Sumitomo Mitsui Trust Holdings Inc. Purchases New Holdings in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Sumitomo Mitsui Trust Holdings Inc. purchased a new stake in shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,800 shares of the company’s stock, valued at approximately $235,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Baillie Gifford & Co. grew its stake in shares of Fomento Económico Mexicano by 118.0% in the 3rd quarter. Baillie Gifford & Co. now owns 2,495,474 shares of the company’s stock valued at $272,381,000 after purchasing an additional 1,350,922 shares during the period. Acadian Asset Management LLC grew its stake in shares of Fomento Económico Mexicano by 284.7% in the 3rd 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. FMR LLC grew its stake in shares of Fomento Económico Mexicano by 49.8% in the 3rd 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. Robeco Institutional Asset Management B.V. grew its stake in shares of 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 valued at $80,321,000 after purchasing an additional 256,300 shares during the period. Finally, Sei Investments Co. boosted its holdings in shares of Fomento Económico Mexicano by 38.8% in the 3rd quarter. Sei Investments Co. now owns 770,049 shares of the company’s stock worth $84,051,000 after acquiring an additional 215,241 shares in the last quarter.

Fomento Económico Mexicano Stock Performance

FMX stock opened at $118.92 on Friday. The business’s fifty day moving average is $124.96 and its 200-day moving average is $125.39. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.91 and a quick ratio of 1.60. 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.

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

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on FMX shares. HSBC raised 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. Bank of America reaffirmed a “neutral” rating on shares of Fomento Económico Mexicano in a report on Monday, February 26th. UBS Group downgraded Fomento Económico Mexicano from a “buy” rating to a “neutral” rating in a report on Friday, January 12th. Finally, StockNews.com downgraded Fomento Económico Mexicano from a “buy” rating to a “hold” rating in a report on Monday, February 26th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $135.75.

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.