Cumberland Partners Ltd Sells 1,000 Shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Cumberland Partners Ltd decreased its position in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) by 4.8% during the fourth quarter, HoldingsChannel.com reports. The firm owned 20,000 shares of the company’s stock after selling 1,000 shares during the quarter. Cumberland Partners Ltd’s holdings in Fomento Económico Mexicano were worth $1,710,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of FMX. Whittier Trust Co. of Nevada Inc. lifted its position in Fomento Económico Mexicano by 9.0% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 2,479 shares of the company’s stock valued at $245,000 after acquiring an additional 204 shares in the last quarter. International Assets Investment Management LLC bought a new stake in Fomento Económico Mexicano in the 3rd quarter worth approximately $2,991,000. Assenagon Asset Management S.A. raised its stake in Fomento Económico Mexicano by 201.8% during the 3rd quarter. Assenagon Asset Management S.A. now owns 55,822 shares of the company’s stock valued at $5,510,000 after buying an additional 37,325 shares during the last quarter. Klein Pavlis & Peasley Financial Inc. raised its stake in Fomento Económico Mexicano by 5.8% during the 3rd quarter. Klein Pavlis & Peasley Financial Inc. now owns 25,507 shares of the company’s stock valued at $2,518,000 after buying an additional 1,402 shares during the last quarter. Finally, Van ECK Associates Corp lifted its holdings in shares of Fomento Económico Mexicano by 61.7% during the 3rd quarter. Van ECK Associates Corp now owns 802 shares of the company’s stock valued at $78,000 after buying an additional 306 shares during the period. 61.00% of the stock is owned by hedge funds and other institutional investors.

Fomento Económico Mexicano Stock Performance

Shares of NYSE FMX opened at $90.77 on Thursday. The stock has a market cap of $32.48 billion, a PE ratio of 23.27, a price-to-earnings-growth ratio of 5.29 and a beta of 0.90. Fomento Económico Mexicano, S.A.B. de C.V. has a 1 year low of $81.07 and a 1 year high of $134.67. The firm has a fifty day moving average price of $86.15 and a 200-day moving average price of $94.47. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.62 and a quick ratio of 1.32.

Fomento Económico Mexicano Increases Dividend

The firm also recently announced a dividend, which was paid on Friday, January 17th. Investors of record on Friday, January 17th were paid a dividend of $0.9201 per share. The ex-dividend date was Friday, January 17th. This is an increase from Fomento Económico Mexicano’s previous dividend of $0.74. Fomento Económico Mexicano’s dividend payout ratio (DPR) is 11.79%.

Analyst Ratings Changes

Several brokerages recently commented on FMX. StockNews.com raised Fomento Económico Mexicano from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. Barclays downgraded Fomento Económico Mexicano from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, January 21st. Finally, The Goldman Sachs Group lowered their price objective on shares of Fomento Económico Mexicano from $109.00 to $97.80 and set a “buy” rating on the stock in a research note on Tuesday, January 28th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $108.27.

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.