Pitcairn Co. Decreases Position in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Pitcairn Co. decreased its holdings in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) by 9.5% in the third quarter, Holdings Channel reports. The firm owned 11,994 shares of the company’s stock after selling 1,252 shares during the period. Pitcairn Co.’s holdings in Fomento Económico Mexicano were worth $1,184,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Dynasty Wealth Management LLC purchased a new stake in Fomento Económico Mexicano during the 1st quarter worth approximately $1,059,000. Zimmer Partners LP increased its position in shares of Fomento Económico Mexicano by 377.8% in the 1st quarter. Zimmer Partners LP now owns 215,000 shares of the company’s stock valued at $28,008,000 after acquiring an additional 170,000 shares during the period. Virtu Financial LLC raised its stake in Fomento Económico Mexicano by 41.6% in the 1st quarter. Virtu Financial LLC now owns 6,865 shares of the company’s stock worth $894,000 after acquiring an additional 2,018 shares during the last quarter. EverSource Wealth Advisors LLC lifted 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 acquiring an additional 105 shares during the period. Finally, Baker Ellis Asset Management LLC lifted its position in Fomento Económico Mexicano by 0.3% during the 2nd quarter. Baker Ellis Asset Management LLC now owns 43,446 shares of the company’s stock worth $4,677,000 after acquiring an additional 140 shares during the period.

Analyst Ratings Changes

Several research analysts have recently issued reports on FMX shares. StockNews.com upgraded Fomento Económico Mexicano from a “hold” rating to a “buy” rating in a research note on Wednesday, November 6th. JPMorgan Chase & Co. downgraded shares of Fomento Económico Mexicano from an “overweight” rating to a “neutral” rating and increased their price target for the stock from $104.00 to $109.00 in a report on Monday, September 23rd. Finally, Barclays decreased 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 note on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $128.25.

Fomento Económico Mexicano Stock Up 0.6 %

Shares of FMX stock opened at $87.14 on Monday. Fomento Económico Mexicano, S.A.B. de C.V. has a twelve month low of $86.13 and a twelve month high of $143.43. The stock has a market cap of $31.18 billion, a P/E ratio of 22.34, a P/E/G ratio of 5.07 and a beta of 0.94. The stock has a 50 day moving average of $97.00 and a 200 day moving average of $105.84. 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 Cuts Dividend

The company also recently disclosed an annual dividend, which was paid on Monday, October 28th. Shareholders of record on Wednesday, October 16th were issued a $0.864 dividend. The ex-dividend date of this dividend was Wednesday, October 16th. This represents a yield of 0.87%. Fomento Económico Mexicano’s payout ratio is 12.82%.

About Fomento Económico Mexicano

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.