Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) Shares Bought by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board lifted its holdings in shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) by 279.8% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 146,600 shares of the company’s stock after purchasing an additional 108,000 shares during the quarter. Canada Pension Plan Investment Board’s holdings in Fomento Económico Mexicano were worth $15,781,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Park Place Capital Corp grew its holdings in Fomento Económico Mexicano by 78.2% in the 1st quarter. Park Place Capital Corp now owns 221 shares of the company’s stock valued at $29,000 after buying an additional 97 shares during the period. Mather Group LLC. purchased a new stake in Fomento Económico Mexicano in the first quarter valued at approximately $34,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in Fomento Económico Mexicano during the second quarter worth approximately $51,000. Parallel Advisors LLC raised its stake in Fomento Económico Mexicano by 22.1% during the fourth quarter. Parallel Advisors LLC now owns 741 shares of the company’s stock worth $97,000 after purchasing an additional 134 shares during the period. Finally, CWM LLC boosted its holdings in shares of Fomento Económico Mexicano by 28.7% in the 2nd quarter. CWM LLC now owns 956 shares of the company’s stock valued at $103,000 after purchasing an additional 213 shares during the last quarter.

Fomento Económico Mexicano Trading Up 0.6 %

Shares of FMX opened at $100.33 on Tuesday. Fomento Económico Mexicano, S.A.B. de C.V. has a 12 month low of $98.97 and a 12 month high of $143.43. The stock’s 50-day moving average is $107.71 and its two-hundred day moving average is $114.33. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.72 and a quick ratio of 1.44. The stock has a market cap of $35.90 billion, a PE ratio of 27.19, a P/E/G ratio of 5.75 and a beta of 0.94.

Fomento Económico Mexicano (NYSE:FMX) last released its quarterly earnings results on Wednesday, July 24th. The company reported $1.87 EPS for the quarter. Fomento Económico Mexicano had a return on equity of 8.65% and a net margin of 3.75%. The firm had revenue of $11.54 billion for the quarter. Equities analysts forecast that Fomento Económico Mexicano, S.A.B. de C.V. will post 5.44 earnings per share for the current fiscal year.

Fomento Económico Mexicano Increases Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Monday, July 29th. Shareholders of record on Wednesday, July 17th were given a $1.0206 dividend. This is a boost from Fomento Económico Mexicano’s previous semi-annual dividend of $0.74. This represents a yield of 1.5%. The ex-dividend date of this dividend was Wednesday, July 17th. Fomento Económico Mexicano’s dividend payout ratio is presently 14.36%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on FMX shares. StockNews.com lowered Fomento Económico Mexicano from a “buy” rating to a “hold” rating in a research report on Monday. JPMorgan Chase & Co. downgraded Fomento Económico Mexicano from an “overweight” rating to a “neutral” rating and raised their price objective for the stock from $104.00 to $109.00 in a report on Monday. Finally, Barclays decreased their target price on Fomento Económico Mexicano from $160.00 to $145.00 and set an “overweight” rating for the company in a report on Monday, July 15th. Six 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.com, the company currently has a consensus rating of “Hold” and an average target price of $133.40.

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.