Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) Shares Acquired by Invesco Ltd.

Invesco Ltd. raised its stake in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) by 73.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 405,757 shares of the company’s stock after purchasing an additional 172,186 shares during the period. Invesco Ltd. owned 0.11% of Fomento Económico Mexicano worth $34,688,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in FMX. Brooklyn Investment Group raised its stake in Fomento Económico Mexicano by 82.8% during the 4th quarter. Brooklyn Investment Group now owns 340 shares of the company’s stock worth $29,000 after acquiring an additional 154 shares in the last quarter. Mather Group LLC. grew 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 worth $49,000 after buying an additional 369 shares during the last quarter. Exchange Traded Concepts LLC acquired a new position in Fomento Económico Mexicano during the fourth quarter worth approximately $51,000. Rosenberg Matthew Hamilton lifted 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. Finally, UMB Bank n.a. boosted its holdings in shares of 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 acquiring an additional 203 shares during the period. Institutional investors and hedge funds own 61.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. UBS Group lifted their target price on shares of Fomento Económico Mexicano from $94.00 to $107.00 and gave the company a “neutral” rating in a report on Friday, March 14th. Barclays upped their price objective on Fomento Económico Mexicano from $99.00 to $102.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 4th. Itau BBA Securities upgraded Fomento Económico Mexicano from a “market perform” rating to an “outperform” rating in a research note on Monday, April 7th. Finally, The Goldman Sachs Group cut 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. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $103.95.

Fomento Económico Mexicano Stock Up 2.4 %

Fomento Económico Mexicano stock opened at $103.86 on Thursday. The stock’s 50 day moving average price is $95.49 and its 200 day moving average price is $92.13. The company has a market cap of $37.16 billion, a PE ratio of 26.63, a price-to-earnings-growth ratio of 5.26 and a beta of 0.68. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.62 and a quick ratio of 1.32. Fomento Económico Mexicano, S.A.B. de C.V. has a 1-year low of $81.08 and a 1-year high of $123.09.

Fomento Económico Mexicano (NYSE:FMX) last announced its quarterly earnings results on Thursday, February 27th. The company reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.51 by ($1.05). Fomento Económico Mexicano had a net margin of 3.22% and a return on equity of 8.37%. The company had revenue of $9.99 billion during the quarter, compared to analysts’ expectations of $201.67 billion. On average, sell-side analysts predict that Fomento Económico Mexicano, S.A.B. de C.V. will post 5.32 EPS for the current fiscal year.

Fomento Económico Mexicano Increases Dividend

The company also recently declared a dividend, which will be paid on Monday, May 5th. Investors of record on Friday, April 25th will be issued a $1.628 dividend. The ex-dividend date of this dividend is Thursday, April 24th. This represents a dividend yield of 1.57%. This is a boost from Fomento Económico Mexicano’s previous dividend of $0.92. Fomento Económico Mexicano’s dividend payout ratio is currently 11.03%.

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.