FORA Capital LLC Sells 1,690 Shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

FORA Capital LLC cut its position in shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) by 8.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,478 shares of the company’s stock after selling 1,690 shares during the quarter. FORA Capital LLC’s holdings in Fomento Económico Mexicano were worth $1,923,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in FMX. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in shares of Fomento Económico Mexicano in the second quarter valued at $51,000. Banque Cantonale Vaudoise bought a new position in shares of Fomento Económico Mexicano during the 3rd quarter worth about $55,000. Van ECK Associates Corp boosted its position in shares of Fomento Económico Mexicano by 61.7% during the 3rd quarter. Van ECK Associates Corp now owns 802 shares of the company’s stock valued at $78,000 after acquiring an additional 306 shares in the last quarter. CWM LLC raised its position in Fomento Económico Mexicano by 28.7% in the second quarter. CWM LLC now owns 956 shares of the company’s stock worth $103,000 after purchasing an additional 213 shares in the last quarter. Finally, Contravisory Investment Management Inc. bought a new position in Fomento Económico Mexicano during the second quarter worth about $163,000.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. StockNews.com raised Fomento Económico Mexicano from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. JPMorgan Chase & Co. lowered Fomento Económico Mexicano from an “overweight” rating to a “neutral” rating and increased their price objective for the stock from $104.00 to $109.00 in a research note on Monday, September 23rd. Finally, Barclays reduced 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 research note on Wednesday, October 30th. Four investment 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, the stock presently has an average rating of “Hold” and a consensus target price of $128.25.

Fomento Económico Mexicano Stock Down 2.0 %

NYSE FMX opened at $85.81 on Thursday. The stock’s 50 day simple moving average is $96.06 and its 200 day simple moving average is $105.24. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.72 and a quick ratio of 1.44. Fomento Económico Mexicano, S.A.B. de C.V. has a one year low of $85.47 and a one year high of $143.43. The firm has a market cap of $30.70 billion, a PE ratio of 22.00, a price-to-earnings-growth ratio of 5.18 and a beta of 0.94.

Fomento Económico Mexicano Cuts Dividend

The firm also recently announced an annual dividend, which was paid on Monday, October 28th. Stockholders of record on Wednesday, October 16th were paid a $0.864 dividend. The ex-dividend date was Wednesday, October 16th. This represents a dividend 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.