ABS Direct Equity Fund LLC Has $7.67 Million Stake in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

ABS Direct Equity Fund LLC decreased its position in shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) by 7.5% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 77,700 shares of the company’s stock after selling 6,300 shares during the period. Fomento Económico Mexicano makes up about 8.5% of ABS Direct Equity Fund LLC’s investment portfolio, making the stock its 2nd largest position. ABS Direct Equity Fund LLC’s holdings in Fomento Económico Mexicano were worth $7,670,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in FMX. CWM LLC grew its stake in shares of Fomento Económico Mexicano by 28.7% during the second quarter. CWM LLC now owns 956 shares of the company’s stock valued at $103,000 after buying an additional 213 shares during the last quarter. SG Americas Securities LLC grew its position in Fomento Económico Mexicano by 67.3% in the 2nd quarter. SG Americas Securities LLC now owns 2,862 shares of the company’s stock valued at $308,000 after acquiring an additional 1,151 shares during the last quarter. Sequoia Financial Advisors LLC increased its stake in Fomento Económico Mexicano by 10.9% in the second quarter. Sequoia Financial Advisors LLC now owns 6,606 shares of the company’s stock worth $711,000 after purchasing an additional 647 shares during the period. Deltec Asset Management LLC lifted its position in shares of Fomento Económico Mexicano by 13.5% during the second quarter. Deltec Asset Management LLC now owns 15,600 shares of the company’s stock worth $1,679,000 after purchasing an additional 1,850 shares during the last quarter. Finally, Northcape Capital Pty Ltd boosted its stake in shares of Fomento Económico Mexicano by 2.3% during the second quarter. Northcape Capital Pty Ltd now owns 343,044 shares of the company’s stock valued at $36,929,000 after purchasing an additional 7,638 shares during the period. Hedge funds and other institutional investors own 61.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Barclays decreased 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 report on Wednesday, October 30th. JPMorgan Chase & Co. downgraded shares of Fomento Económico Mexicano from an “overweight” rating to a “neutral” rating and lifted their price target for the company from $104.00 to $109.00 in a research note on Monday, September 23rd. Finally, StockNews.com raised Fomento Económico Mexicano from a “hold” rating to a “buy” rating in a research note on Wednesday, November 6th. Three 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.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $126.33.

Fomento Económico Mexicano Stock Down 0.1 %

Shares of Fomento Económico Mexicano stock opened at $90.72 on Tuesday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.72 and a quick ratio of 1.44. The stock has a market cap of $32.46 billion, a price-to-earnings ratio of 23.26, a PEG ratio of 5.32 and a beta of 0.90. The firm’s 50-day moving average is $94.33 and its two-hundred day moving average is $103.45. Fomento Económico Mexicano, S.A.B. de C.V. has a 1 year low of $85.30 and a 1 year high of $143.43.

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%.

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.