Sequoia Financial Advisors LLC Has $2.74 Million Stock Position in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Sequoia Financial Advisors LLC lifted its position in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) by 288.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,023 shares of the company’s stock after buying an additional 15,615 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Fomento Económico Mexicano were worth $2,740,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in FMX. Baillie Gifford & Co. lifted its stake in 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 acquiring an additional 1,343,165 shares during the last quarter. BlackRock Inc. increased its stake in shares of Fomento Económico Mexicano by 11.0% during the 3rd quarter. BlackRock Inc. now owns 3,056,875 shares of the company’s stock worth $191,820,000 after purchasing an additional 302,363 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Fomento Económico Mexicano by 11.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,880,584 shares of the company’s stock worth $205,266,000 after purchasing an additional 193,543 shares during the last quarter. Deutsche Bank AG increased its stake in shares of Fomento Económico Mexicano by 4.0% during the 1st quarter. Deutsche Bank AG now owns 875,852 shares of the company’s stock worth $83,372,000 after purchasing an additional 33,900 shares during the last quarter. Finally, FMR LLC increased its stake in shares of Fomento Económico Mexicano by 49.8% during the 3rd quarter. FMR LLC now owns 861,598 shares of the company’s stock worth $94,043,000 after purchasing an additional 286,254 shares during the last quarter.

Fomento Económico Mexicano Stock Performance

Shares of FMX opened at $125.40 on Friday. Fomento Económico Mexicano, S.A.B. de C.V. has a 52 week low of $91.71 and a 52 week high of $143.43. The firm’s 50-day simple moving average is $129.53 and its 200 day simple moving average is $124.52. The company has a current ratio of 1.91, a quick ratio of 1.60 and a debt-to-equity ratio of 0.33.

Fomento Económico Mexicano (NYSE:FMX) last announced its quarterly earnings results on Friday, February 23rd. The company reported $1.07 EPS for the quarter. The business had revenue of $11.23 billion for the quarter, compared to analyst estimates of $11.21 billion. Fomento Económico Mexicano had a net margin of 8.53% and a return on equity of 9.63%. Sell-side analysts forecast that Fomento Económico Mexicano, S.A.B. de C.V. will post 5.7 EPS for the current fiscal year.

Fomento Económico Mexicano Increases Dividend

The company also recently declared an annual dividend, which will be paid on Monday, April 29th. Stockholders of record on Wednesday, April 17th will be issued a dividend of $1.115 per share. This represents a dividend yield of 0.87%. The ex-dividend date of this dividend is Tuesday, April 16th. This is an increase from Fomento Económico Mexicano’s previous annual dividend of $0.74. Fomento Económico Mexicano’s dividend payout ratio is 17.39%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on FMX. Bank of America restated a “neutral” rating on shares of Fomento Económico Mexicano in a research note on Monday, February 26th. HSBC upgraded shares of Fomento Económico Mexicano from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $124.00 to $152.00 in a research note on Friday, February 9th. StockNews.com lowered shares of Fomento Económico Mexicano from a “buy” rating to a “hold” rating in a research note on Monday, February 26th. Finally, UBS Group lowered shares of Fomento Económico Mexicano from a “buy” rating to a “neutral” rating in a research note on Friday, January 12th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company 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.