Fomento Economico Mexicano S.A.B. de C.V. $FMX Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D reduced its stake in Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) by 1.7% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 189,694 shares of the company’s stock after selling 3,358 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Fomento Economico Mexicano were worth $19,535,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Ethic Inc. grew its holdings in shares of Fomento Economico Mexicano by 7.9% in the second quarter. Ethic Inc. now owns 12,676 shares of the company’s stock valued at $1,293,000 after purchasing an additional 924 shares during the period. Whittier Trust Co. boosted its holdings in Fomento Economico Mexicano by 35.0% in the 2nd quarter. Whittier Trust Co. now owns 14,950 shares of the company’s stock valued at $1,540,000 after purchasing an additional 3,878 shares during the last quarter. INCA Investments LLC grew its stake in shares of Fomento Economico Mexicano by 106.1% in the 2nd quarter. INCA Investments LLC now owns 274,769 shares of the company’s stock valued at $28,296,000 after buying an additional 141,419 shares during the period. Naviter Wealth LLC acquired a new stake in shares of Fomento Economico Mexicano during the 2nd quarter worth approximately $293,000. Finally, Sequoia Financial Advisors LLC raised its position in shares of Fomento Economico Mexicano by 5.7% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 6,309 shares of the company’s stock valued at $650,000 after buying an additional 343 shares during the period. Hedge funds and other institutional investors own 61.00% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. JPMorgan Chase & Co. raised their target price on Fomento Economico Mexicano from $96.00 to $102.00 and gave the stock a “neutral” rating in a research note on Monday, October 20th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Fomento Economico Mexicano in a report on Saturday. Barclays cut their price objective on Fomento Economico Mexicano from $110.00 to $107.00 and set an “equal weight” rating for the company in a research report on Thursday, July 31st. UBS Group raised shares of Fomento Economico Mexicano from a “neutral” rating to a “buy” rating and decreased their target price for the company from $115.00 to $111.00 in a research report on Friday, September 19th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $97.00 target price (down previously from $132.00) on shares of Fomento Economico Mexicano in a research note on Tuesday, August 19th. Four analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $101.97.

Fomento Economico Mexicano Stock Performance

Shares of Fomento Economico Mexicano stock opened at $95.52 on Friday. The stock has a market capitalization of $34.18 billion, a price-to-earnings ratio of 32.49, a price-to-earnings-growth ratio of 5.59 and a beta of 0.72. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.34 and a quick ratio of 1.06. The business has a 50-day moving average of $92.03 and a 200 day moving average of $97.75. Fomento Economico Mexicano S.A.B. de C.V. has a 12 month low of $81.07 and a 12 month high of $108.74.

Fomento Economico Mexicano (NYSE:FMX) last issued its quarterly earnings results on Monday, July 28th. The company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.91 by ($0.49). Fomento Economico Mexicano had a return on equity of 5.32% and a net margin of 2.60%.The business had revenue of $11.27 billion for the quarter, compared to analyst estimates of $216.71 billion. As a group, sell-side analysts forecast that Fomento Economico Mexicano S.A.B. de C.V. will post 5.32 earnings per share for the current year.

Fomento Economico Mexicano Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 27th. Shareholders of record on Thursday, October 16th will be paid a $1.9982 dividend. This represents a $7.99 annualized dividend and a dividend yield of 8.4%. This is a positive change from Fomento Economico Mexicano’s previous quarterly dividend of $1.36. The ex-dividend date is Thursday, October 16th. Fomento Economico Mexicano’s payout ratio is presently 76.19%.

Fomento Economico 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.