Stifel Financial Corp Acquires 149 Shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Stifel Financial Corp grew its stake in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) by 1.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,479 shares of the company’s stock after purchasing an additional 149 shares during the period. Stifel Financial Corp’s holdings in Fomento Económico Mexicano were worth $1,232,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Verition Fund Management LLC acquired a new stake in Fomento Económico Mexicano in the 3rd quarter valued at $2,807,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Fomento Económico Mexicano by 2.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 30,335 shares of the company’s stock valued at $2,994,000 after acquiring an additional 607 shares during the period. BNP Paribas Financial Markets boosted its stake in shares of Fomento Económico Mexicano by 107.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 326,302 shares of the company’s stock valued at $32,209,000 after purchasing an additional 169,184 shares in the last quarter. Quantbot Technologies LP grew its holdings in shares of Fomento Económico Mexicano by 333.7% in the 3rd quarter. Quantbot Technologies LP now owns 6,687 shares of the company’s stock worth $660,000 after purchasing an additional 5,145 shares during the last quarter. Finally, FMR LLC increased its position in shares of Fomento Económico Mexicano by 5.3% during the 3rd quarter. FMR LLC now owns 491,582 shares of the company’s stock worth $48,524,000 after purchasing an additional 24,537 shares in the last quarter. 61.00% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have commented on FMX. StockNews.com upgraded shares of Fomento Económico Mexicano from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th. Barclays reduced their target price on 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, JPMorgan Chase & Co. cut Fomento Económico Mexicano from an “overweight” rating to a “neutral” rating and raised their price target for the company from $104.00 to $109.00 in a report on Monday, September 23rd. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $126.33.

Fomento Económico Mexicano Trading Up 3.1 %

Shares of NYSE FMX opened at $87.30 on Monday. Fomento Económico Mexicano, S.A.B. de C.V. has a 1-year low of $84.49 and a 1-year high of $143.43. The company has a 50-day moving average of $92.33 and a two-hundred day moving average of $101.85. The company has a market cap of $31.23 billion, a PE ratio of 22.38, a P/E/G ratio of 5.23 and a beta of 0.90. 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 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 12.82%.

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.