Dynamic Technology Lab Private Ltd Increases Stake in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Dynamic Technology Lab Private Ltd increased its holdings in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) by 274.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 20,872 shares of the company’s stock after acquiring an additional 15,296 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in Fomento Económico Mexicano were worth $2,060,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Baillie Gifford & Co. boosted its position in Fomento Económico Mexicano by 10.8% during the 3rd quarter. Baillie Gifford & Co. now owns 4,306,739 shares of the company’s stock valued at $425,118,000 after acquiring an additional 421,057 shares in the last quarter. Black Creek Investment Management Inc. boosted its position in Fomento Económico Mexicano by 15.5% during the second quarter. Black Creek Investment Management Inc. now owns 906,798 shares of the company’s stock valued at $97,617,000 after purchasing an additional 121,800 shares in the last quarter. LA Financiere DE L Echiquier boosted its position in Fomento Económico Mexicano by 22.1% during the second quarter. LA Financiere DE L Echiquier now owns 776,241 shares of the company’s stock valued at $83,562,000 after purchasing an additional 140,309 shares in the last quarter. Perpetual Ltd grew its stake in Fomento Económico Mexicano by 9.4% in the third quarter. Perpetual Ltd now owns 746,826 shares of the company’s stock valued at $73,719,000 after purchasing an additional 64,291 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its holdings 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 worth $50,832,000 after purchasing an additional 416,000 shares in the last quarter.

Fomento Económico Mexicano Trading Up 1.6 %

NYSE FMX opened at $88.50 on Tuesday. Fomento Económico Mexicano, S.A.B. de C.V. has a 12-month low of $86.13 and a 12-month high of $143.43. The company has a fifty day simple moving average of $96.70 and a two-hundred day simple moving average of $105.61. The company has a current ratio of 1.72, a quick ratio of 1.44 and a debt-to-equity ratio of 0.36. The stock has a market cap of $31.66 billion, a P/E ratio of 22.69, a P/E/G ratio of 5.10 and a beta of 0.94.

Fomento Económico Mexicano Cuts Dividend

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

Analysts Set New Price Targets

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