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

International Assets Investment Management LLC bought a new stake in shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) in the third quarter, Holdings Channel.com reports. The institutional investor bought 30,304 shares of the company’s stock, valued at approximately $2,991,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. ANTIPODES PARTNERS Ltd raised its holdings in shares of Fomento Económico Mexicano by 19.4% in the first quarter. ANTIPODES PARTNERS Ltd now owns 945,491 shares of the company’s stock worth $123,169,000 after buying an additional 153,771 shares during the last quarter. Black Creek Investment Management Inc. raised its holdings in shares of Fomento Económico Mexicano by 15.5% in the second quarter. Black Creek Investment Management Inc. now owns 906,798 shares of the company’s stock worth $97,617,000 after buying an additional 121,800 shares during the last quarter. LA Financiere DE L Echiquier raised its holdings in shares of Fomento Económico Mexicano by 22.1% in the second quarter. LA Financiere DE L Echiquier now owns 776,241 shares of the company’s stock worth $83,562,000 after buying an additional 140,309 shares during the last quarter. Perpetual Ltd raised its holdings in shares of Fomento Económico Mexicano by 9.4% in the third quarter. Perpetual Ltd now owns 746,826 shares of the company’s stock worth $73,719,000 after buying an additional 64,291 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its holdings in shares of Fomento Económico Mexicano by 740.2% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 472,200 shares of the company’s stock worth $50,832,000 after buying an additional 416,000 shares during the last quarter.

Analyst Upgrades and Downgrades

FMX has been the subject of a number of research analyst reports. StockNews.com cut shares of Fomento Económico Mexicano from a “buy” rating to a “hold” rating in a report on Tuesday, October 29th. JPMorgan Chase & Co. cut shares of Fomento Económico Mexicano from an “overweight” rating to a “neutral” rating and raised their price target for the stock from $104.00 to $109.00 in a report on Monday, September 23rd. Finally, 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. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $128.00.

Fomento Económico Mexicano Trading Down 0.2 %

Shares of Fomento Económico Mexicano stock opened at $96.74 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.72 and a quick ratio of 1.44. The firm has a fifty day moving average price of $100.10 and a 200 day moving average price of $108.63. Fomento Económico Mexicano, S.A.B. de C.V. has a 1 year low of $94.86 and a 1 year high of $143.43. The stock has a market cap 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 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 dividend of $0.864 per share. The ex-dividend date of this dividend was Wednesday, October 16th. This represents a dividend yield of 0.87%. Fomento Económico Mexicano’s dividend payout ratio (DPR) is presently 12.82%.

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.