Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) Shares Sold by Fifth Third Bancorp

Fifth Third Bancorp lowered its stake in shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) by 18.2% during the 4th quarter, HoldingsChannel.com reports. The fund owned 26,134 shares of the company’s stock after selling 5,804 shares during the quarter. Fifth Third Bancorp’s holdings in Fomento Económico Mexicano were worth $2,234,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Exchange Traded Concepts LLC purchased a new stake in Fomento Económico Mexicano during the 4th quarter worth approximately $51,000. SG Americas Securities LLC lifted its stake in shares of Fomento Económico Mexicano by 52.8% during the fourth quarter. SG Americas Securities LLC now owns 3,992 shares of the company’s stock worth $341,000 after buying an additional 1,379 shares during the period. Atomi Financial Group Inc. grew its holdings in shares of Fomento Económico Mexicano by 13.5% during the fourth quarter. Atomi Financial Group Inc. now owns 2,800 shares of the company’s stock valued at $239,000 after buying an additional 334 shares during the last quarter. Perpetual Ltd increased its position in shares of Fomento Económico Mexicano by 23.8% in the 4th quarter. Perpetual Ltd now owns 924,669 shares of the company’s stock valued at $79,050,000 after acquiring an additional 177,843 shares during the period. Finally, Crossmark Global Holdings Inc. raised its stake in Fomento Económico Mexicano by 9.2% in the 4th quarter. Crossmark Global Holdings Inc. now owns 20,382 shares of the company’s stock worth $1,743,000 after acquiring an additional 1,717 shares during the last quarter. 61.00% of the stock is owned by hedge funds and other institutional investors.

Fomento Económico Mexicano Stock Performance

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 company has a quick ratio of 1.32, a current ratio of 1.62 and a debt-to-equity ratio of 0.37. The stock has a market cap of $30.24 billion, a PE ratio of 21.67, a price-to-earnings-growth ratio of 4.87 and a beta of 0.90. The business has a 50-day simple moving average of $86.45 and a 200-day simple moving average of $97.57.

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 given 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 is currently 11.79%.

Analyst Upgrades and Downgrades

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