Cumberland Partners Ltd Reduces Stake in Fomento Economico Mexicano S.A.B. de C.V. $FMX

Cumberland Partners Ltd reduced its stake in shares of Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) by 14.3% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 15,000 shares of the company’s stock after selling 2,500 shares during the period. Cumberland Partners Ltd’s holdings in Fomento Economico Mexicano were worth $1,545,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Royal Bank of Canada raised its stake in shares of Fomento Economico Mexicano by 1.9% during the 1st quarter. Royal Bank of Canada now owns 5,369,981 shares of the company’s stock worth $524,003,000 after buying an additional 100,898 shares during the period. Nuveen LLC purchased a new position in Fomento Economico Mexicano during the first quarter worth approximately $330,437,000. Citigroup Inc. raised its holdings in shares of Fomento Economico Mexicano by 309.6% during the 2nd quarter. Citigroup Inc. now owns 1,714,895 shares of the company’s stock worth $176,600,000 after acquiring an additional 1,296,194 shares during the period. Aberdeen Group plc boosted its holdings in Fomento Economico Mexicano by 10.8% in the 2nd quarter. Aberdeen Group plc now owns 1,155,766 shares of the company’s stock valued at $119,414,000 after purchasing an additional 112,813 shares during the last quarter. Finally, Itau Unibanco Holding S.A. lifted its holdings in Fomento Economico Mexicano by 105.4% in the first quarter. Itau Unibanco Holding S.A. now owns 1,112,036 shares of the company’s stock valued at $106,139,000 after acquiring an additional 570,640 shares during the last quarter. 61.00% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Zacks Research upgraded shares of Fomento Economico Mexicano from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 28th. Barclays cut their target price on shares of Fomento Economico Mexicano from $107.00 to $105.00 and set an “equal weight” rating on the stock in a research note on Monday, November 3rd. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Fomento Economico Mexicano in a report on Wednesday, October 8th. JPMorgan Chase & Co. upped their target price on shares of Fomento Economico Mexicano from $96.00 to $102.00 and gave the company a “neutral” rating in a report on Monday, October 20th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $97.00 price target (down previously from $132.00) on shares of Fomento Economico Mexicano in a research report on Tuesday, August 19th. Four equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $101.63.

Fomento Economico Mexicano Stock Down 0.1%

Shares of NYSE FMX opened at $94.35 on Thursday. The company has a market cap of $33.76 billion, a P/E ratio of 38.04, a P/E/G ratio of 5.54 and a beta of 0.70. The company has a current ratio of 1.10, a quick ratio of 1.06 and a debt-to-equity ratio of 0.50. Fomento Economico Mexicano S.A.B. de C.V. has a 12-month low of $81.07 and a 12-month high of $108.74. The stock has a fifty day moving average price of $94.95 and a 200 day moving average price of $96.65.

Fomento Economico Mexicano (NYSE:FMX) last posted its quarterly earnings data on Tuesday, October 28th. The company reported $0.88 earnings per share for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.18). The firm had revenue of $11.71 billion during the quarter, compared to analysts’ expectations of $215.60 billion. Fomento Economico Mexicano had a net margin of 2.09% and a return on equity of 5.01%. Research analysts anticipate that Fomento Economico Mexicano S.A.B. de C.V. will post 5.32 EPS for the current fiscal year.

Fomento Economico Mexicano Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, October 27th. Investors of record on Thursday, October 16th were issued a $1.9982 dividend. This is a positive change from Fomento Economico Mexicano’s previous quarterly dividend of $1.36. The ex-dividend date of this dividend was Thursday, October 16th. This represents a $7.99 annualized dividend and a dividend yield of 8.5%. Fomento Economico Mexicano’s dividend payout ratio (DPR) is 89.92%.

About Fomento Economico 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.