Easterly Investment Partners LLC Has $9.98 Million Position in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Easterly Investment Partners LLC grew its stake in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) by 481.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 101,123 shares of the company’s stock after purchasing an additional 83,726 shares during the period. Easterly Investment Partners LLC’s holdings in Fomento Económico Mexicano were worth $9,982,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in Fomento Económico Mexicano in the 2nd quarter valued at approximately $51,000. Van ECK Associates Corp raised 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 worth $78,000 after purchasing an additional 306 shares during the last quarter. CWM LLC raised its holdings in Fomento Económico Mexicano by 28.7% during the 2nd quarter. CWM LLC now owns 956 shares of the company’s stock worth $103,000 after purchasing an additional 213 shares during the last quarter. Contravisory Investment Management Inc. bought a new position in Fomento Económico Mexicano during the 2nd quarter worth approximately $163,000. Finally, EverSource Wealth Advisors LLC raised its holdings in Fomento Económico Mexicano by 8.9% during the 1st 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 last quarter.

Fomento Económico Mexicano Stock Down 0.0 %

NYSE FMX traded down $0.01 during mid-day trading on Friday, hitting $97.00. The company’s stock had a trading volume of 127,225 shares, compared to its average volume of 683,769. The company’s 50 day simple moving average is $99.61 and its 200 day simple moving average is $108.16. Fomento Económico Mexicano, S.A.B. de C.V. has a twelve month low of $93.32 and a twelve month high of $143.43. 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 firm has a market capitalization of $34.71 billion, a price-to-earnings ratio of 24.89, a PEG ratio of 5.52 and a beta of 0.94.

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 $0.864 dividend. This represents a yield of 0.87%. The ex-dividend date was Wednesday, October 16th. Fomento Económico Mexicano’s payout ratio is currently 12.82%.

Analysts Set New Price Targets

Several research firms have issued reports on FMX. Barclays lowered their price target 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. StockNews.com upgraded shares of Fomento Económico Mexicano from a “hold” rating to a “buy” rating in a report on Wednesday. Finally, JPMorgan Chase & Co. lowered shares of Fomento Económico Mexicano from an “overweight” rating to a “neutral” rating and raised their price target for the stock from $104.00 to $109.00 in a report on Monday, September 23rd. 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, the company currently has a consensus rating of “Hold” and an average target price 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.