Thrivent Financial for Lutherans Reduces Stock Holdings in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Thrivent Financial for Lutherans reduced its position in shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) by 52.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,248 shares of the company’s stock after selling 2,494 shares during the period. Thrivent Financial for Lutherans’ holdings in Fomento Económico Mexicano were worth $222,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. CWM LLC raised its position in shares of Fomento Económico Mexicano by 28.7% during the 2nd quarter. CWM LLC now owns 956 shares of the company’s stock valued at $103,000 after buying an additional 213 shares during the period. Manning & Napier Advisors LLC purchased a new stake in Fomento Económico Mexicano in the second quarter valued at $2,994,000. OLD National Bancorp IN lifted 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 valued at $214,000 after purchasing an additional 338 shares during the last quarter. SG Americas Securities LLC grew its holdings in shares of Fomento Económico Mexicano by 67.3% during the 2nd quarter. SG Americas Securities LLC now owns 2,862 shares of the company’s stock worth $308,000 after purchasing an additional 1,151 shares during the period. Finally, Sequoia Financial Advisors LLC grew its holdings in shares of Fomento Económico Mexicano by 10.9% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 6,606 shares of the company’s stock worth $711,000 after purchasing an additional 647 shares during the period.

Fomento Económico Mexicano Price Performance

Shares of FMX opened at $90.83 on Friday. Fomento Económico Mexicano, S.A.B. de C.V. has a fifty-two week low of $85.30 and a fifty-two week high of $143.43. The firm’s 50 day moving average price is $94.67 and its 200 day moving average price is $104.02. 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 company has a market cap of $32.50 billion, a P/E ratio of 23.29, a PEG ratio of 5.23 and a beta of 0.90.

Fomento Económico Mexicano Cuts Dividend

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

Analyst Upgrades and Downgrades

A number of research analysts have commented on FMX shares. JPMorgan Chase & Co. cut shares of 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. Barclays decreased 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 report on Wednesday, October 30th. Finally, StockNews.com raised shares of Fomento Económico Mexicano from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $128.25.

Fomento Económico Mexicano Company 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.