Crossmark Global Holdings Inc. grew its position in Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX - Free Report) by 29.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 26,359 shares of the company's stock after acquiring an additional 5,977 shares during the quarter. Crossmark Global Holdings Inc.'s holdings in Fomento Economico Mexicano were worth $2,572,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also made changes to their positions in the company. First Eagle Investment Management LLC grew its stake in Fomento Economico 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 buying an additional 2,150,913 shares during the last quarter. Royal Bank of Canada grew its stake in Fomento Economico Mexicano by 5.5% during the 4th quarter. Royal Bank of Canada now owns 5,269,083 shares of the company's stock worth $450,454,000 after buying an additional 274,467 shares during the last quarter. Schroder Investment Management Group grew its stake in shares of Fomento Economico Mexicano by 20.4% in the fourth quarter. Schroder Investment Management Group now owns 4,228,299 shares of the company's stock worth $360,716,000 after purchasing an additional 717,666 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Fomento Economico Mexicano by 6.8% during the fourth quarter. JPMorgan Chase & Co. now owns 3,238,177 shares of the company's stock valued at $276,832,000 after purchasing an additional 205,981 shares during the period. Finally, FMR LLC increased its holdings in shares of Fomento Economico Mexicano by 540.3% during the fourth quarter. FMR LLC now owns 3,147,544 shares of the company's stock valued at $269,084,000 after purchasing an additional 2,655,962 shares during the period. 61.00% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
Several research firms have commented on FMX. UBS Group raised their target price on shares of Fomento Economico Mexicano from $112.00 to $115.00 and gave the company a "neutral" rating in a research note on Thursday. Itau BBA Securities raised Fomento Economico Mexicano from a "market perform" rating to an "outperform" rating in a research note on Monday, April 7th. Barclays lifted their target price on Fomento Economico Mexicano from $102.00 to $108.00 and gave the stock an "equal weight" rating in a report on Monday, May 12th. Finally, Wall Street Zen lowered shares of Fomento Economico Mexicano from a "buy" rating to a "hold" rating in a research report on Wednesday, April 30th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $107.45.
Read Our Latest Report on Fomento Economico Mexicano
Fomento Economico Mexicano Trading Down 0.7%
NYSE FMX traded down $0.70 on Friday, hitting $100.80. 530,844 shares of the company were exchanged, compared to its average volume of 595,614. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.64 and a quick ratio of 1.31. Fomento Economico Mexicano S.A.B. de C.V. has a twelve month low of $81.08 and a twelve month high of $119.18. The firm has a market capitalization of $36.06 billion, a P/E ratio of 22.55, a price-to-earnings-growth ratio of 3.17 and a beta of 0.65. The company's 50 day moving average price is $104.13 and its 200-day moving average price is $96.94.
Fomento Economico Mexicano (NYSE:FMX - Get Free Report) last released its earnings results on Monday, April 28th. The company reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.07). Fomento Economico Mexicano had a return on equity of 7.86% and a net margin of 3.98%. The firm had revenue of $9.65 billion during the quarter, compared to analysts' expectations of $194.75 billion. Analysts predict that Fomento Economico Mexicano S.A.B. de C.V. will post 5.32 earnings per share for the current fiscal year.
Fomento Economico Mexicano Increases Dividend
The company also recently announced a -- dividend, which will be paid on Monday, July 28th. Shareholders of record on Thursday, July 17th will be paid a dividend of $1.3625 per share. This is an increase from Fomento Economico Mexicano's previous -- dividend of $0.73. This represents a yield of 2%. The ex-dividend date of this dividend is Thursday, July 17th. Fomento Economico Mexicano's payout ratio is 11.41%.
Fomento Economico Mexicano Profile
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Free Report)
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.
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