Cidel Asset Management Inc. Trims Stake in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Cidel Asset Management Inc. cut its stake in shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) by 58.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,695 shares of the company’s stock after selling 3,756 shares during the period. Cidel Asset Management Inc.’s holdings in Fomento Económico Mexicano were worth $230,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of FMX. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Fomento Económico Mexicano during the 3rd quarter valued at about $7,672,000. BNP Paribas Financial Markets raised its stake in Fomento Económico Mexicano by 107.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 326,302 shares of the company’s stock worth $32,209,000 after acquiring an additional 169,184 shares during the period. Park Avenue Securities LLC purchased a new position in Fomento Económico Mexicano during the fourth quarter valued at approximately $225,000. Baillie Gifford & Co. boosted its position in shares of Fomento Económico Mexicano by 10.8% in the third quarter. Baillie Gifford & Co. now owns 4,306,739 shares of the company’s stock worth $425,118,000 after purchasing an additional 421,057 shares during the period. Finally, Sarasin & Partners LLP increased its stake in shares of Fomento Económico Mexicano by 33.3% in the fourth quarter. Sarasin & Partners LLP now owns 20,000 shares of the company’s stock worth $1,710,000 after purchasing an additional 5,000 shares in the last quarter. Institutional investors own 61.00% of the company’s stock.

Fomento Económico Mexicano Price Performance

Shares of NYSE:FMX opened at $87.87 on Monday. The firm has a market cap of $31.44 billion, a price-to-earnings ratio of 22.53, a P/E/G ratio of 5.18 and a beta of 0.90. The firm has a fifty day moving average price of $86.19 and a 200 day moving average price of $95.57. Fomento Económico Mexicano, S.A.B. de C.V. has a fifty-two week low of $81.07 and a fifty-two week high of $143.43. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.32 and a current ratio of 1.62.

Fomento Económico Mexicano Increases Dividend

The business also recently disclosed a dividend, which was paid on Friday, January 17th. Shareholders of record on Friday, January 17th were issued 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 is 11.79%.

Analyst Upgrades and Downgrades

FMX has been the topic of a number of analyst reports. StockNews.com upgraded shares of Fomento Económico Mexicano from a “hold” rating to a “buy” rating in a research note on Wednesday, November 6th. The Goldman Sachs Group decreased 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. Finally, Barclays lowered Fomento Económico Mexicano from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, January 21st. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Fomento Económico Mexicano currently has a consensus rating of “Hold” and an average target price 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.