FORA Capital LLC Sells 1,690 Shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

FORA Capital LLC trimmed its position in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) by 8.0% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 19,478 shares of the company’s stock after selling 1,690 shares during the period. FORA Capital LLC’s holdings in Fomento Económico Mexicano were worth $1,923,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in Fomento Económico Mexicano in the second quarter valued at about $51,000. Banque Cantonale Vaudoise acquired a new position in Fomento Económico Mexicano during the 3rd quarter valued at about $55,000. Van ECK Associates Corp boosted its stake in shares of Fomento Económico Mexicano by 61.7% in the 3rd quarter. Van ECK Associates Corp now owns 802 shares of the company’s stock valued at $78,000 after purchasing an additional 306 shares during the last quarter. CWM LLC grew its position in shares of 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 buying an additional 213 shares during the period. Finally, Contravisory Investment Management Inc. bought a new stake in shares of Fomento Económico Mexicano during the second quarter worth approximately $163,000.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on FMX. StockNews.com raised shares of Fomento Económico Mexicano from a “hold” rating to a “buy” rating in a research note on Wednesday, November 6th. JPMorgan Chase & Co. cut 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 note on Monday, September 23rd. Finally, Barclays cut their target price on Fomento Económico Mexicano from $125.00 to $118.00 and set an “overweight” rating on the stock in a research note 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 presently has an average rating of “Hold” and a consensus price target of $128.25.

Fomento Económico Mexicano Trading Down 2.0 %

Shares of NYSE FMX opened at $85.81 on Thursday. 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 twelve month low of $85.47 and a twelve month high of $143.43. The company’s fifty day moving average is $96.06 and its 200-day moving average is $105.24. The stock has a market cap of $30.70 billion, a price-to-earnings ratio of 22.00, a P/E/G ratio of 5.18 and a beta of 0.94.

Fomento Económico Mexicano Cuts Dividend

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