7,265 Shares in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) Acquired by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd purchased a new position in shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX - Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 7,265 shares of the company's stock, valued at approximately $717,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Oldfield Partners LLP boosted its holdings in shares of Fomento Económico Mexicano by 0.8% in the second quarter. Oldfield Partners LLP now owns 13,300 shares of the company's stock valued at $1,432,000 after acquiring an additional 100 shares in the last quarter. Wealth Alliance lifted its position in Fomento Económico Mexicano by 4.4% in the second quarter. Wealth Alliance now owns 3,510 shares of the company's stock valued at $378,000 after purchasing an additional 147 shares during the period. Stifel Financial Corp boosted its holdings in Fomento Económico Mexicano by 1.2% in the 3rd quarter. Stifel Financial Corp now owns 12,479 shares of the company's stock valued at $1,232,000 after purchasing an additional 149 shares in the last quarter. Cerity Partners LLC increased its position in Fomento Económico Mexicano by 2.0% during the 3rd quarter. Cerity Partners LLC now owns 9,520 shares of the company's stock worth $940,000 after purchasing an additional 191 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. increased its position in Fomento Económico Mexicano by 9.0% during the 3rd 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. 61.00% of the stock is currently owned by hedge funds and other institutional investors.

Fomento Económico Mexicano Price Performance

NYSE FMX traded up $0.13 during mid-day trading on Friday, hitting $88.68. The stock had a trading volume of 684,369 shares, compared to its average volume of 679,044. The company has a 50 day simple moving average of $93.52 and a 200 day simple moving average of $102.86. The company has a market cap of $31.73 billion, a price-to-earnings ratio of 22.74, a P/E/G ratio of 5.23 and a beta of 0.90. Fomento Económico Mexicano, S.A.B. de C.V. has a 52-week low of $85.30 and a 52-week high of $143.43. The company has a quick ratio of 1.44, a current ratio of 1.72 and a debt-to-equity ratio of 0.36.

Fomento Económico Mexicano Cuts Dividend

The company also recently declared 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 of this dividend was Wednesday, October 16th. Fomento Económico Mexicano's dividend payout ratio is currently 12.82%.

Analyst Ratings Changes

A number of research firms recently weighed in on FMX. JPMorgan Chase & Co. downgraded 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 research note on Monday, September 23rd. StockNews.com upgraded shares of Fomento Económico Mexicano from a "hold" rating to a "buy" rating in a research report on Wednesday, November 6th. Finally, 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 research note on Wednesday, October 30th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $126.33.

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.