Aubrey Capital Management Ltd Acquires New Holdings in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Aubrey Capital Management Ltd bought a new position in shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 123,800 shares of the company’s stock, valued at approximately $16,137,000. Fomento Económico Mexicano accounts for 6.9% of Aubrey Capital Management Ltd’s investment portfolio, making the stock its 3rd biggest position.

A number of other institutional investors also recently modified their holdings of the company. Baillie Gifford & Co. raised its position in shares of Fomento Económico Mexicano by 53.8% in the fourth quarter. Baillie Gifford & Co. now owns 3,838,639 shares of the company’s stock valued at $500,367,000 after purchasing an additional 1,343,165 shares during the period. JPMorgan Chase & Co. raised its position in shares of Fomento Económico Mexicano by 11.5% in the third quarter. JPMorgan Chase & Co. now owns 1,880,584 shares of the company’s stock valued at $205,266,000 after purchasing an additional 193,543 shares during the period. FMR LLC raised its position in shares of Fomento Económico Mexicano by 49.8% in the third quarter. FMR LLC now owns 861,598 shares of the company’s stock valued at $94,043,000 after purchasing an additional 286,254 shares during the period. Acadian Asset Management LLC raised its position in shares of Fomento Económico Mexicano by 284.7% in the third quarter. Acadian Asset Management LLC now owns 852,977 shares of the company’s stock valued at $93,085,000 after purchasing an additional 631,270 shares during the period. Finally, Black Creek Investment Management Inc. grew its stake in shares of Fomento Económico Mexicano by 10.1% in the third quarter. Black Creek Investment Management Inc. now owns 774,625 shares of the company’s stock worth $84,550,000 after acquiring an additional 71,093 shares during the last quarter.

Analysts Set New Price Targets

Several brokerages have recently issued reports on FMX. HSBC upgraded shares of Fomento Económico Mexicano from a “hold” rating to a “buy” rating and raised their price objective for the stock from $124.00 to $152.00 in a research note on Friday, February 9th. UBS Group downgraded shares of Fomento Económico Mexicano from a “buy” rating to a “neutral” rating in a research note on Friday, January 12th. Bank of America restated a “neutral” rating on shares of Fomento Económico Mexicano in a research note on Monday, February 26th. Finally, StockNews.com downgraded shares of Fomento Económico Mexicano from a “buy” rating to a “hold” rating in a research note on Monday, February 26th. Five 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 a consensus rating of “Hold” and a consensus price target of $135.75.

Fomento Económico Mexicano Stock Performance

FMX traded up $3.82 during trading on Friday, reaching $118.93. 1,229,201 shares of the company’s stock were exchanged, compared to its average volume of 764,205. The company has a market capitalization of $42.56 billion, a P/E ratio of 11.18, a PEG ratio of 0.91 and a beta of 0.94. The business has a 50 day moving average price of $124.96 and a 200 day moving average price of $125.39. Fomento Económico Mexicano, S.A.B. de C.V. has a fifty-two week low of $91.71 and a fifty-two week 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.

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

Fomento Económico Mexicano Increases Dividend

The business also recently disclosed an annual dividend, which will be paid on Monday, April 29th. Shareholders of record on Wednesday, April 17th will be issued a dividend of $1.115 per share. The ex-dividend date is Tuesday, April 16th. This is a boost from Fomento Económico Mexicano’s previous annual dividend of $0.74. This represents a dividend yield of 0.87%. Fomento Económico Mexicano’s dividend payout ratio (DPR) is presently 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.