Cumberland Partners Ltd Sells 2,000 Shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

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

A number of other hedge funds have also added to or reduced their stakes in the business. Baillie Gifford & Co. grew its position in shares of Fomento Económico Mexicano by 118.0% in the 3rd quarter. Baillie Gifford & Co. now owns 2,495,474 shares of the company’s stock valued at $272,381,000 after acquiring an additional 1,350,922 shares during the period. Acadian Asset Management LLC boosted its holdings in shares of Fomento Económico Mexicano by 284.7% during the 3rd quarter. Acadian Asset Management LLC now owns 852,977 shares of the company’s stock worth $93,085,000 after buying an additional 631,270 shares during the period. FMR LLC boosted its holdings in shares of Fomento Económico Mexicano by 49.8% during the 3rd quarter. FMR LLC now owns 861,598 shares of the company’s stock worth $94,043,000 after buying an additional 286,254 shares during the period. Robeco Institutional Asset Management B.V. boosted its holdings in shares of Fomento Económico Mexicano by 53.4% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 735,876 shares of the company’s stock worth $80,321,000 after buying an additional 256,300 shares during the period. Finally, Sei Investments Co. boosted its holdings in shares of Fomento Económico Mexicano by 38.8% during the 3rd quarter. Sei Investments Co. now owns 770,049 shares of the company’s stock worth $84,051,000 after buying an additional 215,241 shares during the period.

Fomento Económico Mexicano Stock Performance

Shares of NYSE:FMX traded down $2.13 during midday trading on Tuesday, hitting $116.38. The stock had a trading volume of 994,406 shares, compared to its average volume of 685,972. The company’s 50-day moving average price is $126.31 and its 200-day moving average price is $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, S.A.B. de C.V. has a fifty-two week low of $91.71 and a fifty-two week high of $143.43.

Fomento Económico Mexicano (NYSE:FMX) last issued its earnings results on Friday, February 23rd. The company reported $1.07 EPS for the quarter. The company had revenue of $11.23 billion during the quarter, compared to analysts’ expectations of $11.21 billion. Fomento Económico Mexicano had a net margin of 8.53% and a return on equity of 9.63%. Research analysts predict 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 business also recently declared an annual dividend, which will be paid on Monday, April 29th. Investors of record on Wednesday, April 17th will be issued a dividend of $1.115 per share. The ex-dividend date of this dividend is Tuesday, April 16th. This is a positive change from Fomento Económico Mexicano’s previous annual dividend of $0.74. This represents a dividend yield of 0.87%. Fomento Económico Mexicano’s payout ratio is 6.11%.

Analyst Ratings Changes

Several analysts have weighed in on FMX shares. HSBC upgraded shares of Fomento Económico Mexicano from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $124.00 to $152.00 in a research note on Friday, February 9th. StockNews.com cut shares of Fomento Económico Mexicano from a “buy” rating to a “hold” rating in a research note on Monday, February 26th. Bank of America reiterated a “neutral” rating on shares of Fomento Económico Mexicano in a research note on Monday, February 26th. Finally, UBS Group cut shares of Fomento Económico Mexicano from a “buy” rating to a “neutral” rating in a research note on Friday, January 12th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $135.75.

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.