Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) Shares Purchased by Van ECK Associates Corp

Van ECK Associates Corp boosted its position in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) by 61.7% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 802 shares of the company’s stock after purchasing an additional 306 shares during the quarter. Van ECK Associates Corp’s holdings in Fomento Económico Mexicano were worth $78,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in Fomento Económico Mexicano in the 2nd quarter valued at $51,000. CWM LLC raised its stake in Fomento Económico Mexicano by 28.7% in the 2nd 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. acquired a new position in Fomento Económico Mexicano in the 2nd quarter valued at $163,000. EverSource Wealth Advisors LLC increased its stake in shares of Fomento Económico Mexicano by 8.9% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,279 shares of the company’s stock worth $167,000 after acquiring an additional 105 shares during the last quarter. Finally, OLD National Bancorp IN increased its stake in shares of Fomento Económico Mexicano by 20.4% in the 2nd quarter. OLD National Bancorp IN now owns 1,991 shares of the company’s stock worth $214,000 after acquiring an additional 338 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on FMX shares. Barclays cut their target price on Fomento Económico Mexicano from $125.00 to $118.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. JPMorgan Chase & Co. cut Fomento Económico Mexicano from an “overweight” rating to a “neutral” rating and raised their target price for the company from $104.00 to $109.00 in a report on Monday, September 23rd. Finally, StockNews.com upgraded Fomento Económico Mexicano from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $128.25.

Fomento Económico Mexicano Stock Performance

Shares of Fomento Económico Mexicano stock opened at $92.79 on Thursday. The business has a 50-day moving average of $99.08 and a 200 day moving average of $107.50. 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 stock has a market capitalization of $33.20 billion, a price-to-earnings ratio of 23.79, a price-to-earnings-growth ratio of 5.45 and a beta of 0.94. Fomento Económico Mexicano, S.A.B. de C.V. has a 12 month low of $91.90 and a 12 month high of $143.43.

Fomento Económico Mexicano Cuts Dividend

The business also recently announced 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 was Wednesday, October 16th. Fomento Económico Mexicano’s payout ratio is currently 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.