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

Stifel Financial Corp raised its stake in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) by 1.2% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 12,479 shares of the company’s stock after buying an additional 149 shares during the period. Stifel Financial Corp’s holdings in Fomento Económico Mexicano were worth $1,232,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of FMX. Baillie Gifford & Co. increased its stake in Fomento Económico Mexicano by 10.8% in the third quarter. Baillie Gifford & Co. now owns 4,306,739 shares of the company’s stock valued at $425,118,000 after purchasing an additional 421,057 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in shares of Fomento Económico Mexicano by 740.2% in the 2nd 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 period. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Fomento Económico Mexicano by 267.6% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 313,602 shares of the company’s stock valued at $30,956,000 after buying an additional 228,284 shares in the last quarter. Millennium Management LLC raised its stake in Fomento Económico Mexicano by 577.6% during the 2nd quarter. Millennium Management LLC now owns 222,464 shares of the company’s stock worth $23,948,000 after buying an additional 189,632 shares during the period. Finally, Employees Retirement System of Texas lifted its holdings in Fomento Económico Mexicano by 64.1% during the second quarter. Employees Retirement System of Texas now owns 471,096 shares of the company’s stock worth $50,713,000 after acquiring an additional 184,000 shares in the last quarter. 61.00% of the stock is currently owned by institutional investors and hedge funds.

Fomento Económico Mexicano Price Performance

NYSE:FMX opened at $87.30 on Monday. The stock’s 50-day simple moving average is $92.33 and its 200 day simple moving average is $101.85. Fomento Económico Mexicano, S.A.B. de C.V. has a 52-week low of $84.49 and a 52-week high of $143.43. 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 company has a market cap of $31.23 billion, a P/E ratio of 22.38, a P/E/G ratio of 5.23 and a beta of 0.90.

Fomento Económico Mexicano Cuts Dividend

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

Analyst Ratings Changes

Several analysts have commented on the stock. JPMorgan Chase & Co. downgraded shares of Fomento Económico Mexicano from an “overweight” rating to a “neutral” rating and raised their target price 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 note on Wednesday, November 6th. Finally, Barclays decreased their price target on shares of Fomento Económico Mexicano from $125.00 to $118.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Fomento Económico Mexicano presently has an average rating of “Moderate Buy” and a consensus target price of $126.33.

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.