Oppenheimer Asset Management Inc. Decreases Stake in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Oppenheimer Asset Management Inc. lessened its stake in shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) by 0.8% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 48,654 shares of the company’s stock after selling 409 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Fomento Económico Mexicano were worth $4,803,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in FMX. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in Fomento Económico Mexicano during the 2nd quarter valued at $51,000. Van ECK Associates Corp grew its stake in shares of 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 during 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 valued at $103,000 after purchasing an additional 213 shares during the period. Contravisory Investment Management Inc. bought a new position in Fomento Económico Mexicano during the 2nd quarter valued at approximately $163,000. Finally, EverSource Wealth Advisors LLC lifted its holdings in Fomento Económico Mexicano by 8.9% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,279 shares of the company’s stock worth $167,000 after buying an additional 105 shares during the period.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on FMX. Barclays reduced 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. JPMorgan Chase & Co. lowered shares of Fomento Económico Mexicano from an “overweight” rating to a “neutral” rating and upped their price objective for the stock from $104.00 to $109.00 in a report 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 equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $128.25.

Fomento Económico Mexicano Price Performance

FMX opened at $91.15 on Friday. Fomento Económico Mexicano, S.A.B. de C.V. has a 12-month low of $90.91 and a 12-month high of $143.43. The company has a market cap of $32.61 billion, a price-to-earnings ratio of 23.37, a price-to-earnings-growth ratio of 5.45 and a beta of 0.94. 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 fifty day simple moving average of $98.87 and a two-hundred day simple moving average of $107.40.

Fomento Económico Mexicano Cuts Dividend

The firm also recently declared an annual dividend, which was paid on Monday, October 28th. Investors of record on Wednesday, October 16th were given a dividend of $0.864 per share. 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 currently 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.