Healthcare of Ontario Pension Plan Trust Fund Decreases Holdings in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Healthcare of Ontario Pension Plan Trust Fund trimmed its position in shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) by 67.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 153,300 shares of the company’s stock after selling 318,900 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Fomento Económico Mexicano were worth $15,132,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new stake in shares of Fomento Económico Mexicano in the 2nd quarter worth approximately $51,000. Banque Cantonale Vaudoise purchased a new stake in Fomento Económico Mexicano during the third quarter valued at $55,000. Van ECK Associates Corp increased its position in Fomento Económico Mexicano by 61.7% during the third quarter. Van ECK Associates Corp now owns 802 shares of the company’s stock valued at $78,000 after acquiring an additional 306 shares during the last quarter. CWM LLC increased its position in Fomento Económico Mexicano by 28.7% during the second quarter. CWM LLC now owns 956 shares of the company’s stock valued at $103,000 after acquiring an additional 213 shares during the last quarter. Finally, Contravisory Investment Management Inc. purchased a new stake in Fomento Económico Mexicano during the second quarter valued at $163,000.

Analysts Set New Price Targets

A number of research firms have recently weighed in on FMX. StockNews.com raised Fomento Económico Mexicano from a “hold” rating to a “buy” rating in a research note on Wednesday, November 6th. JPMorgan Chase & Co. downgraded shares of Fomento Económico Mexicano from an “overweight” rating to a “neutral” rating and boosted their target price for the stock from $104.00 to $109.00 in a report on Monday, September 23rd. Finally, Barclays decreased their price target on Fomento Económico Mexicano from $125.00 to $118.00 and set an “overweight” rating on the stock in a report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $128.25.

Fomento Económico Mexicano Stock Performance

Shares of Fomento Económico Mexicano stock opened at $85.81 on Friday. The stock’s fifty day moving average is $95.73 and its two-hundred day moving average is $105.11. The company has a market capitalization 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. The company has a quick ratio of 1.44, a current ratio of 1.72 and a debt-to-equity ratio of 0.36. Fomento Económico Mexicano, S.A.B. de C.V. has a 52 week low of $85.47 and a 52 week high of $143.43.

Fomento Económico Mexicano Cuts Dividend

The firm also recently disclosed an annual dividend, which was paid on Monday, October 28th. Shareholders of record on Wednesday, October 16th were given a $0.864 dividend. This represents a yield of 0.87%. The ex-dividend date was Wednesday, October 16th. Fomento Económico Mexicano’s dividend payout ratio (DPR) is presently 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.