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

Oppenheimer Asset Management Inc. reduced its stake in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) by 0.8% during the third quarter, HoldingsChannel reports. The fund owned 48,654 shares of the company’s stock after selling 409 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Fomento Económico Mexicano were worth $4,803,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in Fomento Económico Mexicano in the 2nd quarter worth about $51,000. Van ECK Associates Corp lifted 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 buying an additional 306 shares in the last quarter. CWM LLC grew its holdings 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. Contravisory Investment Management Inc. purchased a new position in Fomento Económico Mexicano in the 2nd quarter worth approximately $163,000. Finally, EverSource Wealth Advisors LLC lifted its position 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 valued at $167,000 after acquiring an additional 105 shares in the last quarter.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. JPMorgan Chase & Co. lowered Fomento Económico Mexicano from an “overweight” rating to a “neutral” rating and lifted their target price for the stock from $104.00 to $109.00 in a report on Monday, September 23rd. StockNews.com upgraded Fomento Económico Mexicano from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. Finally, Barclays lowered their target price on shares of 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 analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Fomento Económico Mexicano presently has an average rating of “Hold” and an average target price of $128.25.

Fomento Económico Mexicano Stock Down 1.7 %

Fomento Económico Mexicano stock opened at $91.15 on Friday. The stock has a market cap of $32.61 billion, a PE ratio of 23.37, a price-to-earnings-growth ratio of 5.45 and a beta of 0.94. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.44 and a current ratio of 1.72. The stock has a fifty day moving average of $98.87 and a 200 day moving average of $107.40. Fomento Económico Mexicano, S.A.B. de C.V. has a one year low of $90.91 and a one 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. Investors of record on Wednesday, October 16th were issued a $0.864 dividend. This represents a dividend yield of 0.87%. The ex-dividend date was Wednesday, October 16th. Fomento Económico Mexicano’s payout ratio is 12.82%.

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.