Blue Trust Inc. Buys 948 Shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Blue Trust Inc. lifted its position in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) by 14.1% during the 4th quarter, HoldingsChannel reports. The firm owned 7,686 shares of the company’s stock after acquiring an additional 948 shares during the quarter. Blue Trust Inc.’s holdings in Fomento Económico Mexicano were worth $657,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Exchange Traded Concepts LLC purchased a new stake in Fomento Económico Mexicano during the fourth quarter valued at $51,000. SG Americas Securities LLC raised its position in shares of Fomento Económico Mexicano by 52.8% during the 4th quarter. SG Americas Securities LLC now owns 3,992 shares of the company’s stock valued at $341,000 after buying an additional 1,379 shares in the last quarter. Atomi Financial Group Inc. lifted its holdings in shares of Fomento Económico Mexicano by 13.5% in the 4th quarter. Atomi Financial Group Inc. now owns 2,800 shares of the company’s stock valued at $239,000 after acquiring an additional 334 shares during the last quarter. Perpetual Ltd grew its position in Fomento Económico Mexicano by 23.8% in the fourth quarter. Perpetual Ltd now owns 924,669 shares of the company’s stock worth $79,050,000 after acquiring an additional 177,843 shares in the last quarter. Finally, Crossmark Global Holdings Inc. increased its stake in Fomento Económico Mexicano by 9.2% during the fourth quarter. Crossmark Global Holdings Inc. now owns 20,382 shares of the company’s stock worth $1,743,000 after acquiring an additional 1,717 shares during the last quarter. 61.00% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on FMX shares. Barclays cut Fomento Económico Mexicano from an “overweight” rating to an “equal weight” rating in a report on Tuesday, January 21st. StockNews.com upgraded shares of Fomento Económico Mexicano from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th. Finally, 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 research note on Tuesday. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $119.20.

Fomento Económico Mexicano Price Performance

FMX opened at $87.24 on Friday. The company has a quick ratio of 1.32, a current ratio of 1.62 and a debt-to-equity ratio of 0.37. The business has a fifty day moving average of $86.28 and a 200 day moving average of $97.06. 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 stock has a market cap of $31.21 billion, a P/E ratio of 22.37, a PEG ratio of 4.87 and a beta of 0.90.

Fomento Económico Mexicano Increases Dividend

The business also recently declared a dividend, which was paid on Friday, January 17th. Investors of record on Friday, January 17th were paid a $0.9201 dividend. The ex-dividend date was Friday, January 17th. This is an increase from Fomento Económico Mexicano’s previous dividend of $0.74. Fomento Económico Mexicano’s dividend payout ratio (DPR) is currently 20.26%.

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.