Synovus Financial Corp Has $1.20 Million Holdings in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Synovus Financial Corp increased its position in shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) by 100.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,192 shares of the company’s stock after buying an additional 6,113 shares during the period. Synovus Financial Corp’s holdings in Fomento Económico Mexicano were worth $1,204,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Banque Cantonale Vaudoise acquired a new position in shares of Fomento Económico Mexicano during the 3rd quarter worth about $55,000. Van ECK Associates Corp raised its stake in Fomento Económico Mexicano by 61.7% in the third quarter. Van ECK Associates Corp now owns 802 shares of the company’s stock valued at $78,000 after buying an additional 306 shares during the period. Fielder Capital Group LLC acquired a new stake in shares of Fomento Económico Mexicano in the second quarter valued at approximately $242,000. Whittier Trust Co. of Nevada Inc. boosted its stake in shares of Fomento Económico Mexicano by 24.6% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 2,275 shares of the company’s stock worth $245,000 after acquiring an additional 449 shares during the period. Finally, SG Americas Securities LLC lifted its holdings in Fomento Económico Mexicano by 67.3% during the 2nd quarter. SG Americas Securities LLC now owns 2,862 shares of the company’s stock valued at $308,000 after purchasing an additional 1,151 shares during the last quarter. 61.00% of the stock is owned by institutional investors.

Fomento Económico Mexicano Price Performance

Shares of Fomento Económico Mexicano stock opened at $86.83 on Tuesday. 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 stock has a market capitalization of $31.07 billion, a price-to-earnings ratio of 22.26, a price-to-earnings-growth ratio of 5.23 and a beta of 0.90. Fomento Económico Mexicano, S.A.B. de C.V. has a twelve month low of $85.30 and a twelve month high of $143.43. The company has a 50-day simple moving average of $93.27 and a two-hundred day simple moving average of $102.46.

Fomento Económico Mexicano Cuts Dividend

The business also recently declared an annual dividend, which was paid on Monday, October 28th. Investors of record on Wednesday, October 16th were paid 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 dividend payout ratio (DPR) is currently 12.82%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on FMX shares. Barclays dropped their price objective on shares of Fomento Económico Mexicano from $125.00 to $118.00 and set an “overweight” rating on the stock 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. downgraded Fomento Económico Mexicano from an “overweight” rating to a “neutral” rating and upped their target price for the company from $104.00 to $109.00 in a research report on Monday, September 23rd. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $126.33.

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.