Captrust Financial Advisors Cuts Holdings in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Captrust Financial Advisors decreased its position in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) by 5.5% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 21,983 shares of the company’s stock after selling 1,268 shares during the period. Captrust Financial Advisors’ holdings in Fomento Económico Mexicano were worth $2,170,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of FMX. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in shares of Fomento Económico Mexicano during the second quarter valued at approximately $51,000. Banque Cantonale Vaudoise purchased a new stake in shares of Fomento Económico Mexicano during the 3rd quarter valued at $55,000. Van ECK Associates Corp raised its stake 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 worth $78,000 after purchasing an additional 306 shares during the period. CWM LLC boosted its holdings in shares of Fomento Económico Mexicano by 28.7% in the 2nd quarter. CWM LLC now owns 956 shares of the company’s stock worth $103,000 after buying an additional 213 shares during the last quarter. Finally, OLD National Bancorp IN grew its position in shares of Fomento Económico Mexicano by 20.4% during the 2nd quarter. OLD National Bancorp IN now owns 1,991 shares of the company’s stock valued at $214,000 after acquiring an additional 338 shares during the period.

Fomento Económico Mexicano Trading Up 1.3 %

Shares of FMX stock opened at $91.88 on Friday. 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 $32.87 billion, a P/E ratio of 23.56, a price-to-earnings-growth ratio of 5.23 and a beta of 0.90. The business has a 50-day moving average price of $94.67 and a two-hundred day moving average price of $104.02. Fomento Económico Mexicano, S.A.B. de C.V. has a 12-month low of $85.30 and a 12-month high of $143.43.

Fomento Económico Mexicano Cuts Dividend

The business 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. This represents a dividend yield of 0.87%. The ex-dividend date of this dividend was Wednesday, October 16th. Fomento Económico Mexicano’s dividend payout ratio (DPR) is presently 12.82%.

Analysts Set New Price Targets

Several research firms have recently weighed in on FMX. JPMorgan Chase & Co. downgraded shares of Fomento Económico Mexicano from an “overweight” rating to a “neutral” rating and lifted their target price for the stock from $104.00 to $109.00 in a research note on Monday, September 23rd. Barclays dropped their target price on Fomento Económico Mexicano from $125.00 to $118.00 and set an “overweight” rating on the stock 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 assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price 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.