BNP Paribas Financial Markets Raises Stake in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

BNP Paribas Financial Markets increased its stake in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) by 107.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 326,302 shares of the company’s stock after buying an additional 169,184 shares during the period. BNP Paribas Financial Markets’ holdings in Fomento Económico Mexicano were worth $32,209,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in Fomento Económico Mexicano in the 2nd quarter worth about $51,000. Banque Cantonale Vaudoise purchased a new stake in shares of Fomento Económico Mexicano in the third quarter valued at approximately $55,000. Van ECK Associates Corp grew its stake in Fomento Económico Mexicano by 61.7% in the third quarter. Van ECK Associates Corp now owns 802 shares of the company’s stock worth $78,000 after purchasing an additional 306 shares in the last quarter. CWM LLC increased its holdings 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 purchasing an additional 213 shares during the period. Finally, Contravisory Investment Management Inc. bought a new stake in Fomento Económico Mexicano during the 2nd quarter valued at $163,000.

Fomento Económico Mexicano Trading Up 4.2 %

Shares of Fomento Económico Mexicano stock opened at $89.39 on Friday. The firm has a 50-day simple moving average of $95.53 and a two-hundred day simple moving average of $104.88. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.44 and a current ratio of 1.72. 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. The company has a market cap of $31.98 billion, a P/E ratio of 22.92, a price-to-earnings-growth ratio of 5.03 and a beta of 0.94.

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 given 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%.

Analyst Upgrades and Downgrades

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

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.