ABS Direct Equity Fund LLC Trims Position in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

ABS Direct Equity Fund LLC lessened its holdings in shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) by 12.6% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 67,900 shares of the company’s stock after selling 9,800 shares during the quarter. Fomento Económico Mexicano makes up 6.7% of ABS Direct Equity Fund LLC’s portfolio, making the stock its 2nd biggest position. ABS Direct Equity Fund LLC’s holdings in Fomento Económico Mexicano were worth $5,805,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in FMX. Brooklyn Investment Group raised its stake in shares of Fomento Económico Mexicano by 82.8% in the 4th quarter. Brooklyn Investment Group now owns 340 shares of the company’s stock valued at $29,000 after purchasing an additional 154 shares during the period. Exchange Traded Concepts LLC bought a new position in shares of Fomento Económico Mexicano during the fourth quarter worth about $51,000. Banque Cantonale Vaudoise acquired a new stake in Fomento Económico Mexicano in the 3rd quarter valued at approximately $55,000. Rosenberg Matthew Hamilton lifted its stake in Fomento Económico Mexicano by 30.2% in the 4th quarter. Rosenberg Matthew Hamilton now owns 758 shares of the company’s stock valued at $65,000 after acquiring an additional 176 shares in the last quarter. Finally, UMB Bank n.a. boosted its position in Fomento Económico Mexicano by 29.7% during the 4th quarter. UMB Bank n.a. now owns 887 shares of the company’s stock worth $76,000 after acquiring an additional 203 shares during the last quarter. 61.00% of the stock is owned by institutional investors and hedge funds.

Fomento Económico Mexicano Stock Down 0.9 %

Shares of FMX stock opened at $84.52 on Tuesday. Fomento Económico Mexicano, S.A.B. de C.V. has a 52-week low of $81.07 and a 52-week high of $143.43. The stock has a market cap of $30.24 billion, a price-to-earnings ratio of 21.67, a PEG ratio of 4.87 and a beta of 0.90. The firm’s 50-day moving average is $86.45 and its 200-day moving average is $97.57. 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 firm also recently disclosed a dividend, which was paid on Friday, January 17th. Stockholders of record on Friday, January 17th were given a $0.9201 dividend. This is a boost from Fomento Económico Mexicano’s previous dividend of $0.74. The ex-dividend date of this dividend was Friday, January 17th. Fomento Económico Mexicano’s dividend payout ratio (DPR) is presently 20.26%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on FMX shares. StockNews.com upgraded shares of Fomento Económico Mexicano from a “hold” rating to a “buy” rating in a research note on Wednesday, November 6th. Barclays cut Fomento Económico Mexicano from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, January 21st. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $126.33.

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.