28,438 Shares in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) Bought by Verition Fund Management LLC

Verition Fund Management LLC acquired a new position in shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 28,438 shares of the company’s stock, valued at approximately $2,807,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in Fomento Económico Mexicano during the 2nd quarter worth $51,000. Banque Cantonale Vaudoise bought a new position in Fomento Económico Mexicano during the 3rd quarter worth $55,000. Van ECK Associates Corp boosted its position in Fomento Económico Mexicano by 61.7% during the 3rd quarter. Van ECK Associates Corp now owns 802 shares of the company’s stock worth $78,000 after acquiring an additional 306 shares during the period. CWM LLC boosted its position in Fomento Económico Mexicano by 28.7% during the 2nd quarter. CWM LLC now owns 956 shares of the company’s stock worth $103,000 after acquiring an additional 213 shares during the period. Finally, OLD National Bancorp IN boosted its position in Fomento Económico Mexicano by 20.4% during the 2nd quarter. OLD National Bancorp IN now owns 1,991 shares of the company’s stock worth $214,000 after acquiring an additional 338 shares during the period.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on FMX shares. JPMorgan Chase & Co. lowered Fomento Económico Mexicano from an “overweight” rating to a “neutral” rating and boosted their price target for the stock from $104.00 to $109.00 in a research report on Monday, September 23rd. Barclays reduced their price target on Fomento Económico Mexicano from $125.00 to $118.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. Finally, StockNews.com upgraded Fomento Económico Mexicano from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $128.25.

Fomento Económico Mexicano Trading Up 1.6 %

Shares of Fomento Económico Mexicano stock opened at $90.69 on Thursday. The company has a quick ratio of 1.44, a current ratio of 1.72 and a debt-to-equity ratio of 0.36. The firm has a market cap of $32.45 billion, a price-to-earnings ratio of 23.25, a price-to-earnings-growth ratio of 5.13 and a beta of 0.90. The business has a fifty day simple moving average of $94.85 and a 200-day simple moving average of $104.11. Fomento Económico Mexicano, S.A.B. de C.V. has a fifty-two week low of $85.30 and a fifty-two week high of $143.43.

Fomento Económico Mexicano Cuts Dividend

The company also recently disclosed an annual dividend, which was paid on Monday, October 28th. Stockholders of record on Wednesday, October 16th were issued 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 12.82%.

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.