Atria Investments Inc Sells 293 Shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Atria Investments Inc cut its position in shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) by 2.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,865 shares of the company’s stock after selling 293 shares during the quarter. Atria Investments Inc’s holdings in Fomento Económico Mexicano were worth $1,369,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of FMX. Oldfield Partners LLP grew its position in Fomento Económico Mexicano by 0.8% during the second quarter. Oldfield Partners LLP now owns 13,300 shares of the company’s stock valued at $1,432,000 after acquiring an additional 100 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Fomento Económico Mexicano by 8.9% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,279 shares of the company’s stock valued at $167,000 after purchasing an additional 105 shares during the last quarter. Baker Ellis Asset Management LLC raised its position in Fomento Económico Mexicano by 0.3% in the 2nd quarter. Baker Ellis Asset Management LLC now owns 43,446 shares of the company’s stock worth $4,677,000 after purchasing an additional 140 shares during the period. Wealth Alliance lifted its stake in Fomento Económico Mexicano by 4.4% in the second quarter. Wealth Alliance now owns 3,510 shares of the company’s stock worth $378,000 after purchasing an additional 147 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. boosted its position in Fomento Económico Mexicano by 9.0% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 2,479 shares of the company’s stock valued at $245,000 after buying an additional 204 shares during the period.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on FMX shares. JPMorgan Chase & Co. downgraded Fomento Económico Mexicano from an “overweight” rating to a “neutral” rating and lifted their price objective for the stock from $104.00 to $109.00 in a report on Monday, September 23rd. StockNews.com upgraded Fomento Económico Mexicano from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th. Finally, Barclays cut their target price 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. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $128.25.

Fomento Económico Mexicano Price Performance

FMX opened at $90.08 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.44 and a current ratio of 1.72. The stock has a market capitalization of $32.23 billion, a PE ratio of 23.10, a price-to-earnings-growth ratio of 5.43 and a beta of 0.94. The stock’s 50 day moving average price is $98.42 and its 200-day moving average price is $107.09. Fomento Económico Mexicano, S.A.B. de C.V. has a 52-week low of $90.00 and a 52-week 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 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 dividend payout ratio (DPR) is presently 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.