Lester Murray Antman dba SimplyRich Buys 922 Shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Lester Murray Antman dba SimplyRich grew its position in shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) by 21.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,267 shares of the company’s stock after purchasing an additional 922 shares during the quarter. Lester Murray Antman dba SimplyRich’s holdings in Fomento Económico Mexicano were worth $450,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Baillie Gifford & Co. raised its stake in Fomento Económico Mexicano by 10.8% during the third quarter. Baillie Gifford & Co. now owns 4,306,739 shares of the company’s stock worth $425,118,000 after buying an additional 421,057 shares during the last quarter. Perpetual Ltd grew its holdings in Fomento Económico Mexicano by 23.8% during the 4th quarter. Perpetual Ltd now owns 924,669 shares of the company’s stock worth $79,050,000 after acquiring an additional 177,843 shares during the period. Robeco Institutional Asset Management B.V. raised its position in shares of Fomento Económico Mexicano by 12.8% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 654,778 shares of the company’s stock worth $55,977,000 after acquiring an additional 74,082 shares in the last quarter. Ninety One UK Ltd lifted its stake in shares of Fomento Económico Mexicano by 3.9% in the 4th quarter. Ninety One UK Ltd now owns 644,148 shares of the company’s stock valued at $55,068,000 after purchasing an additional 23,902 shares during the period. Finally, FMR LLC boosted its position in shares of Fomento Económico Mexicano by 5.3% during the 3rd quarter. FMR LLC now owns 491,582 shares of the company’s stock valued at $48,524,000 after purchasing an additional 24,537 shares in the last quarter. Institutional investors and hedge funds own 61.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on FMX. Barclays downgraded Fomento Económico Mexicano from an “overweight” rating to an “equal weight” rating in a report on Tuesday, January 21st. The Goldman Sachs Group lowered their price objective on shares of 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. Finally, StockNews.com upgraded shares of Fomento Económico Mexicano from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $108.27.

Fomento Económico Mexicano Trading Up 0.7 %

NYSE FMX opened at $87.80 on Wednesday. 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 business has a 50 day moving average price of $86.18 and a 200-day moving average price of $95.31. The company has a market cap of $31.41 billion, a price-to-earnings ratio of 22.51, a P/E/G ratio of 5.18 and a beta of 0.90.

Fomento Económico Mexicano Increases Dividend

The firm also recently disclosed a dividend, which was paid on Friday, January 17th. Shareholders of record on Friday, January 17th were issued a dividend of $0.9201 per share. This is an increase 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 presently 11.79%.

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.