Deltec Asset Management LLC Trims Holdings in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Deltec Asset Management LLC lowered its position in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) by 76.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,600 shares of the company’s stock after selling 12,000 shares during the period. Deltec Asset Management LLC’s holdings in Fomento Económico Mexicano were worth $355,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of FMX. Park Place Capital Corp raised its position in Fomento Económico Mexicano by 78.2% during the 1st quarter. Park Place Capital Corp now owns 221 shares of the company’s stock worth $29,000 after buying an additional 97 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in Fomento Económico Mexicano during the second quarter valued at $51,000. CWM LLC boosted its holdings in Fomento Económico Mexicano by 28.7% in 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. EverSource Wealth Advisors LLC grew its position in Fomento Económico Mexicano by 8.9% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,279 shares of the company’s stock worth $167,000 after purchasing an additional 105 shares during the period. Finally, Contravisory Investment Management Inc. purchased a new position in shares of Fomento Económico Mexicano during the 2nd quarter valued at about $163,000.

Analysts Set New Price Targets

FMX has been the topic of a number of recent research reports. JPMorgan Chase & Co. lowered Fomento Económico Mexicano from an “overweight” rating to a “neutral” rating and raised their target price for the stock from $104.00 to $109.00 in a report on Monday, September 23rd. Barclays dropped their price objective on shares of Fomento Económico Mexicano from $145.00 to $125.00 and set an “overweight” rating on the stock in a research note on Monday, October 14th. Finally, StockNews.com cut shares of Fomento Económico Mexicano from a “buy” rating to a “hold” rating in a research note on Tuesday. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Fomento Económico Mexicano has a consensus rating of “Hold” and a consensus target price of $129.40.

Fomento Económico Mexicano Stock Down 1.6 %

Fomento Económico Mexicano stock opened at $96.85 on Wednesday. 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 $34.65 billion, a PE ratio of 26.25, a price-to-earnings-growth ratio of 5.59 and a beta of 0.94. The business has a 50 day simple moving average of $100.75 and a 200-day simple moving average of $109.06. Fomento Económico Mexicano, S.A.B. de C.V. has a 12 month low of $95.84 and a 12 month high of $143.43.

Fomento Económico Mexicano Cuts Dividend

The business also recently disclosed an annual dividend, which was paid on Monday, October 28th. Shareholders of record on Wednesday, October 16th were given a dividend of $0.864 per share. This represents a yield of 0.87%. The ex-dividend date was Wednesday, October 16th. Fomento Económico Mexicano’s dividend payout ratio is presently 13.55%.

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.