Crossmark Global Holdings Inc. Sells 5,038 Shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Crossmark Global Holdings Inc. reduced its holdings in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) by 21.3% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 18,665 shares of the company’s stock after selling 5,038 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Fomento Económico Mexicano were worth $1,843,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Janney Montgomery Scott LLC bought a new position in Fomento Económico Mexicano during the 1st quarter worth $350,000. QRG Capital Management Inc. raised its position in shares of Fomento Económico Mexicano by 13.0% during the first quarter. QRG Capital Management Inc. now owns 5,774 shares of the company’s stock worth $752,000 after acquiring an additional 665 shares during the last quarter. Cumberland Partners Ltd lifted its stake in shares of Fomento Económico Mexicano by 26.9% in the first quarter. Cumberland Partners Ltd now owns 16,500 shares of the company’s stock worth $2,149,000 after acquiring an additional 3,500 shares during the period. Councilmark Asset Management LLC bought a new stake in Fomento Económico Mexicano in the first quarter valued at approximately $1,155,000. Finally, O Shaughnessy Asset Management LLC increased its position in Fomento Económico Mexicano by 4.1% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 44,174 shares of the company’s stock valued at $5,755,000 after purchasing an additional 1,759 shares during the period.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on FMX. JPMorgan Chase & Co. downgraded shares of Fomento Económico Mexicano from an “overweight” rating to a “neutral” rating and boosted their price target for the stock from $104.00 to $109.00 in a research report on Monday, September 23rd. Barclays lowered their target price on shares of Fomento Económico Mexicano from $125.00 to $118.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. Finally, StockNews.com raised shares of Fomento Económico Mexicano from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $128.25.

Fomento Económico Mexicano Stock Performance

Shares of FMX stock opened at $93.14 on Wednesday. The firm has a 50 day moving average of $99.23 and a 200-day moving average of $107.68. The company has a market cap of $33.32 billion, a price-to-earnings ratio of 24.68, a price-to-earnings-growth ratio of 5.67 and a beta of 0.94. The company has a quick ratio of 1.44, a current ratio of 1.72 and a debt-to-equity ratio of 0.36. Fomento Económico Mexicano, S.A.B. de C.V. has a 52 week low of $93.00 and a 52 week high of $143.43.

Fomento Económico Mexicano Cuts Dividend

The business also recently declared an annual dividend, which was paid on Monday, October 28th. Shareholders of record on Wednesday, October 16th were issued 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 12.82%.

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.