Banque Cantonale Vaudoise Purchases Shares of 560 Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Banque Cantonale Vaudoise purchased a new stake in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) during the third quarter, HoldingsChannel.com reports. The fund purchased 560 shares of the company’s stock, valued at approximately $55,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new stake in Fomento Económico Mexicano in the 2nd quarter valued at $51,000. Van ECK Associates Corp increased its holdings in Fomento Económico Mexicano by 61.7% in the 3rd quarter. Van ECK Associates Corp now owns 802 shares of the company’s stock valued at $78,000 after acquiring an additional 306 shares during the last quarter. CWM LLC lifted its position in 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 purchasing an additional 213 shares during the last quarter. Contravisory Investment Management Inc. bought a new position in Fomento Económico Mexicano during the second quarter valued at $163,000. Finally, EverSource Wealth Advisors LLC lifted its position in Fomento Económico Mexicano by 8.9% during the first quarter. EverSource Wealth Advisors LLC now owns 1,279 shares of the company’s stock valued at $167,000 after purchasing an additional 105 shares during the last quarter.

Fomento Económico Mexicano Price Performance

FMX opened at $87.14 on Friday. The company has a quick ratio of 1.44, a current ratio of 1.72 and a debt-to-equity ratio of 0.36. The business has a fifty day moving average of $97.00 and a 200 day moving average of $105.94. Fomento Económico Mexicano, S.A.B. de C.V. has a 52-week low of $86.13 and a 52-week high of $143.43. The stock has a market cap of $31.18 billion, a P/E ratio of 22.34, a PEG ratio of 5.07 and a beta of 0.94.

Fomento Económico Mexicano Cuts Dividend

The business also recently declared an annual dividend, which was paid on Monday, October 28th. Stockholders of record on Wednesday, October 16th were issued 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 payout ratio is presently 12.82%.

Analyst Ratings Changes

FMX has been the subject of several research reports. Barclays lowered their price objective on shares of Fomento Económico Mexicano from $125.00 to $118.00 and set an “overweight” rating for the company 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 research report on Wednesday, November 6th. Finally, JPMorgan Chase & Co. lowered shares of Fomento Económico Mexicano from an “overweight” rating to a “neutral” rating and increased their price objective for the company from $104.00 to $109.00 in a research report on Monday, September 23rd. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $128.25.

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.