OLD National Bancorp IN increased its stake in Fomento Económico Mexicano, SAB de CV (NYSE:FMX – Free Report) by 20.4% during the second quarter, according to the company in its most recent disclosure with the SEC. The company owned 1,991 shares of the company’s stock after acquiring an additional 338 shares during the quarter. OLD National Bancorp IN’s holdings in Fomento Económico Mexicano were worth $214,000, according to the company’s most recent filing with the SEC.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. EverSource Wealth Advisors LLC increased its holdings in shares of Fomento Económico Mexicano by 6.5% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,174 shares of the company’s stock valued at $153,000 after buying an additional 72 shares in the last quarter. Park Place Capital Corp increased its holdings in Fomento Económico Mexicano by 78.2% in the 1st quarter. Park Place Capital Corp now owns 221 shares of the company’s stock valued at $29,000 after buying an additional 97 shares in the last quarter. Van ECK Associates Corp increased its holdings in shares of Fomento Económico Mexicano by 48.6% in the 4th quarter. Van ECK Associates Corp now owns 318 shares of the company’s stock valued at $41,000 after purchasing an additional 104 shares in the last quarter. Solstein Capital LLC increased its stake in shares of Fomento Económico Mexicano by 0.4% in the first quarter. Solstein Capital LLC now owns 28,372 shares of the company’s stock valued at $3,696,000 after acquiring an additional 118 shares in the last quarter. Finally, Parallel Advisors LLC increased its stake in shares of Fomento Económico Mexicano by 22.1% in the fourth quarter. Parallel Advisors LLC now owns 741 shares of the company’s stock valued at $97,000 after acquiring an additional 134 shares in the last quarter.
Fomento Económico Mexicano price development
FMX opened at $111.82 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. The company’s 50-day moving average is $110.31 and its 200-day moving average is $120.43. Fomento Económico Mexicano, SAB de CV has a one year low of $99.24 and a one year high of $143.43. The stock has a market cap of $40.01 billion, a P/E ratio of 30.30, a price-to-earnings-growth ratio of 4.08 and a beta of 0.94.
Fomento Económico Mexicano increases dividend
The company also recently announced a semi-annual dividend, which was paid on Monday, July 29th. Shareholders of record on Wednesday, July 17th were paid a dividend of $1.0206. This is an increase from Fomento Económico Mexicano’s previous semi-annual dividend of $0.74. This represents a dividend yield of 1.5%. The ex-dividend date of this dividend was Wednesday, July 17th. Fomento Económico Mexicano’s dividend payout ratio (DPR) is 14.36%.
Upgrades and downgrades by analysts
Separately, Barclays lowered their price target on Fomento Económico Mexicano from $160.00 to $145.00 and gave the company an “overweight” rating in a report on Monday, July 15. Five analysts have rated the stock with a “hold” rating and two have given it a “buy” rating. According to MarketBeat.com, the company currently has an average rating of “hold” and an average price target of $139.50.
Read our latest stock analysis on FMX
About Fomento Económico Mexicano
(Free report)
Fomento Económico Mexicano, SAB. de CV, through its subsidiaries, operates as a bottler of Coca-Cola branded beverages. The company produces, markets and distributes Coca-Cola branded beverages in Mexico, Guatemala, Nicaragua, Costa Rica, Panama, Colombia, Venezuela, Brazil, Argentina and Uruguay.
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