Fifth Third Bancorp Sells 5,804 Shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Fifth Third Bancorp lessened its holdings in shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX - Free Report) by 18.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 26,134 shares of the company's stock after selling 5,804 shares during the period. Fifth Third Bancorp's holdings in Fomento Económico Mexicano were worth $2,234,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of FMX. Dimensional Fund Advisors LP raised its stake in Fomento Económico Mexicano by 0.7% during the second quarter. Dimensional Fund Advisors LP now owns 260,476 shares of the company's stock worth $28,035,000 after buying an additional 1,773 shares during the last quarter. Bank of Montreal Can raised its stake in Fomento Económico Mexicano by 2.7% during the second quarter. Bank of Montreal Can now owns 27,285 shares of the company's stock worth $2,984,000 after buying an additional 729 shares during the last quarter. Marshall Wace LLP raised its stake in Fomento Económico Mexicano by 157.5% during the second quarter. Marshall Wace LLP now owns 44,036 shares of the company's stock worth $4,740,000 after buying an additional 26,934 shares during the last quarter. Millennium Management LLC increased its stake in Fomento Económico Mexicano by 577.6% in the second quarter. Millennium Management LLC now owns 222,464 shares of the company's stock valued at $23,948,000 after purchasing an additional 189,632 shares in the last quarter. Finally, Brandes Investment Partners LP bought a new stake in Fomento Económico Mexicano in the second quarter valued at $1,080,000. Institutional investors own 61.00% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on FMX. StockNews.com raised shares of Fomento Económico Mexicano from a "hold" rating to a "buy" rating in a research note on Wednesday, November 6th. The Goldman Sachs Group lowered their price target 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. Finally, Barclays lowered shares of Fomento Económico Mexicano from an "overweight" rating to an "equal weight" rating in a report on Tuesday, January 21st. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $119.20.

Fomento Económico Mexicano Price Performance

Shares of NYSE:FMX traded down $1.99 during trading on Friday, reaching $85.29. The company had a trading volume of 338,606 shares, compared to its average volume of 455,174. The company has a fifty day moving average of $86.29 and a two-hundred day moving average of $97.00. The stock has a market capitalization of $30.52 billion, a P/E ratio of 21.87, a price-to-earnings-growth ratio of 5.00 and a beta of 0.90. 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. 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 Increases Dividend

The firm 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 was Friday, January 17th. Fomento Económico Mexicano's dividend payout ratio 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.