Blue Trust Inc. Purchases 2,801 Shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Blue Trust Inc. boosted its holdings in shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) by 71.1% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 6,738 shares of the company’s stock after acquiring an additional 2,801 shares during the quarter. Blue Trust Inc.’s holdings in Fomento Económico Mexicano were worth $725,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in shares of Fomento Económico Mexicano by 740.2% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 472,200 shares of the company’s stock valued at $50,832,000 after purchasing an additional 416,000 shares in the last quarter. Baillie Gifford & Co. raised its holdings in Fomento Económico Mexicano by 9.0% during the first quarter. Baillie Gifford & Co. now owns 4,183,454 shares of the company’s stock valued at $544,979,000 after buying an additional 344,815 shares in the last quarter. Sustainable Growth Advisers LP lifted its position in shares of Fomento Económico Mexicano by 122.8% in the first quarter. Sustainable Growth Advisers LP now owns 435,906 shares of the company’s stock worth $56,785,000 after buying an additional 240,256 shares during the last quarter. Millennium Management LLC boosted its stake in shares of Fomento Económico Mexicano by 577.6% during the 2nd quarter. Millennium Management LLC now owns 222,464 shares of the company’s stock worth $23,948,000 after acquiring an additional 189,632 shares in the last quarter. Finally, Employees Retirement System of Texas increased its holdings in shares of Fomento Económico Mexicano by 64.1% during the 2nd quarter. Employees Retirement System of Texas now owns 471,096 shares of the company’s stock valued at $50,713,000 after acquiring an additional 184,000 shares during the last quarter.

Fomento Económico Mexicano Stock Up 0.4 %

Shares of FMX stock opened at $98.25 on Tuesday. Fomento Económico Mexicano, S.A.B. de C.V. has a 12 month low of $95.84 and a 12 month high of $143.43. 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 firm has a market cap of $35.15 billion, a PE ratio of 26.63, a price-to-earnings-growth ratio of 5.60 and a beta of 0.94. The stock has a 50 day moving average of $102.54 and a 200-day moving average of $110.31.

Fomento Económico Mexicano (NYSE:FMX) last released its earnings results on Wednesday, July 24th. The company reported $1.87 EPS for the quarter. The firm had revenue of $11.54 billion during the quarter. Fomento Económico Mexicano had a net margin of 3.75% and a return on equity of 8.65%. On average, equities analysts predict that Fomento Económico Mexicano, S.A.B. de C.V. will post 5.41 EPS for the current year.

Fomento Económico Mexicano Cuts Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend is Wednesday, October 16th. This represents a dividend yield of 0.87%. Fomento Económico Mexicano’s dividend payout ratio is currently 23.31%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on FMX shares. StockNews.com upgraded Fomento Económico Mexicano from a “hold” rating to a “buy” rating in a report on Saturday. Barclays reduced their price objective on shares of Fomento Económico Mexicano from $145.00 to $125.00 and set an “overweight” rating for the company in a research note on Monday, October 14th. Finally, JPMorgan Chase & Co. lowered shares of Fomento Económico Mexicano from an “overweight” rating to a “neutral” rating and raised their target price for the company from $104.00 to $109.00 in a research note on Monday, September 23rd. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Fomento Económico Mexicano presently has an average rating of “Hold” and an average price target of $129.40.

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.