Dynamic Technology Lab Private Ltd Grows Position in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Dynamic Technology Lab Private Ltd raised its position in shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) by 274.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,872 shares of the company’s stock after acquiring an additional 15,296 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in Fomento Económico Mexicano were worth $2,060,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new position in Fomento Económico Mexicano in the second quarter worth about $51,000. Banque Cantonale Vaudoise bought a new stake in shares of Fomento Económico Mexicano in the 3rd quarter valued at approximately $55,000. Van ECK Associates Corp boosted its holdings in shares of Fomento Económico Mexicano by 61.7% in 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 period. CWM LLC increased its position in shares of Fomento Económico Mexicano by 28.7% during the 2nd quarter. CWM LLC now owns 956 shares of the company’s stock valued at $103,000 after purchasing an additional 213 shares during the last quarter. Finally, Contravisory Investment Management Inc. purchased a new stake in Fomento Económico Mexicano during the 2nd quarter valued at $163,000.

Analyst Ratings Changes

Several research analysts have commented on FMX shares. JPMorgan Chase & Co. lowered shares of Fomento Económico Mexicano from an “overweight” rating to a “neutral” rating and lifted their price objective for the stock from $104.00 to $109.00 in a research note on Monday, September 23rd. StockNews.com upgraded shares of Fomento Económico Mexicano from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. Finally, Barclays cut 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 report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Fomento Económico Mexicano currently has a consensus rating of “Hold” and an average price target of $128.25.

Fomento Económico Mexicano Trading Up 1.6 %

NYSE FMX opened at $88.50 on Tuesday. Fomento Económico Mexicano, S.A.B. de C.V. has a 12 month low of $86.13 and a 12 month high of $143.43. The company’s 50-day moving average price is $96.70 and its 200-day moving average price is $105.61. The stock has a market cap of $31.66 billion, a PE ratio of 22.69, a PEG ratio of 5.10 and a beta of 0.94. The company has a current ratio of 1.72, a quick ratio of 1.44 and a debt-to-equity ratio of 0.36.

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 paid 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 dividend payout ratio is presently 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.