3,739 Shares in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) Purchased by MQS Management LLC

MQS Management LLC acquired a new position in shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 3,739 shares of the company’s stock, valued at approximately $369,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Baillie Gifford & Co. grew its position in shares of Fomento Económico Mexicano by 10.8% in the 3rd quarter. Baillie Gifford & Co. now owns 4,306,739 shares of the company’s stock valued at $425,118,000 after purchasing an additional 421,057 shares during the period. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in Fomento Económico Mexicano by 740.2% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 472,200 shares of the company’s stock valued at $50,832,000 after purchasing an additional 416,000 shares during the last quarter. Millennium Management LLC raised its holdings in Fomento Económico Mexicano by 577.6% in the 2nd quarter. Millennium Management LLC now owns 222,464 shares of the company’s stock valued at $23,948,000 after acquiring an additional 189,632 shares during the period. Employees Retirement System of Texas boosted its stake in Fomento Económico Mexicano by 64.1% in the 2nd quarter. Employees Retirement System of Texas now owns 471,096 shares of the company’s stock valued at $50,713,000 after purchasing an additional 184,000 shares during the period. Finally, Zimmer Partners LP increased its position in Fomento Económico Mexicano by 377.8% during the first quarter. Zimmer Partners LP now owns 215,000 shares of the company’s stock worth $28,008,000 after acquiring an additional 170,000 shares during the period.

Fomento Económico Mexicano Price Performance

Fomento Económico Mexicano stock opened at $91.15 on Friday. The company has a market cap of $32.61 billion, a price-to-earnings ratio of 23.79, a PEG ratio of 5.45 and a beta of 0.94. The firm’s fifty day moving average is $98.87 and its 200 day moving average is $107.40. Fomento Económico Mexicano, S.A.B. de C.V. has a 52-week low of $90.91 and a 52-week high of $143.43. 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 Cuts Dividend

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

Wall Street Analysts Forecast Growth

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

Fomento Económico Mexicano Company 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.