9,510 Shares in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) Purchased by Raymond James Financial Inc.

Raymond James Financial Inc. bought a new position in shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 9,510 shares of the company's stock, valued at approximately $813,000.

Several other hedge funds and other institutional investors have also made changes to their positions in FMX. Park Avenue Securities LLC acquired a new position in shares of Fomento Económico Mexicano in the fourth quarter valued at approximately $225,000. Wells Fargo & Company MN grew its holdings in Fomento Económico Mexicano by 17.0% during the fourth quarter. Wells Fargo & Company MN now owns 28,135 shares of the company's stock worth $2,405,000 after acquiring an additional 4,096 shares during the period. Sarasin & Partners LLP grew its stake in shares of Fomento Económico Mexicano by 33.3% during the 4th quarter. Sarasin & Partners LLP now owns 20,000 shares of the company's stock worth $1,710,000 after purchasing an additional 5,000 shares during the period. Assenagon Asset Management S.A. grew its stake in shares of Fomento Económico Mexicano by 141.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 135,003 shares of the company's stock worth $11,541,000 after purchasing an additional 79,181 shares during the period. Finally, American Century Companies Inc. grew its stake in shares of Fomento Económico 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. Institutional investors and hedge funds own 61.00% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Itau BBA Securities raised shares of Fomento Económico Mexicano from a "market perform" rating to an "outperform" rating in a research note on Monday, April 7th. UBS Group upped their price target on shares of Fomento Económico Mexicano from $94.00 to $107.00 and gave the stock a "neutral" rating in a research note on Friday, March 14th. The Goldman Sachs Group lowered their target price on Fomento Económico Mexicano from $109.00 to $97.80 and set a "buy" rating on the stock in a report on Tuesday, January 28th. StockNews.com lowered Fomento Económico Mexicano from a "buy" rating to a "hold" rating in a report on Wednesday, April 30th. Finally, Barclays upped their target price 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. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Fomento Económico Mexicano presently has an average rating of "Hold" and an average target price of $103.95.

Fomento Económico Mexicano Price Performance

Fomento Económico Mexicano stock traded down $3.15 during trading hours on Monday, hitting $98.89. The stock had a trading volume of 20,921 shares, compared to its average volume of 621,946. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.62 and a quick ratio of 1.32. 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 stock's fifty day moving average is $100.17 and its two-hundred day moving average is $92.75. The stock has a market capitalization of $35.38 billion, a price-to-earnings ratio of 25.34, a PEG ratio of 5.26 and a beta of 0.69.

Fomento Económico Mexicano (NYSE:FMX - Get Free Report) last released 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 firm had revenue of $9.65 billion during the quarter, compared to analysts' expectations of $194.75 billion. Fomento Económico Mexicano had a net margin of 3.22% and a return on equity of 8.37%. As a group, analysts predict 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 announced a dividend, which was paid on Monday, May 5th. Shareholders of record on Friday, April 25th were issued a $1.628 dividend. This represents a yield of 1.57%. This is a positive change from Fomento Económico Mexicano's previous dividend of $0.92. The ex-dividend date was Thursday, April 24th. Fomento Económico Mexicano's dividend payout ratio is 11.41%.

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.