Perpetual Ltd increased its holdings in shares of Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX - Free Report) by 5.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 977,342 shares of the company's stock after purchasing an additional 52,673 shares during the period. Fomento Economico Mexicano accounts for about 1.2% of Perpetual Ltd's holdings, making the stock its 27th biggest holding. Perpetual Ltd owned approximately 0.27% of Fomento Economico Mexicano worth $95,369,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also recently added to or reduced their stakes in the company. Wells Fargo & Company MN boosted its position in Fomento Economico Mexicano by 17.0% during the 4th quarter. Wells Fargo & Company MN now owns 28,135 shares of the company's stock worth $2,405,000 after purchasing an additional 4,096 shares during the period. GAMMA Investing LLC boosted its position in Fomento Economico Mexicano by 27,873.3% during the 1st quarter. GAMMA Investing LLC now owns 20,980 shares of the company's stock worth $2,047,000 after purchasing an additional 20,905 shares during the period. American Century Companies Inc. boosted its position in Fomento Economico Mexicano by 1.9% during the 4th quarter. American Century Companies Inc. now owns 250,188 shares of the company's stock worth $21,389,000 after purchasing an additional 4,674 shares during the period. Franklin Resources Inc. boosted its position in Fomento Economico Mexicano by 4.2% during the 4th quarter. Franklin Resources Inc. now owns 3,117 shares of the company's stock worth $266,000 after purchasing an additional 125 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in Fomento Economico Mexicano during the 4th quarter worth $813,000. 61.00% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of analysts recently weighed in on FMX shares. UBS Group upped their price target on shares of Fomento Economico Mexicano from $107.00 to $112.00 and gave the stock a "neutral" rating in a research report on Thursday, May 15th. Barclays upped their price objective on shares of Fomento Economico Mexicano from $102.00 to $108.00 and gave the company an "equal weight" rating in a research report on Monday, May 12th. Itau BBA Securities raised shares of Fomento Economico Mexicano from a "market perform" rating to an "outperform" rating in a research report on Monday, April 7th. Finally, Wall Street Zen cut shares of Fomento Economico Mexicano from a "buy" rating to a "hold" rating in a research report on Wednesday, April 30th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Fomento Economico Mexicano currently has an average rating of "Hold" and an average price target of $106.70.
Check Out Our Latest Report on Fomento Economico Mexicano
Fomento Economico Mexicano Stock Up 0.9%
NYSE:FMX traded up $0.94 on Monday, reaching $102.93. The stock had a trading volume of 509,234 shares, compared to its average volume of 603,807. The stock has a market cap of $36.83 billion, a P/E ratio of 23.03, a price-to-earnings-growth ratio of 3.59 and a beta of 0.67. The company has a 50-day moving average of $104.32 and a 200 day moving average of $95.94. The company has a current ratio of 1.64, a quick ratio of 1.31 and a debt-to-equity ratio of 0.34. Fomento Economico Mexicano S.A.B. de C.V. has a 12-month low of $81.08 and a 12-month high of $119.18.
Fomento Economico Mexicano (NYSE:FMX - Get Free Report) last issued its 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). The company had revenue of $9.65 billion during the quarter, compared to analyst estimates of $194.75 billion. Fomento Economico Mexicano had a net margin of 3.98% and a return on equity of 7.86%. On average, research analysts predict that Fomento Economico Mexicano S.A.B. de C.V. will post 5.32 earnings per share for the current year.
Fomento Economico Mexicano Increases Dividend
The business also recently announced a dividend, which was paid on Monday, May 5th. Stockholders of record on Friday, April 25th were paid a $1.628 dividend. This represents a dividend yield of 1.57%. The ex-dividend date was Thursday, April 24th. This is a positive change from Fomento Economico Mexicano's previous dividend of $0.92. Fomento Economico Mexicano's dividend payout ratio is 11.41%.
Fomento Economico Mexicano Profile
(
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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