State of New Jersey Common Pension Fund D Has $32 Million Stock Holdings in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

State of New Jersey Common Pension Fund D raised its holdings in shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) by 0.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 245,500 shares of the company’s stock after acquiring an additional 947 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Fomento Económico Mexicano were worth $32,001,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. SG Americas Securities LLC increased its holdings in Fomento Económico Mexicano by 8.1% in the third quarter. SG Americas Securities LLC now owns 6,751 shares of the company’s stock valued at $737,000 after purchasing an additional 507 shares during the last quarter. Caprock Group LLC grew its position in shares of Fomento Económico Mexicano by 11.5% during the 3rd quarter. Caprock Group LLC now owns 3,707 shares of the company’s stock worth $405,000 after buying an additional 381 shares during the period. Northcape Capital Pty Ltd increased its stake in shares of Fomento Económico Mexicano by 49.8% in the 3rd quarter. Northcape Capital Pty Ltd now owns 180,229 shares of the company’s stock valued at $19,672,000 after acquiring an additional 59,926 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its stake in Fomento Económico Mexicano by 53.4% in the third quarter. Robeco Institutional Asset Management B.V. now owns 735,876 shares of the company’s stock valued at $80,321,000 after purchasing an additional 256,300 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Fomento Económico Mexicano by 19.8% in the third quarter. Bank of New York Mellon Corp now owns 60,503 shares of the company’s stock worth $6,604,000 after purchasing an additional 10,006 shares during the period.

Analysts Set New Price Targets

Several brokerages have recently issued reports on FMX. Bank of America reissued a “neutral” rating on shares of Fomento Económico Mexicano in a report on Monday, February 26th. HSBC upgraded Fomento Económico Mexicano from a “hold” rating to a “buy” rating and boosted their price objective for the company from $124.00 to $152.00 in a research report on Friday, February 9th. UBS Group downgraded shares of Fomento Económico Mexicano from a “buy” rating to a “neutral” rating in a report on Friday, January 12th. Finally, StockNews.com cut shares of Fomento Económico Mexicano from a “buy” rating to a “hold” rating in a report 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’s stock. Based on data from MarketBeat.com, Fomento Económico Mexicano currently has an average rating of “Hold” and a consensus target price of $135.75.

Fomento Económico Mexicano Stock Up 3.3 %

Shares of NYSE FMX traded up $3.81 during midday trading on Friday, reaching $118.92. The company’s stock had a trading volume of 1,229,201 shares, compared to its average volume of 709,386. The stock has a 50 day simple moving average of $125.25 and a 200-day simple moving average of $125.29. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.91 and a quick ratio of 1.60. 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.

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

Fomento Económico Mexicano Increases Dividend

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