Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) Stake Boosted by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D increased its stake in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) by 0.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 245,500 shares of the company’s stock after purchasing an additional 947 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Fomento Económico Mexicano were worth $32,001,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. SG Americas Securities LLC lifted its stake in Fomento Económico Mexicano by 8.1% in the third quarter. SG Americas Securities LLC now owns 6,751 shares of the company’s stock valued at $737,000 after buying an additional 507 shares during the last quarter. Caprock Group LLC lifted its position in Fomento Económico Mexicano by 11.5% in the 3rd quarter. Caprock Group LLC now owns 3,707 shares of the company’s stock valued at $405,000 after purchasing an additional 381 shares during the last quarter. Northcape Capital Pty Ltd boosted its stake in Fomento Económico Mexicano by 49.8% during the 3rd quarter. Northcape Capital Pty Ltd now owns 180,229 shares of the company’s stock valued at $19,672,000 after purchasing an additional 59,926 shares during the period. Robeco Institutional Asset Management B.V. grew its position in Fomento Económico Mexicano by 53.4% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 735,876 shares of the company’s stock worth $80,321,000 after purchasing an additional 256,300 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Fomento Económico Mexicano by 19.8% in the third quarter. Bank of New York Mellon Corp now owns 60,503 shares of the company’s stock valued at $6,604,000 after purchasing an additional 10,006 shares during the period.

Analyst Upgrades and Downgrades

FMX has been the subject of several analyst reports. UBS Group downgraded Fomento Económico Mexicano from a “buy” rating to a “neutral” rating in a research report on Friday, January 12th. Bank of America reissued a “neutral” rating on shares of Fomento Económico Mexicano in a research note on Monday, February 26th. StockNews.com lowered Fomento Económico Mexicano from a “buy” rating to a “hold” rating in a report on Monday, February 26th. Finally, HSBC raised shares of Fomento Económico Mexicano from a “hold” rating to a “buy” rating and upped their price objective for the stock from $124.00 to $152.00 in a report on Friday, February 9th. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $135.75.

Fomento Económico Mexicano Stock Up 3.3 %

Shares of FMX stock traded up $3.81 during mid-day trading on Friday, hitting $118.92. 1,229,201 shares of the stock traded hands, compared to its average volume of 709,386. Fomento Económico Mexicano, S.A.B. de C.V. has a twelve month low of $91.71 and a twelve month high of $143.43. The company has a quick ratio of 1.60, a current ratio of 1.91 and a debt-to-equity ratio of 0.33. The company’s 50-day simple moving average is $125.25 and its 200-day simple moving average is $125.29.

Fomento Económico Mexicano (NYSE:FMX) last released its earnings results on Friday, February 23rd. The company reported $1.07 earnings per share (EPS) for the quarter. Fomento Económico Mexicano had a return on equity of 9.63% and a net margin of 8.53%. The firm had revenue of $11.23 billion for the quarter, compared to analyst estimates of $11.21 billion. Equities research 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 firm also recently announced an annual dividend, which will be paid on Monday, April 29th. Investors of record on Wednesday, April 17th will be issued a dividend of $1.115 per share. This represents a yield of 0.87%. This is a boost from Fomento Económico Mexicano’s previous annual dividend of $0.74. The ex-dividend date is Tuesday, April 16th. Fomento Económico Mexicano’s dividend payout ratio (DPR) is presently 6.11%.

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.