dividend payout ratio (DPR) is currently 12.82%.
Analyst Ratings Changes
FMX has been the topic of several research reports. Barclays dropped 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 report on Wednesday, October 30th. StockNews.com upgraded shares of Fomento Económico Mexicano from a "hold" rating to a "buy" rating in a report on Wednesday, November 6th. Finally, JPMorgan Chase & Co. cut shares of Fomento Económico Mexicano from an "overweight" rating to a "neutral" rating and raised their target price for the stock from $104.00 to $109.00 in a report on Monday, September 23rd. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $126.33.
Check Out Our Latest Research Report on FMX
About Fomento Económico Mexicano
(
Free Report)
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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