Cumberland Partners Ltd Lowers Stock Holdings in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Cumberland Partners Ltd lessened its position in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) by 13.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,000 shares of the company’s stock after selling 2,000 shares during the quarter. Cumberland Partners Ltd’s holdings in Fomento Económico Mexicano were worth $1,695,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in FMX. Baillie Gifford & Co. increased its holdings in shares of Fomento Económico Mexicano by 118.0% in the third quarter. Baillie Gifford & Co. now owns 2,495,474 shares of the company’s stock valued at $272,381,000 after purchasing an additional 1,350,922 shares during the last quarter. Acadian Asset Management LLC increased its stake in Fomento Económico Mexicano by 284.7% during the third quarter. Acadian Asset Management LLC now owns 852,977 shares of the company’s stock worth $93,085,000 after acquiring an additional 631,270 shares during the last quarter. FMR LLC increased its stake in Fomento Económico Mexicano by 49.8% during the third quarter. FMR LLC now owns 861,598 shares of the company’s stock worth $94,043,000 after acquiring an additional 286,254 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its stake in Fomento Económico Mexicano by 53.4% during the third quarter. Robeco Institutional Asset Management B.V. now owns 735,876 shares of the company’s stock worth $80,321,000 after acquiring an additional 256,300 shares during the last quarter. Finally, Sei Investments Co. increased its stake in Fomento Económico Mexicano by 38.8% during the third quarter. Sei Investments Co. now owns 770,049 shares of the company’s stock worth $84,051,000 after acquiring an additional 215,241 shares during the last quarter.

Fomento Económico Mexicano Stock Down 1.8 %

NYSE:FMX traded down $2.13 during midday trading on Tuesday, hitting $116.38. 994,406 shares of the stock were exchanged, compared to its average volume of 685,972. Fomento Económico Mexicano, S.A.B. de C.V. has a one year low of $91.71 and a one year high of $143.43. The business has a 50-day moving average price of $126.31 and a two-hundred day moving average price of $125.43. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.91 and a quick ratio of 1.60.

Fomento Económico Mexicano (NYSE:FMX) last posted its quarterly earnings results on Friday, February 23rd. The company reported $1.07 earnings per share (EPS) for the quarter. The company had revenue of $11.23 billion for the quarter, compared to analysts’ expectations of $11.21 billion. Fomento Económico Mexicano had a return on equity of 9.63% and a net margin of 8.53%. On average, research analysts expect that Fomento Económico Mexicano, S.A.B. de C.V. will post 5.7 EPS for the current year.

Fomento Económico Mexicano Increases Dividend

The company also recently disclosed an annual dividend, which will be paid on Monday, April 29th. Shareholders of record on Wednesday, April 17th will be given a dividend of $1.115 per share. This represents a yield of 0.87%. This is a boost from Fomento Económico Mexicano’s previous annual dividend of $0.74. The ex-dividend date is Tuesday, April 16th. Fomento Económico Mexicano’s payout ratio is presently 6.11%.

Analyst Ratings Changes

FMX has been the subject of a number of recent analyst reports. HSBC raised Fomento Económico Mexicano from a “hold” rating to a “buy” rating and lifted their price target for the stock from $124.00 to $152.00 in a report on Friday, February 9th. UBS Group cut Fomento Económico Mexicano from a “buy” rating to a “neutral” rating in a research report on Friday, January 12th. StockNews.com lowered Fomento Económico Mexicano from a “buy” rating to a “hold” rating in a research note on Monday, February 26th. Finally, Bank of America reissued a “neutral” rating on shares of Fomento Económico Mexicano in a research note on Monday, February 26th. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $135.75.

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.