Atria Investments Inc Sells 293 Shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Atria Investments Inc cut its position in shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) by 2.1% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,865 shares of the company’s stock after selling 293 shares during the quarter. Atria Investments Inc’s holdings in Fomento Económico Mexicano were worth $1,369,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new position in Fomento Económico Mexicano during the second quarter valued at $51,000. Van ECK Associates Corp boosted its stake in Fomento Económico Mexicano by 61.7% during the third quarter. Van ECK Associates Corp now owns 802 shares of the company’s stock worth $78,000 after acquiring an additional 306 shares in the last quarter. CWM LLC boosted its stake in Fomento Económico Mexicano by 28.7% during the second quarter. CWM LLC now owns 956 shares of the company’s stock worth $103,000 after acquiring an additional 213 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in Fomento Económico Mexicano by 8.9% in the first quarter. EverSource Wealth Advisors LLC now owns 1,279 shares of the company’s stock worth $167,000 after purchasing an additional 105 shares during the period. Finally, Contravisory Investment Management Inc. bought a new position in shares of Fomento Económico Mexicano during the second quarter valued at approximately $163,000.

Fomento Económico Mexicano Trading Down 1.2 %

Shares of NYSE:FMX opened at $90.08 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.72 and a quick ratio of 1.44. Fomento Económico Mexicano, S.A.B. de C.V. has a 1 year low of $90.00 and a 1 year high of $143.43. The company has a market cap of $32.23 billion, a P/E ratio of 23.10, a PEG ratio of 5.43 and a beta of 0.94. The stock’s fifty day moving average price is $98.42 and its 200-day moving average price is $107.09.

Fomento Económico Mexicano Cuts Dividend

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

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. JPMorgan Chase & Co. lowered Fomento Económico Mexicano from an “overweight” rating to a “neutral” rating and raised their price objective for the company from $104.00 to $109.00 in a research 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 dropped their price target 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 equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $128.25.

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.