OLD National Bancorp IN Invests $209,000 in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

OLD National Bancorp IN purchased a new position in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,606 shares of the company’s stock, valued at approximately $209,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of FMX. SG Americas Securities LLC raised its holdings in shares of Fomento Económico Mexicano by 8.1% in the third quarter. SG Americas Securities LLC now owns 6,751 shares of the company’s stock worth $737,000 after buying an additional 507 shares during the period. Caprock Group LLC raised its holdings in shares of Fomento Económico Mexicano by 11.5% in the third quarter. Caprock Group LLC now owns 3,707 shares of the company’s stock worth $405,000 after buying an additional 381 shares during the period. Northcape Capital Pty Ltd raised its holdings in shares of Fomento Económico Mexicano by 49.8% in the third quarter. Northcape Capital Pty Ltd now owns 180,229 shares of the company’s stock worth $19,672,000 after buying an additional 59,926 shares during the period. Robeco Institutional Asset Management B.V. raised its holdings in shares of Fomento Económico Mexicano by 53.4% in the third quarter. Robeco Institutional Asset Management B.V. now owns 735,876 shares of the company’s stock worth $80,321,000 after buying an additional 256,300 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings 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 worth $6,604,000 after buying an additional 10,006 shares during the period.

Fomento Económico Mexicano Stock Performance

Shares of NYSE FMX opened at $118.92 on Friday. 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 stock’s fifty day simple moving average is $124.96 and its two-hundred day simple moving average is $125.39. Fomento Económico Mexicano, S.A.B. de C.V. has a 12-month low of $91.71 and a 12-month high of $143.43.

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

Wall Street Analysts Forecast Growth

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

Fomento Económico 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.