Cidel Asset Management Inc. Trims Holdings in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Cidel Asset Management Inc. reduced its holdings in shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) by 58.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,695 shares of the company’s stock after selling 3,756 shares during the period. Cidel Asset Management Inc.’s holdings in Fomento Económico Mexicano were worth $230,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Brooklyn Investment Group increased its holdings in shares of Fomento Económico Mexicano by 82.8% during the fourth quarter. Brooklyn Investment Group now owns 340 shares of the company’s stock valued at $29,000 after acquiring an additional 154 shares in the last quarter. Mather Group LLC. increased its stake in Fomento Económico Mexicano by 179.1% during the 4th quarter. Mather Group LLC. now owns 575 shares of the company’s stock valued at $49,000 after purchasing an additional 369 shares in the last quarter. Exchange Traded Concepts LLC bought a new stake in Fomento Económico Mexicano during the 4th quarter valued at about $51,000. Banque Cantonale Vaudoise purchased a new position in Fomento Económico Mexicano in the third quarter worth about $55,000. Finally, Rosenberg Matthew Hamilton lifted its stake in shares of Fomento Económico Mexicano by 30.2% in the fourth quarter. Rosenberg Matthew Hamilton now owns 758 shares of the company’s stock worth $65,000 after buying an additional 176 shares in the last quarter. Institutional investors own 61.00% of the company’s stock.

Fomento Económico Mexicano Trading Down 2.0 %

NYSE:FMX opened at $87.87 on Monday. The company has a market cap of $31.44 billion, a PE ratio of 22.53, a price-to-earnings-growth ratio of 5.18 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. The company has a 50 day simple moving average of $86.19 and a two-hundred day simple moving average of $95.57. 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 declared a dividend, which was paid on Friday, January 17th. Shareholders of record on Friday, January 17th were paid a dividend of $0.9201 per share. This is an increase from Fomento Económico Mexicano’s previous dividend of $0.74. The ex-dividend date was Friday, January 17th. Fomento Económico Mexicano’s payout ratio is currently 11.79%.

Wall Street Analyst Weigh In

FMX has been the subject of several analyst reports. Barclays downgraded shares of Fomento Económico Mexicano from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, January 21st. The Goldman Sachs Group decreased their price target on Fomento Económico Mexicano from $109.00 to $97.80 and set a “buy” rating for the company in a research note on Tuesday, January 28th. Finally, StockNews.com raised Fomento Económico Mexicano from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $108.27.

About Fomento Económico 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.