Baillie Gifford & Co. Acquires 18,750 Shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Baillie Gifford & Co. raised its holdings in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) by 0.4% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 4,325,489 shares of the company’s stock after purchasing an additional 18,750 shares during the quarter. Baillie Gifford & Co.’s holdings in Fomento Económico Mexicano were worth $369,786,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Blue Trust Inc. increased its stake in shares of Fomento Económico Mexicano by 71.1% during the third quarter. Blue Trust Inc. now owns 6,738 shares of the company’s stock worth $725,000 after purchasing an additional 2,801 shares during the period. Carrhae Capital LLP increased its stake in shares of Fomento Económico Mexicano by 46.0% during the third quarter. Carrhae Capital LLP now owns 440,036 shares of the company’s stock worth $43,436,000 after purchasing an additional 138,540 shares during the period. Whittier Trust Co. of Nevada Inc. increased its stake in shares of Fomento Económico Mexicano by 9.0% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 2,479 shares of the company’s stock worth $245,000 after purchasing an additional 204 shares during the period. International Assets Investment Management LLC bought a new position in shares of Fomento Económico Mexicano during the third quarter worth approximately $2,991,000. Finally, Assenagon Asset Management S.A. increased its stake in shares of Fomento Económico Mexicano by 201.8% during the third quarter. Assenagon Asset Management S.A. now owns 55,822 shares of the company’s stock worth $5,510,000 after purchasing an additional 37,325 shares during the period. Institutional investors own 61.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on FMX shares. The Goldman Sachs Group lowered their target price on Fomento Económico Mexicano from $109.00 to $97.80 and set a “buy” rating on the stock in a research note on Tuesday, January 28th. StockNews.com raised Fomento Económico Mexicano from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th. Finally, Barclays downgraded Fomento Económico Mexicano from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, January 21st. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Fomento Económico Mexicano currently has an average rating of “Hold” and a consensus target price of $108.27.

Fomento Económico Mexicano Trading Up 1.5 %

Shares of NYSE:FMX opened at $91.10 on Monday. The company has a market capitalization of $32.59 billion, a P/E ratio of 23.36, a P/E/G ratio of 5.18 and a beta of 0.90. Fomento Económico Mexicano, S.A.B. de C.V. has a 1 year low of $81.07 and a 1 year high of $143.43. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.62 and a quick ratio of 1.32. The business’s 50 day simple moving average is $86.08 and its 200 day simple moving average is $94.86.

Fomento Económico Mexicano Increases Dividend

The firm also recently announced a dividend, which was paid on Friday, January 17th. Shareholders of record on Friday, January 17th were issued 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 11.79%.

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.