Raymond James Financial Inc. Makes New $813,000 Investment in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Raymond James Financial Inc. purchased a new stake in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) in the fourth quarter, Holdings Channel reports. The institutional investor purchased 9,510 shares of the company’s stock, valued at approximately $813,000.

Other hedge funds also recently modified their holdings of the company. Brooklyn Investment Group increased its holdings in Fomento Económico Mexicano by 82.8% in the 4th quarter. Brooklyn Investment Group now owns 340 shares of the company’s stock worth $29,000 after purchasing an additional 154 shares in the last quarter. Mather Group LLC. boosted its stake in shares of Fomento Económico Mexicano by 179.1% during the fourth quarter. Mather Group LLC. now owns 575 shares of the company’s stock valued at $49,000 after purchasing an additional 369 shares in the last quarter. Exchange Traded Concepts LLC bought a new stake in shares of Fomento Económico Mexicano during the fourth quarter worth about $51,000. Rosenberg Matthew Hamilton increased its stake in shares of Fomento Económico Mexicano by 30.2% in the fourth quarter. Rosenberg Matthew Hamilton now owns 758 shares of the company’s stock valued at $65,000 after buying an additional 176 shares during the period. Finally, UMB Bank n.a. raised its holdings in Fomento Económico Mexicano by 29.7% in the 4th quarter. UMB Bank n.a. now owns 887 shares of the company’s stock valued at $76,000 after buying an additional 203 shares during the last quarter. Institutional investors and hedge funds own 61.00% of the company’s stock.

Fomento Económico Mexicano Trading Down 4.6 %

FMX opened at $96.77 on Friday. Fomento Económico Mexicano, S.A.B. de C.V. has a twelve month low of $81.08 and a twelve month high of $130.00. The company has a fifty day moving average of $93.27 and a 200-day moving average of $92.23. The stock has a market cap of $34.62 billion, a PE ratio of 24.81, a price-to-earnings-growth ratio of 5.26 and a beta of 0.68. The company has a quick ratio of 1.32, a current ratio of 1.62 and a debt-to-equity ratio of 0.37.

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 analysts’ consensus estimates of $1.51 by ($1.05). The firm had revenue of $9.99 billion for the quarter, compared to the consensus estimate of $201.67 billion. Fomento Económico Mexicano had a net margin of 3.22% and a return on equity of 8.37%. On average, sell-side analysts predict 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 company also recently disclosed a dividend, which was paid on Friday, January 17th. Shareholders of record on Friday, January 17th were paid a $0.9201 dividend. The ex-dividend date of this dividend was Friday, January 17th. This is a boost from Fomento Económico Mexicano’s previous dividend of $0.74. Fomento Económico Mexicano’s dividend payout ratio (DPR) is 11.03%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on FMX shares. Barclays raised their price target 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. The Goldman Sachs Group lowered their target price on Fomento Económico Mexicano from $109.00 to $97.80 and set a “buy” rating for the company in a research report on Tuesday, January 28th. Finally, UBS Group upped their price target on Fomento Económico Mexicano from $94.00 to $107.00 and gave the company a “neutral” rating in a research report on Friday, March 14th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Fomento Económico Mexicano has an average rating of “Hold” and a consensus target price of $103.95.

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.