Ritholtz Wealth Management Decreases Stock Holdings in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Ritholtz Wealth Management lowered its position in shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) by 14.5% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,957 shares of the company’s stock after selling 1,520 shares during the period. Ritholtz Wealth Management’s holdings in Fomento Económico Mexicano were worth $884,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Park Place Capital Corp boosted its holdings 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 worth $29,000 after purchasing an additional 97 shares during the period. Mather Group LLC. purchased a new stake in Fomento Económico Mexicano in the 1st quarter worth approximately $34,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new stake in shares of Fomento Económico Mexicano in the 2nd quarter worth approximately $51,000. CWM LLC increased its stake in shares of Fomento Económico Mexicano by 28.7% during the second quarter. CWM LLC now owns 956 shares of the company’s stock valued at $103,000 after buying an additional 213 shares during the period. Finally, Contravisory Investment Management Inc. bought a new position in shares of Fomento Económico Mexicano during the second quarter valued at approximately $163,000.

Fomento Económico Mexicano Stock Performance

Shares of FMX stock opened at $98.69 on Tuesday. The company’s fifty day moving average price is $103.76 and its 200-day moving average price is $111.39. The stock has a market cap of $35.31 billion, a PE ratio of 26.75, a price-to-earnings-growth ratio of 5.60 and a beta of 0.94. 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 12 month low of $97.58 and a 12 month high of $143.43.

Fomento Económico Mexicano (NYSE:FMX) last released its earnings results on Wednesday, July 24th. The company reported $1.87 earnings per share (EPS) for the quarter. The firm had revenue of $11.54 billion during the quarter. Fomento Económico Mexicano had a net margin of 3.75% and a return on equity of 8.65%. On average, equities analysts expect that Fomento Económico Mexicano, S.A.B. de C.V. will post 5.41 EPS for the current fiscal year.

Fomento Económico Mexicano Cuts Dividend

The business also recently announced an annual dividend, which will be paid on Monday, October 28th. Stockholders of record on Wednesday, October 16th will be paid a $0.864 dividend. The ex-dividend date of this dividend is Wednesday, October 16th. This represents a dividend yield of 0.87%. Fomento Económico Mexicano’s dividend payout ratio is currently 23.31%.

Analyst Upgrades and Downgrades

FMX has been the topic of several recent analyst reports. Barclays cut their price target on shares of Fomento Económico Mexicano from $145.00 to $125.00 and set an “overweight” rating on the stock in a report on Monday. JPMorgan Chase & Co. lowered shares of Fomento Económico Mexicano from an “overweight” rating to a “neutral” rating and lifted their target price for the company from $104.00 to $109.00 in a research note on Monday, September 23rd. Finally, StockNews.com raised shares of Fomento Económico Mexicano from a “hold” rating to a “buy” rating in a research note on Thursday, October 10th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $129.40.

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.