Russell Investments Group Ltd. Boosts Stock Position in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Russell Investments Group Ltd. lifted its holdings in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) by 6.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 220,207 shares of the company’s stock after purchasing an additional 13,358 shares during the quarter. Russell Investments Group Ltd.’s holdings in Fomento Económico Mexicano were worth $28,732,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Baillie Gifford & Co. grew its holdings 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 in the last quarter. JPMorgan Chase & Co. grew its holdings 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 in the last quarter. FMR LLC grew its holdings 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 in the last quarter. Acadian Asset Management LLC grew its holdings 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 in the last quarter. Finally, Black Creek Investment Management Inc. grew its holdings 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 valued at $84,550,000 after purchasing an additional 71,093 shares in the last quarter.

Wall Street Analysts Forecast Growth

FMX has been the subject of a number of analyst reports. Bank of America restated a “neutral” rating on shares of Fomento Económico Mexicano in a research report on Monday, February 26th. UBS Group downgraded Fomento Económico Mexicano from a “buy” rating to a “neutral” rating in a research report on Friday, January 12th. StockNews.com downgraded Fomento Económico Mexicano from a “buy” rating to a “hold” rating in a research report on Monday, February 26th. Finally, HSBC upgraded Fomento Económico Mexicano from a “hold” rating to a “buy” rating and raised their price target for the stock from $124.00 to $152.00 in a research report on Friday, February 9th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $135.75.

Fomento Económico Mexicano Stock Down 1.0 %

NYSE:FMX opened at $117.73 on Wednesday. Fomento Económico Mexicano, S.A.B. de C.V. has a twelve month low of $95.40 and a twelve month high of $143.43. The stock has a fifty day simple moving average of $124.37 and a 200-day simple moving average of $125.81. The company has a current ratio of 1.95, a quick ratio of 1.63 and a debt-to-equity ratio of 0.34.

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

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.