Baker Ellis Asset Management LLC Sells 2,362 Shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Baker Ellis Asset Management LLC lowered its stake in shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) by 5.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,838 shares of the company’s stock after selling 2,362 shares during the quarter. Baker Ellis Asset Management LLC’s holdings in Fomento Económico Mexicano were worth $3,491,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in the stock. Brooklyn Investment Group raised its stake in Fomento Económico Mexicano by 82.8% in the fourth quarter. Brooklyn Investment Group now owns 340 shares of the company’s stock valued at $29,000 after buying an additional 154 shares during the last quarter. Banque Cantonale Vaudoise purchased a new stake in Fomento Económico Mexicano in the third quarter valued at about $55,000. Rosenberg Matthew Hamilton raised its stake in Fomento Económico Mexicano by 30.2% in the fourth quarter. Rosenberg Matthew Hamilton now owns 758 shares of the company’s stock valued at $65,000 after buying an additional 176 shares during the last quarter. UMB Bank n.a. raised its stake in Fomento Económico Mexicano by 29.7% in the fourth quarter. UMB Bank n.a. now owns 887 shares of the company’s stock valued at $76,000 after buying an additional 203 shares during the last quarter. Finally, Van ECK Associates Corp raised its stake in Fomento Económico Mexicano by 61.7% in the third quarter. Van ECK Associates Corp now owns 802 shares of the company’s stock valued at $78,000 after buying an additional 306 shares during the last quarter. Institutional investors own 61.00% of the company’s stock.

Fomento Económico Mexicano Trading Down 0.8 %

Shares of NYSE:FMX opened at $84.33 on Thursday. 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 $30.17 billion, a price-to-earnings ratio of 21.62, a PEG ratio of 4.90 and a beta of 0.90. 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 business has a 50-day moving average price of $86.86 and a 200-day moving average price of $98.16.

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 paid 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 12.05%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. StockNews.com upgraded 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 note on Tuesday. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $126.33.

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.