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

Cumberland Partners Ltd decreased its holdings in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) by 4.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 20,000 shares of the company’s stock after selling 1,000 shares during the period. 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 and hedge funds also recently made changes to their positions in the business. Baillie Gifford & Co. boosted its position in Fomento Económico Mexicano by 0.4% during the fourth quarter. Baillie Gifford & Co. now owns 4,325,489 shares of the company’s stock valued at $369,786,000 after buying an additional 18,750 shares during the period. Perpetual Ltd boosted its holdings in Fomento Económico Mexicano by 23.8% during the 4th quarter. Perpetual Ltd now owns 924,669 shares of the company’s stock valued at $79,050,000 after acquiring an additional 177,843 shares during the period. Robeco Institutional Asset Management B.V. grew its position in Fomento Económico Mexicano by 12.8% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 654,778 shares of the company’s stock worth $55,977,000 after acquiring an additional 74,082 shares during the last quarter. Ninety One UK Ltd increased its stake in Fomento Económico Mexicano by 3.9% in the 4th quarter. Ninety One UK Ltd now owns 644,148 shares of the company’s stock worth $55,068,000 after purchasing an additional 23,902 shares during the period. Finally, FMR LLC lifted its position in Fomento Económico Mexicano by 5.3% in the third quarter. FMR LLC now owns 491,582 shares of the company’s stock valued at $48,524,000 after purchasing an additional 24,537 shares during the last quarter. Institutional investors own 61.00% of the company’s stock.

Analysts Set New Price Targets

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

Fomento Económico Mexicano Price Performance

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

Fomento Económico Mexicano Increases Dividend

The firm also recently announced a dividend, which was paid on Friday, January 17th. Stockholders of record on Friday, January 17th were given a $0.9201 dividend. The ex-dividend date of this dividend 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 is currently 11.79%.

About Fomento Económico Mexicano

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.