Mirabella Financial Services LLP Acquires New Position in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Mirabella Financial Services LLP bought a new position in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 6,902 shares of the company’s stock, valued at approximately $681,000.

Several other large investors have also bought and sold shares of the company. Oldfield Partners LLP increased its holdings in Fomento Económico Mexicano by 0.8% in the 2nd quarter. Oldfield Partners LLP now owns 13,300 shares of the company’s stock worth $1,432,000 after buying an additional 100 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of Fomento Económico Mexicano by 8.9% during 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 during the last quarter. Baker Ellis Asset Management LLC grew its stake in shares of Fomento Económico Mexicano by 0.3% in the second quarter. Baker Ellis Asset Management LLC now owns 43,446 shares of the company’s stock worth $4,677,000 after acquiring an additional 140 shares during the period. Wealth Alliance raised its holdings in shares of Fomento Económico Mexicano by 4.4% during the second quarter. Wealth Alliance now owns 3,510 shares of the company’s stock valued at $378,000 after purchasing an additional 147 shares during the last quarter. Finally, Cerity Partners LLC lifted its position in Fomento Económico Mexicano by 2.0% during the third quarter. Cerity Partners LLC now owns 9,520 shares of the company’s stock valued at $940,000 after purchasing an additional 191 shares during the period.

Fomento Económico Mexicano Trading Up 1.6 %

Shares of Fomento Económico Mexicano stock opened at $88.50 on Tuesday. Fomento Económico Mexicano, S.A.B. de C.V. has a 1-year low of $86.13 and a 1-year high of $143.43. The company’s fifty day simple moving average is $96.70 and its 200-day simple moving average is $105.61. 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 capitalization of $31.66 billion, a PE ratio of 22.69, a P/E/G ratio of 5.10 and a beta of 0.94.

Fomento Económico Mexicano Cuts Dividend

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on FMX shares. JPMorgan Chase & Co. downgraded shares of 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 research report on Monday, September 23rd. StockNews.com raised Fomento Económico Mexicano from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. Finally, Barclays reduced their price objective 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 analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus 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.