Pitcairn Co. Lowers Holdings in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Pitcairn Co. decreased its holdings in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) by 9.5% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,994 shares of the company’s stock after selling 1,252 shares during the period. Pitcairn Co.’s holdings in Fomento Económico Mexicano were worth $1,184,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in shares of Fomento Económico Mexicano during the 2nd quarter valued at about $51,000. Banque Cantonale Vaudoise bought a new position in Fomento Económico Mexicano during the third quarter valued at approximately $55,000. Van ECK Associates Corp grew its holdings in Fomento Económico Mexicano by 61.7% during the 3rd quarter. Van ECK Associates Corp now owns 802 shares of the company’s stock valued at $78,000 after buying an additional 306 shares in the last quarter. CWM LLC increased its stake in Fomento Económico Mexicano by 28.7% in the 2nd quarter. CWM LLC now owns 956 shares of the company’s stock worth $103,000 after acquiring an additional 213 shares during the last quarter. Finally, Contravisory Investment Management Inc. purchased a new stake in shares of Fomento Económico Mexicano during the 2nd quarter worth approximately $163,000.

Fomento Económico Mexicano Price Performance

FMX stock opened at $87.14 on Monday. The stock has a market cap of $31.18 billion, a PE ratio of 22.34, a P/E/G ratio of 5.07 and a beta of 0.94. 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 50-day moving average price of $97.00 and a 200 day moving average price of $105.84. The company has a current ratio of 1.72, a quick ratio of 1.44 and a debt-to-equity ratio of 0.36.

Fomento Económico Mexicano Cuts Dividend

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

Analyst Ratings Changes

Several equities research analysts recently weighed in on FMX shares. JPMorgan Chase & Co. cut shares of Fomento Económico Mexicano from an “overweight” rating to a “neutral” rating and boosted their price target for the stock from $104.00 to $109.00 in a research report on Monday, September 23rd. StockNews.com upgraded shares of Fomento Económico Mexicano from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th. Finally, Barclays dropped their price target 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 issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Fomento Económico Mexicano has an average rating of “Hold” and a consensus price target of $128.25.

Fomento Económico Mexicano 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.