National Bank of Canada FI Lowers Position in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

National Bank of Canada FI trimmed its position in shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) by 93.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,458 shares of the company’s stock after selling 202,308 shares during the quarter. National Bank of Canada FI’s holdings in Fomento Económico Mexicano were worth $1,427,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in FMX. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Fomento Económico Mexicano during the third quarter worth about $7,672,000. Klein Pavlis & Peasley Financial Inc. increased its holdings in Fomento Económico Mexicano by 29.6% during the second quarter. Klein Pavlis & Peasley Financial Inc. now owns 24,105 shares of the company’s stock worth $2,595,000 after buying an additional 5,505 shares during the last quarter. BNP Paribas Financial Markets raised its position in Fomento Económico Mexicano by 107.7% in the third quarter. BNP Paribas Financial Markets now owns 326,302 shares of the company’s stock worth $32,209,000 after acquiring an additional 169,184 shares during the period. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in Fomento Económico Mexicano by 740.2% in 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 acquiring an additional 416,000 shares during the last quarter. Finally, Perpetual Ltd grew its position in shares of Fomento Económico Mexicano by 9.4% during the 3rd quarter. Perpetual Ltd now owns 746,826 shares of the company’s stock valued at $73,719,000 after acquiring an additional 64,291 shares during the period. Institutional investors own 61.00% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on FMX shares. StockNews.com upgraded Fomento Económico Mexicano from a “hold” rating to a “buy” rating in a research note on Wednesday, November 6th. Barclays dropped their price target 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. Finally, JPMorgan Chase & Co. cut 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 report on Monday, September 23rd. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $126.33.

Fomento Económico Mexicano Stock Up 0.1 %

Shares of NYSE:FMX opened at $88.68 on Friday. The firm has a fifty day moving average price of $93.52 and a two-hundred day moving average price of $102.76. The company has a market cap of $31.73 billion, a price-to-earnings ratio of 22.74, a PEG ratio of 5.23 and a beta of 0.90. 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 $85.30 and a one year high of $143.43.

Fomento Económico Mexicano Cuts Dividend

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

About Fomento Económico Mexicano

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.