39,105 Shares in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) Purchased by International Assets Investment Management LLC

International Assets Investment Management LLC acquired a new position in shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) in the fourth quarter, HoldingsChannel reports. The firm acquired 39,105 shares of the company’s stock, valued at approximately $5,097,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in FMX. Baillie Gifford & Co. grew its holdings in 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 buying an additional 1,350,922 shares during the period. JPMorgan Chase & Co. grew its holdings in Fomento Económico Mexicano by 11.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,880,584 shares of the company’s stock valued at $205,266,000 after buying an additional 193,543 shares during the period. FMR LLC grew its holdings in 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 buying an additional 286,254 shares during the period. Acadian Asset Management LLC grew its holdings in 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 buying an additional 631,270 shares during the period. Finally, Black Creek Investment Management Inc. grew its holdings in Fomento Económico Mexicano by 10.1% in the 3rd quarter. Black Creek Investment Management Inc. now owns 774,625 shares of the company’s stock valued at $84,550,000 after buying an additional 71,093 shares during the period.

Wall Street Analyst Weigh In

FMX has been the subject of several recent analyst reports. StockNews.com cut Fomento Económico Mexicano from a “buy” rating to a “hold” rating in a report on Monday, February 26th. Bank of America reiterated a “neutral” rating on shares of Fomento Económico Mexicano in a report on Monday, February 26th. UBS Group cut Fomento Económico Mexicano from a “buy” rating to a “neutral” rating in a report on Friday, January 12th. Finally, HSBC upgraded Fomento Económico Mexicano from a “hold” rating to a “buy” rating and boosted their target price 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 given a buy rating to the stock. Based on data from MarketBeat.com, Fomento Económico Mexicano currently has an average rating of “Hold” and a consensus price target of $135.75.

Fomento Económico Mexicano Stock Down 0.4 %

Fomento Económico Mexicano stock opened at $119.39 on Thursday. The stock’s 50 day moving average price is $123.73 and its 200 day moving average price is $126.34. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.95 and a quick ratio of 1.63. Fomento Económico Mexicano, S.A.B. de C.V. has a one year low of $95.49 and a one year high of $143.43.

Fomento Económico Mexicano (NYSE:FMX) last released its quarterly earnings results on Friday, February 23rd. The company reported $1.07 EPS for the quarter. The firm had revenue of $11.23 billion for the quarter, compared to analyst estimates of $11.21 billion. Fomento Económico Mexicano had a return on equity of 8.20% and a net margin of 2.91%. Research analysts forecast 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 declared an annual dividend, which was paid on Monday, April 29th. Investors of record on Wednesday, April 17th were given a dividend of $1.115 per share. The ex-dividend date of this dividend was Tuesday, April 16th. This is a positive change from Fomento Económico Mexicano’s previous annual dividend of $0.74. This represents a yield of 0.87%. Fomento Económico Mexicano’s payout ratio is 16.80%.

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.