Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) Stake Raised by Summitry LLC

Summitry LLC boosted its holdings in shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) by 15.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,305 shares of the company’s stock after acquiring an additional 438 shares during the quarter. Summitry LLC’s holdings in Fomento Económico Mexicano were worth $283,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Cerity Partners LLC grew its position in Fomento Económico Mexicano by 2.0% during the third quarter. Cerity Partners LLC now owns 9,520 shares of the company’s stock valued at $940,000 after purchasing an additional 191 shares in the last quarter. Dynamic Technology Lab Private Ltd boosted its stake in shares of Fomento Económico Mexicano by 274.3% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 20,872 shares of the company’s stock valued at $2,060,000 after buying an additional 15,296 shares during the period. Mirabella Financial Services LLP purchased a new position in shares of Fomento Económico Mexicano during the 3rd quarter valued at $681,000. FMR LLC increased its stake in shares of Fomento Económico Mexicano by 5.3% in the third quarter. FMR LLC now owns 491,582 shares of the company’s stock worth $48,524,000 after acquiring an additional 24,537 shares during the last quarter. Finally, Quantbot Technologies LP raised its holdings in shares of Fomento Económico Mexicano by 333.7% during the third quarter. Quantbot Technologies LP now owns 6,687 shares of the company’s stock worth $660,000 after acquiring an additional 5,145 shares in the last quarter. Hedge funds and other institutional investors own 61.00% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on the company. 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 research report on Tuesday, January 28th. UBS Group increased 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. Finally, Barclays lifted their target price on shares of Fomento Económico Mexicano from $99.00 to $102.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 4th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $103.95.

Fomento Económico Mexicano Stock Up 0.6 %

FMX stock opened at $97.21 on Wednesday. Fomento Económico Mexicano, S.A.B. de C.V. has a 52-week low of $81.08 and a 52-week high of $131.56. 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 stock has a market capitalization of $34.78 billion, a price-to-earnings ratio of 24.93, a price-to-earnings-growth ratio of 5.26 and a beta of 0.87. The company has a 50-day moving average of $90.80 and a two-hundred day moving average of $92.36.

Fomento Económico Mexicano (NYSE:FMX) last issued its quarterly earnings results on Thursday, February 27th. The company reported $0.46 EPS for the quarter, missing the consensus estimate of $1.51 by ($1.05). The business had revenue of $9.99 billion during the quarter, compared to the consensus estimate of $201.67 billion. Fomento Económico Mexicano had a return on equity of 8.37% and a net margin of 3.22%. As a group, equities research analysts anticipate that Fomento Económico Mexicano, S.A.B. de C.V. will post 5.32 EPS for the current year.

Fomento Económico Mexicano Increases Dividend

The business also recently declared a dividend, which was paid on Friday, January 17th. Shareholders of record on Friday, January 17th were given a $0.9201 dividend. This is a positive change from Fomento Económico Mexicano’s previous dividend of $0.74. The ex-dividend date was Friday, January 17th. Fomento Económico Mexicano’s dividend payout ratio (DPR) is currently 11.03%.

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.