Stifel Financial Corp Grows Position in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Stifel Financial Corp raised its position in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) by 11.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,864 shares of the company’s stock after purchasing an additional 1,385 shares during the quarter. Stifel Financial Corp’s holdings in Fomento Económico Mexicano were worth $1,185,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in FMX. BI Asset Management Fondsmaeglerselskab A S bought a new position in Fomento Económico Mexicano in the 4th quarter worth about $72,000. NewEdge Advisors LLC increased its holdings in Fomento Económico Mexicano by 9.7% during the 4th quarter. NewEdge Advisors LLC now owns 4,328 shares of the company’s stock worth $370,000 after purchasing an additional 382 shares during the period. Mariner LLC increased its holdings in Fomento Económico Mexicano by 3.1% during the 4th quarter. Mariner LLC now owns 22,335 shares of the company’s stock worth $1,909,000 after purchasing an additional 674 shares during the period. Barclays PLC raised its position in Fomento Económico Mexicano by 28.2% during the 4th quarter. Barclays PLC now owns 92,483 shares of the company’s stock valued at $7,907,000 after purchasing an additional 20,324 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of Fomento Económico Mexicano in the 4th quarter worth $813,000. Institutional investors own 61.00% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on FMX. Barclays lifted their price objective on Fomento Económico Mexicano from $99.00 to $102.00 and gave the company an “equal weight” rating in a report on Tuesday, March 4th. 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 increased their target price 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. StockNews.com lowered Fomento Económico Mexicano from a “buy” rating to a “hold” rating in a research report on Wednesday, April 30th. Finally, The Goldman Sachs Group dropped their price objective 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. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Fomento Económico Mexicano currently has an average rating of “Hold” and an average price target of $103.95.

Fomento Económico Mexicano Price Performance

Shares of FMX stock opened at $101.84 on Friday. Fomento Económico Mexicano, S.A.B. de C.V. has a fifty-two week low of $81.08 and a fifty-two week high of $123.09. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.32 and a current ratio of 1.62. The firm has a market capitalization of $36.44 billion, a price-to-earnings ratio of 26.11, a PEG ratio of 5.26 and a beta of 0.69. The stock’s 50-day simple moving average is $99.99 and its 200-day simple moving average is $92.79.

Fomento Económico Mexicano (NYSE:FMX) last issued its quarterly earnings results on Monday, April 28th. The company reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.07). Fomento Económico Mexicano had a net margin of 3.22% and a return on equity of 8.37%. The company had revenue of $9.65 billion for the quarter, compared to analyst estimates of $194.75 billion. As a group, equities analysts forecast that Fomento Económico Mexicano, S.A.B. de C.V. will post 5.32 earnings per share for the current fiscal year.

Fomento Económico Mexicano Increases Dividend

The company also recently disclosed a dividend, which was paid on Monday, May 5th. Stockholders of record on Friday, April 25th were issued a $1.628 dividend. The ex-dividend date of this dividend was Thursday, April 24th. This is a positive change from Fomento Económico Mexicano’s previous dividend of $0.92. This represents a dividend yield of 1.57%. Fomento Económico Mexicano’s dividend payout ratio is currently 11.41%.

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.