Choreo LLC Sells 2,564 Shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Choreo LLC decreased its stake in shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) by 13.6% in the fourth quarter, HoldingsChannel reports. 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.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Brooklyn Investment Group lifted its holdings in Fomento Económico Mexicano by 82.8% during the 4th quarter. Brooklyn Investment Group now owns 340 shares of the company’s stock valued at $29,000 after buying an additional 154 shares in the last quarter. Banque Cantonale Vaudoise bought a new stake in Fomento Económico Mexicano during the 3rd quarter valued at about $55,000. Mather Group LLC. lifted its holdings 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 buying 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. Finally, Rosenberg Matthew Hamilton lifted its holdings in Fomento Económico Mexicano by 30.2% during the 4th quarter. Rosenberg Matthew Hamilton now owns 758 shares of the company’s stock valued at $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 Stock Down 2.0 %

Shares of Fomento Económico Mexicano stock opened at $87.87 on Friday. The firm’s 50 day moving average price is $86.22 and its 200-day moving average price is $95.94. The company has a quick ratio of 1.32, a current ratio of 1.62 and a debt-to-equity ratio of 0.37. 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 market cap of $31.44 billion, a P/E ratio of 22.53, a PEG ratio of 4.92 and a beta of 0.90.

Fomento Económico Mexicano Increases Dividend

The company 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. The ex-dividend date was Friday, January 17th. This is an increase from Fomento Económico Mexicano’s previous dividend of $0.74. Fomento Económico Mexicano’s payout ratio is presently 11.79%.

Analyst Ratings Changes

A number of brokerages recently weighed in on FMX. Barclays lowered shares of Fomento Económico Mexicano from an “overweight” rating to an “equal weight” rating in a report on Tuesday, January 21st. The Goldman Sachs Group cut their target price on shares of Fomento Económico Mexicano from $109.00 to $97.80 and set a “buy” rating on the stock in a research report on Tuesday, January 28th. Finally, StockNews.com raised shares of Fomento Económico Mexicano from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $119.20.

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.