Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) Shares Purchased by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) by 51.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,282 shares of the company’s stock after purchasing an additional 1,119 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Fomento Económico Mexicano were worth $284,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in FMX. Baillie Gifford & Co. raised its position in shares of Fomento Económico Mexicano by 10.8% in the 3rd quarter. Baillie Gifford & Co. now owns 4,306,739 shares of the company’s stock worth $425,118,000 after buying an additional 421,057 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its stake in Fomento Económico Mexicano by 267.6% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 313,602 shares of the company’s stock worth $30,956,000 after acquiring an additional 228,284 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new position in shares of Fomento Económico Mexicano in the 3rd quarter worth about $19,856,000. Perpetual Ltd lifted its stake in shares of Fomento Económico Mexicano by 23.8% in the 4th quarter. Perpetual Ltd now owns 924,669 shares of the company’s stock valued at $79,050,000 after purchasing an additional 177,843 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its holdings in shares of Fomento Económico Mexicano by 107.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 326,302 shares of the company’s stock worth $32,209,000 after purchasing 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 0.8 %

Shares of NYSE:FMX opened at $89.75 on Friday. The company has a market capitalization of $32.11 billion, a price-to-earnings ratio of 23.01, a price-to-earnings-growth ratio of 5.18 and a beta of 0.90. The company has a 50 day moving average of $86.11 and a two-hundred day moving average of $95.12. Fomento Económico Mexicano, S.A.B. de C.V. has a 52-week low of $81.07 and a 52-week high of $143.43. 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 declared a dividend, which was paid on Friday, January 17th. Investors of record on Friday, January 17th were issued a dividend of $0.9201 per share. 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 (DPR) is presently 11.79%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Barclays cut shares of Fomento Económico Mexicano from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, January 21st. The Goldman Sachs Group reduced their target price on shares of Fomento Económico Mexicano from $109.00 to $97.80 and set a “buy” rating on the stock in a report on Tuesday, January 28th. Finally, StockNews.com upgraded Fomento Económico Mexicano from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Fomento Económico Mexicano presently has a consensus rating of “Hold” and a consensus target price of $108.27.

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.