Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) Shares Bought by Cumberland Partners Ltd

Cumberland Partners Ltd grew its holdings in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) by 10.5% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 21,000 shares of the company’s stock after buying an additional 2,000 shares during the period. Cumberland Partners Ltd’s holdings in Fomento Económico Mexicano were worth $2,073,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also bought and sold shares of FMX. Baillie Gifford & Co. boosted its position in shares of Fomento Económico Mexicano by 10.8% during the 3rd quarter. Baillie Gifford & Co. now owns 4,306,739 shares of the company’s stock valued at $425,118,000 after acquiring an additional 421,057 shares during the last quarter. Black Creek Investment Management Inc. grew its holdings in shares of Fomento Económico Mexicano by 15.5% in the second quarter. Black Creek Investment Management Inc. now owns 906,798 shares of the company’s stock valued at $97,617,000 after purchasing an additional 121,800 shares in the last quarter. LA Financiere DE L Echiquier grew its stake in shares of Fomento Económico Mexicano by 22.1% in the second quarter. LA Financiere DE L Echiquier now owns 776,241 shares of the company’s stock worth $83,562,000 after acquiring an additional 140,309 shares in the last quarter. Perpetual Ltd increased its holdings in Fomento Económico Mexicano by 9.4% during the 3rd quarter. Perpetual Ltd now owns 746,826 shares of the company’s stock worth $73,719,000 after purchasing an additional 64,291 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its holdings in Fomento Económico Mexicano by 740.2% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 472,200 shares of the company’s stock valued at $50,832,000 after acquiring an additional 416,000 shares in the last quarter.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. StockNews.com raised Fomento Económico Mexicano from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th. JPMorgan Chase & Co. downgraded Fomento Económico Mexicano from an “overweight” rating to a “neutral” rating and boosted their target price for the company from $104.00 to $109.00 in a report on Monday, September 23rd. Finally, Barclays reduced their price objective on Fomento Económico Mexicano from $125.00 to $118.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Fomento Económico Mexicano currently has a consensus rating of “Hold” and a consensus target price of $128.25.

Fomento Económico Mexicano Stock Performance

FMX traded down $0.92 during trading on Tuesday, reaching $95.28. The company’s stock had a trading volume of 13,211 shares, compared to its average volume of 683,008. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.44 and a current ratio of 1.72. Fomento Económico Mexicano, S.A.B. de C.V. has a 52-week low of $93.32 and a 52-week high of $143.43. The company has a market capitalization of $34.09 billion, a price-to-earnings ratio of 24.68, a price-to-earnings-growth ratio of 5.67 and a beta of 0.94. The company’s fifty day moving average price is $99.23 and its 200-day moving average price is $107.68.

Fomento Económico Mexicano Cuts Dividend

The company also recently announced an annual dividend, which was paid on Monday, October 28th. Stockholders of record on Wednesday, October 16th were issued a dividend of $0.864 per share. This represents a dividend yield of 0.87%. The ex-dividend date of this dividend was Wednesday, October 16th. Fomento Económico Mexicano’s payout ratio is currently 12.82%.

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.