169,483 Shares in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) Purchased by New York State Common Retirement Fund

New York State Common Retirement Fund purchased a new stake in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) during the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 169,483 shares of the company’s stock, valued at approximately $22,092,000.

Other institutional investors also recently bought and sold shares of the company. Operose Advisors LLC purchased a new stake in shares of Fomento Económico Mexicano during the third quarter worth $29,000. Assetmark Inc. acquired a new stake in Fomento Económico Mexicano in the 3rd quarter valued at about $36,000. Systematic Alpha Investments LLC purchased a new position in Fomento Económico Mexicano in the 3rd quarter worth approximately $147,000. Whittier Trust Co. of Nevada Inc. boosted its holdings in shares of Fomento Económico Mexicano by 12.5% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,462 shares of the company’s stock worth $160,000 after purchasing an additional 162 shares during the last quarter. Finally, Brown Advisory Inc. acquired a new position in shares of Fomento Económico Mexicano during the 3rd quarter worth approximately $203,000.

Analysts Set New Price Targets

A number of brokerages recently commented on FMX. StockNews.com downgraded Fomento Económico Mexicano from a “buy” rating to a “hold” rating in a research report on Monday, February 26th. UBS Group lowered Fomento Económico Mexicano from a “buy” rating to a “neutral” rating in a report on Friday, January 12th. Bank of America restated a “neutral” rating on shares of Fomento Económico Mexicano in a research report on Monday, February 26th. Finally, HSBC raised shares of Fomento Económico Mexicano from a “hold” rating to a “buy” rating and lifted their target price for the stock from $124.00 to $152.00 in a research note on Friday, February 9th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $135.75.

Fomento Económico Mexicano Price Performance

Shares of FMX opened at $118.93 on Friday. The firm has a 50-day simple moving average of $124.96 and a two-hundred day simple moving average of $125.52. The stock has a market cap of $42.56 billion, a PE ratio of 11.18, a P/E/G ratio of 0.91 and a beta of 0.94. Fomento Económico Mexicano, S.A.B. de C.V. has a 1-year low of $91.71 and a 1-year high of $143.43. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.91 and a quick ratio of 1.60.

Fomento Económico Mexicano (NYSE:FMX) last released its earnings results on Friday, April 26th. The company reported $0.47 earnings per share for the quarter. Fomento Económico Mexicano had a return on equity of 9.63% and a net margin of 8.53%. The company had revenue of $10.76 billion during the quarter. As a group, analysts forecast that Fomento Económico Mexicano, S.A.B. de C.V. will post 5.52 EPS for the current year.

Fomento Económico Mexicano Increases Dividend

The business also recently disclosed an annual dividend, which will be paid on Monday, April 29th. Stockholders of record on Wednesday, April 17th will be given a dividend of $1.115 per share. The ex-dividend date is Tuesday, April 16th. This represents a dividend yield of 0.87%. This is a positive change from Fomento Económico Mexicano’s previous annual dividend of $0.74. Fomento Económico Mexicano’s dividend payout ratio is currently 5.83%.

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.