Caprock Group LLC Buys New Shares in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Caprock Group LLC bought a new position in shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 7,905 shares of the company’s stock, valued at approximately $780,000.

A number of other large investors have also bought and sold shares of FMX. Manning & Napier Advisors LLC bought a new position in shares of Fomento Económico Mexicano in the 2nd quarter worth $2,994,000. Klein Pavlis & Peasley Financial Inc. lifted its stake in shares of Fomento Económico Mexicano by 29.6% in the second quarter. Klein Pavlis & Peasley Financial Inc. now owns 24,105 shares of the company’s stock valued at $2,595,000 after buying an additional 5,505 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in shares of Fomento Económico Mexicano by 740.2% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 472,200 shares of the company’s stock valued at $50,832,000 after buying an additional 416,000 shares during the last quarter. Perpetual Ltd increased its position in shares of Fomento Económico Mexicano by 9.4% during the third quarter. Perpetual Ltd now owns 746,826 shares of the company’s stock worth $73,719,000 after acquiring an additional 64,291 shares in the last quarter. Finally, SG Americas Securities LLC raised its stake in shares of Fomento Económico Mexicano by 67.3% in the second 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 last quarter.

Fomento Económico Mexicano Trading Down 0.3 %

NYSE FMX opened at $86.64 on Friday. The business’s fifty day moving average is $97.35 and its 200-day moving average is $106.26. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.72 and a quick ratio of 1.44. The stock has a market capitalization of $31.00 billion, a price-to-earnings ratio of 22.22, a PEG ratio of 5.23 and a beta of 0.94. Fomento Económico Mexicano, S.A.B. de C.V. has a one year low of $86.13 and a one year high of $143.43.

Fomento Económico Mexicano Cuts Dividend

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

Analyst Upgrades and Downgrades

A number of research firms have issued reports on FMX. Barclays cut 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. JPMorgan Chase & Co. lowered shares of 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 research report on Monday, September 23rd. Finally, StockNews.com upgraded shares of Fomento Económico Mexicano from a “hold” rating to a “buy” rating in a research note on Wednesday, November 6th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $128.25.

Fomento Económico Mexicano 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.