Choreo LLC Cuts Stock Holdings in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Choreo LLC trimmed its stake in shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) by 13.6% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 16,260 shares of the company’s stock after selling 2,564 shares during the period. Choreo LLC’s holdings in Fomento Económico Mexicano were worth $1,387,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. grew its stake in Fomento Económico Mexicano by 51.7% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,282 shares of the company’s stock valued at $284,000 after acquiring an additional 1,119 shares in the last quarter. Ninety One UK Ltd grew its stake in Fomento Económico Mexicano by 3.9% during the fourth quarter. Ninety One UK Ltd now owns 644,148 shares of the company’s stock valued at $55,068,000 after acquiring an additional 23,902 shares in the last quarter. Ninety One North America Inc. grew its stake in Fomento Económico Mexicano by 0.6% during the fourth quarter. Ninety One North America Inc. now owns 250,422 shares of the company’s stock valued at $21,409,000 after acquiring an additional 1,470 shares in the last quarter. Mather Group LLC. grew its stake in Fomento Económico Mexicano by 179.1% during the fourth quarter. Mather Group LLC. now owns 575 shares of the company’s stock valued at $49,000 after acquiring an additional 369 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its stake in Fomento Económico Mexicano by 12.8% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 654,778 shares of the company’s stock valued at $55,977,000 after acquiring an additional 74,082 shares in the last quarter. 61.00% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

FMX has been the subject of several research analyst reports. Barclays cut shares of Fomento Económico Mexicano from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, January 21st. StockNews.com upgraded shares of Fomento Económico Mexicano from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th. Finally, The Goldman Sachs Group lowered their price objective on shares of Fomento Económico Mexicano from $109.00 to $97.80 and set a “buy” rating for the company in a research report on Tuesday, January 28th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $119.20.

Fomento Económico Mexicano Price Performance

Fomento Económico Mexicano stock opened at $87.87 on Friday. The firm has a 50-day moving average price of $86.22 and a 200-day moving average price of $95.94. The firm has a market capitalization of $31.44 billion, a PE ratio of 22.53, a price-to-earnings-growth ratio of 4.92 and a beta of 0.90. The company has a current ratio of 1.62, a quick ratio of 1.32 and a debt-to-equity ratio of 0.37. Fomento Económico Mexicano, S.A.B. de C.V. has a 12-month low of $81.07 and a 12-month high of $143.43.

Fomento Económico Mexicano Increases Dividend

The company also recently announced a dividend, which was paid on Friday, January 17th. Stockholders of record on Friday, January 17th were issued a $0.9201 dividend. The ex-dividend date was Friday, January 17th. This is a positive change from Fomento Económico Mexicano’s previous dividend of $0.74. Fomento Económico Mexicano’s dividend payout ratio (DPR) is 11.79%.

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.