Invesco Ltd. Buys 172,186 Shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Invesco Ltd. lifted its stake in shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX - Free Report) by 73.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 405,757 shares of the company's stock after buying an additional 172,186 shares during the quarter. Invesco Ltd. owned about 0.11% of Fomento Económico Mexicano worth $34,688,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the stock. Franklin Resources Inc. grew its stake in Fomento Económico Mexicano by 4.2% in the fourth quarter. Franklin Resources Inc. now owns 3,117 shares of the company's stock valued at $266,000 after acquiring an additional 125 shares during the period. Stifel Financial Corp grew its position in Fomento Económico Mexicano by 1.2% in the 3rd quarter. Stifel Financial Corp now owns 12,479 shares of the company's stock valued at $1,232,000 after purchasing an additional 149 shares during the period. Brooklyn Investment Group increased its stake in Fomento Económico Mexicano by 82.8% during the 4th quarter. Brooklyn Investment Group now owns 340 shares of the company's stock valued at $29,000 after purchasing an additional 154 shares in the last quarter. Rosenberg Matthew Hamilton raised its holdings in Fomento Económico Mexicano by 30.2% during the fourth quarter. Rosenberg Matthew Hamilton now owns 758 shares of the company's stock worth $65,000 after buying an additional 176 shares during the last quarter. Finally, UMB Bank n.a. raised its holdings in Fomento Económico Mexicano by 29.7% during the fourth quarter. UMB Bank n.a. now owns 887 shares of the company's stock worth $76,000 after buying an additional 203 shares during the last quarter. Institutional investors own 61.00% of the company's stock.

Fomento Económico Mexicano Stock Up 1.4 %

NYSE:FMX traded up $1.49 on Tuesday, hitting $105.99. The stock had a trading volume of 914,041 shares, compared to its average volume of 629,085. Fomento Económico Mexicano, S.A.B. de C.V. has a 1 year low of $81.08 and a 1 year high of $123.09. The firm's fifty day simple moving average is $96.86 and its two-hundred day simple moving average is $92.26. The stock has a market cap of $37.92 billion, a P/E ratio of 27.18, a price-to-earnings-growth ratio of 5.26 and a beta of 0.68. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.32 and a current ratio of 1.62.

Fomento Económico Mexicano (NYSE:FMX - Get Free Report) last issued its quarterly earnings results on Thursday, February 27th. The company reported $0.46 EPS for the quarter, missing analysts' consensus estimates of $1.51 by ($1.05). Fomento Económico Mexicano had a net margin of 3.22% and a return on equity of 8.37%. The business had revenue of $9.99 billion for the quarter, compared to analysts' expectations of $201.67 billion. Analysts predict that Fomento Económico Mexicano, S.A.B. de C.V. will post 5.32 earnings per share for the current year.

Fomento Económico Mexicano Increases Dividend

The business also recently declared a dividend, which will be paid on Monday, May 5th. Investors of record on Friday, April 25th will be issued a $1.628 dividend. This is an increase from Fomento Económico Mexicano's previous dividend of $0.92. This represents a dividend yield of 1.57%. The ex-dividend date is Thursday, April 24th. Fomento Económico Mexicano's payout ratio is 11.75%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Itau BBA Securities raised shares of Fomento Económico Mexicano from a "market perform" rating to an "outperform" rating in a research report on Monday, April 7th. UBS Group boosted their price objective on Fomento Económico Mexicano from $94.00 to $107.00 and gave the stock a "neutral" rating in a report on Friday, March 14th. The Goldman Sachs Group dropped their target price on Fomento Económico Mexicano from $109.00 to $97.80 and set a "buy" rating on the stock in a report on Tuesday, January 28th. Finally, Barclays upped their price target on Fomento Económico Mexicano from $99.00 to $102.00 and gave the stock an "equal weight" rating in a report on Tuesday, March 4th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $103.95.

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.