Cary Street Partners Financial LLC Invests $2.90 Million in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Cary Street Partners Financial LLC acquired a new stake in shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 33,882 shares of the company's stock, valued at approximately $2,897,000.

Other large investors have also recently made changes to their positions in the company. First Eagle Investment Management LLC boosted its stake in shares of Fomento Económico Mexicano by 20.5% during the 4th quarter. First Eagle Investment Management LLC now owns 12,655,733 shares of the company's stock worth $1,081,939,000 after purchasing an additional 2,150,913 shares during the period. Baillie Gifford & Co. raised its holdings in shares of Fomento Económico Mexicano by 0.4% in the fourth quarter. Baillie Gifford & Co. now owns 4,325,489 shares of the company's stock worth $369,786,000 after buying an additional 18,750 shares during the period. Schroder Investment Management Group lifted its stake in shares of Fomento Económico Mexicano by 20.4% during the 4th quarter. Schroder Investment Management Group now owns 4,228,299 shares of the company's stock worth $360,716,000 after acquiring an additional 717,666 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Fomento Económico Mexicano by 6.8% during the 4th quarter. JPMorgan Chase & Co. now owns 3,238,177 shares of the company's stock valued at $276,832,000 after acquiring an additional 205,981 shares during the period. Finally, FMR LLC grew its position in Fomento Económico Mexicano by 540.3% in the 4th quarter. FMR LLC now owns 3,147,544 shares of the company's stock valued at $269,084,000 after acquiring an additional 2,655,962 shares during the last quarter. 61.00% of the stock is currently owned by institutional investors.

Fomento Económico Mexicano Stock Down 3.5%

FMX stock traded down $3.56 during trading on Monday, hitting $98.48. 125,794 shares of the company's stock traded hands, compared to its average volume of 622,432. The firm has a market capitalization of $35.24 billion, a P/E ratio of 25.25, a PEG ratio of 5.26 and a beta of 0.69. Fomento Económico Mexicano, S.A.B. de C.V. has a 1 year low of $81.08 and a 1 year high of $123.09. The company has a quick ratio of 1.32, a current ratio of 1.62 and a debt-to-equity ratio of 0.37. The business has a fifty day simple moving average of $100.17 and a two-hundred day simple moving average of $92.75.

Fomento Económico Mexicano (NYSE:FMX - Get Free Report) last released its quarterly earnings results on Monday, April 28th. The company reported $0.45 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.07). Fomento Económico Mexicano had a return on equity of 8.37% and a net margin of 3.22%. The company had revenue of $9.65 billion during the quarter, compared to the consensus estimate of $194.75 billion. Sell-side 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 company also recently disclosed a dividend, which was paid on Monday, May 5th. Investors of record on Friday, April 25th were paid a dividend of $1.628 per share. This represents a dividend yield of 1.57%. The ex-dividend date was Thursday, April 24th. This is a positive change from Fomento Económico Mexicano's previous dividend of $0.92. Fomento Económico Mexicano's payout ratio is 11.41%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. The Goldman Sachs Group decreased 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. 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. Barclays boosted their price target on Fomento Económico Mexicano from $102.00 to $108.00 and gave the company an "equal weight" rating in a report on Monday. UBS Group raised 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, StockNews.com cut Fomento Económico Mexicano from a "buy" rating to a "hold" rating in a report on Wednesday, April 30th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $105.45.

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.