State of New Jersey Common Pension Fund D Trims Stock Position in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

State of New Jersey Common Pension Fund D decreased its position in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) by 25.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 183,798 shares of the company’s stock after selling 61,702 shares during the period. State of New Jersey Common Pension Fund D owned 0.05% of Fomento Económico Mexicano worth $19,786,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Headlands Technologies LLC increased its stake in Fomento Económico Mexicano by 243.2% during the second quarter. Headlands Technologies LLC now owns 17,981 shares of the company’s stock worth $1,936,000 after acquiring an additional 12,742 shares during the last quarter. Choreo LLC purchased a new position in shares of Fomento Económico Mexicano during the 2nd quarter worth $2,135,000. National Bank of Canada FI increased its position in shares of Fomento Económico Mexicano by 88.1% during the 2nd quarter. National Bank of Canada FI now owns 216,766 shares of the company’s stock worth $23,495,000 after purchasing an additional 101,500 shares during the last quarter. Fielder Capital Group LLC purchased a new stake in Fomento Económico Mexicano in the 2nd quarter valued at about $242,000. Finally, Whittier Trust Co. of Nevada Inc. lifted its position in Fomento Económico Mexicano by 24.6% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 2,275 shares of the company’s stock valued at $245,000 after buying an additional 449 shares during the last quarter.

Fomento Económico Mexicano Trading Up 1.8 %

NYSE FMX opened at $103.23 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.44 and a current ratio of 1.72. The firm has a market cap of $36.93 billion, a price-to-earnings ratio of 27.98, a PEG ratio of 3.68 and a beta of 0.94. The firm has a 50 day simple moving average of $109.24 and a 200-day simple moving average of $115.42. Fomento Económico Mexicano, S.A.B. de C.V. has a one year low of $99.24 and a one year high of $143.43.

Fomento Económico Mexicano (NYSE:FMX) last posted its quarterly earnings results on Wednesday, July 24th. The company reported $1.87 EPS for the quarter. Fomento Económico Mexicano had a net margin of 3.75% and a return on equity of 8.65%. The business had revenue of $11.54 billion during the quarter. Equities research analysts anticipate 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 a semi-annual dividend, which was paid on Monday, July 29th. Shareholders of record on Wednesday, July 17th were issued a dividend of $1.0206 per share. This is an increase from Fomento Económico Mexicano’s previous semi-annual dividend of $0.74. The ex-dividend date of this dividend was Wednesday, July 17th. This represents a yield of 1.5%. Fomento Económico Mexicano’s dividend payout ratio is 14.36%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on FMX shares. StockNews.com raised shares of Fomento Económico Mexicano from a “hold” rating to a “buy” rating in a research note on Thursday, August 29th. Barclays cut their target price on Fomento Económico Mexicano from $160.00 to $145.00 and set an “overweight” rating on the stock in a research report on Monday, July 15th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $139.50.

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.