1,606 Shares in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) Bought by OLD National Bancorp IN

OLD National Bancorp IN bought a new position in shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) in the fourth quarter, HoldingsChannel reports. The fund bought 1,606 shares of the company’s stock, valued at approximately $209,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of FMX. Operose Advisors LLC acquired a new position in Fomento Económico Mexicano in the third quarter valued at $29,000. Assetmark Inc. acquired a new position in Fomento Económico Mexicano in the third quarter valued at $36,000. Systematic Alpha Investments LLC acquired a new position in Fomento Económico Mexicano in the third quarter valued at $147,000. Whittier Trust Co. of Nevada Inc. boosted its stake in Fomento Económico Mexicano by 12.5% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 1,462 shares of the company’s stock valued at $160,000 after acquiring an additional 162 shares in the last quarter. Finally, Brown Advisory Inc. acquired a new position in Fomento Económico Mexicano in the third quarter valued at $203,000.

Analyst Ratings Changes

Several equities analysts have issued reports on FMX shares. UBS Group downgraded shares of Fomento Económico Mexicano from a “buy” rating to a “neutral” rating in a research note on Friday, January 12th. StockNews.com downgraded shares of Fomento Económico Mexicano from a “buy” rating to a “hold” rating in a research note on Monday, February 26th. HSBC upgraded shares of Fomento Económico Mexicano from a “hold” rating to a “buy” rating and increased their target price for the stock from $124.00 to $152.00 in a research note on Friday, February 9th. Finally, Bank of America reiterated a “neutral” rating on shares of Fomento Económico Mexicano in a research note on Monday, February 26th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $135.75.

Fomento Económico Mexicano Trading Up 3.3 %

Shares of FMX opened at $118.92 on Friday. Fomento Económico Mexicano, S.A.B. de C.V. has a fifty-two week low of $91.71 and a fifty-two week high of $143.43. The firm has a 50-day simple moving average of $124.96 and a 200-day simple moving average of $125.39. The company has a current ratio of 1.91, a quick ratio of 1.60 and a debt-to-equity ratio of 0.33.

Fomento Económico Mexicano (NYSE:FMX) last posted its quarterly earnings results on Friday, February 23rd. The company reported $1.07 earnings per share (EPS) for the quarter. The firm had revenue of $11.23 billion during the quarter, compared to analysts’ expectations of $11.21 billion. Fomento Económico Mexicano had a net margin of 8.53% and a return on equity of 9.63%. Equities analysts forecast that Fomento Económico Mexicano, S.A.B. de C.V. will post 5.52 EPS for the current year.

Fomento Económico Mexicano Increases Dividend

The company also recently declared an annual dividend, which will be paid on Monday, April 29th. Investors of record on Wednesday, April 17th will be issued a dividend of $1.115 per share. This is a boost from Fomento Económico Mexicano’s previous annual dividend of $0.74. This represents a yield of 0.87%. The ex-dividend date of this dividend is Tuesday, April 16th. Fomento Económico Mexicano’s dividend payout ratio is currently 6.11%.

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.