169,483 Shares in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) Acquired by New York State Common Retirement Fund

New York State Common Retirement Fund purchased a new position in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) during the fourth quarter, HoldingsChannel reports. The fund purchased 169,483 shares of the company’s stock, valued at approximately $22,092,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Morningstar Investment Services LLC grew its holdings in shares of Fomento Económico Mexicano by 2.0% in the 3rd quarter. Morningstar Investment Services LLC now owns 97,466 shares of the company’s stock worth $10,517,000 after acquiring an additional 1,902 shares during the period. Barclays PLC grew its holdings in shares of Fomento Económico Mexicano by 170.3% in the 3rd quarter. Barclays PLC now owns 17,782 shares of the company’s stock worth $1,941,000 after acquiring an additional 11,204 shares during the period. QRG Capital Management Inc. acquired a new stake in shares of Fomento Económico Mexicano in the 3rd quarter worth approximately $456,000. JPMorgan Chase & Co. grew its holdings in Fomento Económico Mexicano by 11.5% during 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 last quarter. Finally, Black Creek Investment Management Inc. grew its holdings in Fomento Económico Mexicano by 10.1% during 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 last quarter.

Fomento Económico Mexicano Trading Up 3.3 %

Shares of Fomento Económico Mexicano stock opened at $118.93 on Friday. Fomento Económico Mexicano, S.A.B. de C.V. has a fifty-two week low of $91.71 and a fifty-two week high of $143.43. The firm has a market cap of $42.56 billion, a PE ratio of 11.18, a P/E/G ratio of 0.91 and a beta of 0.94. The business’s fifty day moving average is $124.96 and its two-hundred day moving average is $125.52. The company has a quick ratio of 1.60, a current ratio of 1.91 and a debt-to-equity ratio of 0.33.

Fomento Económico Mexicano (NYSE:FMX) last issued its quarterly earnings results on Friday, April 26th. The company reported $0.47 earnings per share for the quarter. Fomento Económico Mexicano had a return on equity of 9.63% and a net margin of 8.53%. The company had revenue of $10.76 billion for the quarter. Analysts anticipate that Fomento Económico Mexicano, S.A.B. de C.V. will post 5.52 earnings per share for the current year.

Fomento Económico Mexicano Increases Dividend

The firm also recently declared an annual dividend, which will be paid on Monday, April 29th. Shareholders of record on Wednesday, April 17th will be paid a dividend of $1.115 per share. This represents a dividend yield of 0.87%. The ex-dividend date is Tuesday, April 16th. This is a positive change from Fomento Económico Mexicano’s previous annual dividend of $0.74. Fomento Económico Mexicano’s dividend payout ratio is currently 5.83%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. HSBC upgraded Fomento Económico Mexicano from a “hold” rating to a “buy” rating and increased their target price for the company from $124.00 to $152.00 in a report on Friday, February 9th. UBS Group cut Fomento Económico Mexicano from a “buy” rating to a “neutral” rating in a report on Friday, January 12th. Bank of America reiterated a “neutral” rating on shares of Fomento Económico Mexicano in a report on Monday, February 26th. Finally, StockNews.com cut 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 assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $135.75.

About Fomento Económico Mexicano

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.