Perpetual Ltd Increases Holdings in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Perpetual Ltd increased its stake in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX - Free Report) by 9.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 746,826 shares of the company's stock after acquiring an additional 64,291 shares during the period. Perpetual Ltd owned approximately 0.21% of Fomento Económico Mexicano worth $73,719,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the business. Hawk Ridge Capital Management LP purchased a new position in shares of Fomento Económico Mexicano in the 4th quarter valued at $79,852,000. Healthcare of Ontario Pension Plan Trust Fund raised its position in Fomento Económico Mexicano by 740.2% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 472,200 shares of the company's stock valued at $50,832,000 after acquiring an additional 416,000 shares in the last quarter. Baillie Gifford & Co. lifted its stake in shares of Fomento Económico Mexicano by 9.0% in the 1st quarter. Baillie Gifford & Co. now owns 4,183,454 shares of the company's stock valued at $544,979,000 after purchasing an additional 344,815 shares during the period. Sustainable Growth Advisers LP boosted its position in Fomento Económico Mexicano by 122.8% during the first quarter. Sustainable Growth Advisers LP now owns 435,906 shares of the company's stock worth $56,785,000 after purchasing an additional 240,256 shares in the last quarter. Finally, Millennium Management LLC lifted its holdings in Fomento Económico Mexicano by 577.6% during the second quarter. Millennium Management LLC now owns 222,464 shares of the company's stock valued at $23,948,000 after purchasing an additional 189,632 shares in the last quarter.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Barclays lowered their price target on shares of Fomento Económico Mexicano from $160.00 to $145.00 and set an "overweight" rating on the stock in a research report on Monday, July 15th. StockNews.com downgraded Fomento Económico Mexicano from a "buy" rating to a "hold" rating in a research report on Monday, September 23rd. Finally, JPMorgan Chase & Co. cut Fomento Económico Mexicano from an "overweight" rating to a "neutral" rating and increased their price target for the stock from $104.00 to $109.00 in a report on Monday, September 23rd. Six equities 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, the stock currently has a consensus rating of "Hold" and a consensus price target of $133.40.

Fomento Económico Mexicano Trading Up 0.1 %

NYSE FMX traded up $0.13 during trading on Thursday, hitting $98.42. The stock had a trading volume of 271,647 shares, compared to its average volume of 689,666. The company has a quick ratio of 1.44, a current ratio of 1.72 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $35.21 billion, a PE ratio of 26.63, a PEG ratio of 5.75 and a beta of 0.94. The firm has a 50 day moving average price of $104.36 and a 200 day moving average price of $112.18. Fomento Económico Mexicano, S.A.B. de C.V. has a twelve month low of $97.58 and a twelve month high of $143.43.

Fomento Económico Mexicano (NYSE:FMX - Get Free Report) last announced its quarterly earnings data on Wednesday, July 24th. The company reported $1.87 earnings per share for the quarter. Fomento Económico Mexicano had a net margin of 3.75% and a return on equity of 8.65%. The firm had revenue of $11.54 billion during the quarter. As a group, equities research analysts forecast that Fomento Económico Mexicano, S.A.B. de C.V. will post 5.39 earnings per share for the current year.

Fomento Económico Mexicano Cuts Dividend

The business also recently declared an annual dividend, which will be paid on Monday, October 28th. Shareholders of record on Wednesday, October 16th will be given a $0.864 dividend. This represents a yield of 0.87%. The ex-dividend date of this dividend is Wednesday, October 16th. Fomento Económico Mexicano's dividend payout ratio is currently 23.31%.

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.