Ninety One UK Ltd Acquires 23,902 Shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Ninety One UK Ltd grew its holdings in shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) by 3.9% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 644,148 shares of the company’s stock after purchasing an additional 23,902 shares during the quarter. Ninety One UK Ltd’s holdings in Fomento Económico Mexicano were worth $55,068,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Baillie Gifford & Co. boosted its stake in Fomento Económico Mexicano by 10.8% during the third quarter. Baillie Gifford & Co. now owns 4,306,739 shares of the company’s stock worth $425,118,000 after acquiring an additional 421,057 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in Fomento Económico Mexicano by 267.6% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 313,602 shares of the company’s stock valued at $30,956,000 after purchasing an additional 228,284 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new position in shares of Fomento Económico Mexicano during the third quarter valued at about $19,856,000. Perpetual Ltd boosted its position in shares of Fomento Económico Mexicano by 23.8% during the 4th quarter. Perpetual Ltd now owns 924,669 shares of the company’s stock worth $79,050,000 after purchasing an additional 177,843 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its stake in shares of Fomento Económico Mexicano by 107.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 326,302 shares of the company’s stock valued at $32,209,000 after buying an additional 169,184 shares during the period. Institutional investors and hedge funds own 61.00% of the company’s stock.

Fomento Económico Mexicano Stock Up 1.2 %

Shares of NYSE:FMX opened at $85.91 on Wednesday. The business’s 50 day moving average is $86.19 and its 200 day moving average is $96.27. Fomento Económico Mexicano, S.A.B. de C.V. has a 12-month low of $81.07 and a 12-month high of $143.43. The stock has a market cap of $30.74 billion, a price-to-earnings ratio of 22.03, a PEG ratio of 4.92 and a beta of 0.90. The company has a quick ratio of 1.32, a current ratio of 1.62 and a debt-to-equity ratio of 0.37.

Fomento Económico Mexicano Increases Dividend

The company also recently announced a dividend, which was paid on Friday, January 17th. Stockholders of record on Friday, January 17th were paid a $0.9201 dividend. This is a positive change from Fomento Económico Mexicano’s previous dividend of $0.74. The ex-dividend date was Friday, January 17th. Fomento Económico Mexicano’s dividend payout ratio is presently 11.79%.

Analyst Ratings Changes

Several research analysts have issued reports on FMX shares. StockNews.com upgraded Fomento Económico Mexicano from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. Barclays cut Fomento Económico Mexicano from an “overweight” rating to an “equal weight” rating in a report on Tuesday, January 21st. Finally, The Goldman Sachs Group reduced their price target on shares of Fomento Económico Mexicano from $109.00 to $97.80 and set a “buy” rating for the company in a research report on Tuesday, January 28th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Fomento Económico Mexicano currently has an average rating of “Moderate Buy” and a consensus target price of $119.20.

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.