Royal Bank of Canada Has $450.45 Million Stock Holdings in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Royal Bank of Canada increased its holdings in shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX - Free Report) by 5.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,269,083 shares of the company's stock after purchasing an additional 274,467 shares during the quarter. Royal Bank of Canada owned 1.47% of Fomento Económico Mexicano worth $450,454,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of FMX. FMR LLC increased its position in Fomento Económico Mexicano by 540.3% in the fourth quarter. FMR LLC now owns 3,147,544 shares of the company's stock worth $269,084,000 after buying an additional 2,655,962 shares in the last quarter. First Eagle Investment Management LLC boosted its stake in Fomento Económico Mexicano by 20.5% during the fourth quarter. First Eagle Investment Management LLC now owns 12,655,733 shares of the company's stock valued at $1,081,939,000 after buying an additional 2,150,913 shares during the last quarter. Schroder Investment Management Group lifted its stake in shares of Fomento Económico Mexicano by 20.4% in the 4th quarter. Schroder Investment Management Group now owns 4,228,299 shares of the company's stock valued at $360,716,000 after purchasing an additional 717,666 shares during the last quarter. Nuveen Asset Management LLC lifted its stake in shares of Fomento Económico Mexicano by 25.4% in the 4th quarter. Nuveen Asset Management LLC now owns 2,158,614 shares of the company's stock valued at $184,540,000 after purchasing an additional 437,699 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its stake in shares of Fomento Económico Mexicano by 77.5% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 728,253 shares of the company's stock valued at $62,258,000 after purchasing an additional 317,887 shares during the last quarter. 61.00% of the stock is owned by institutional investors.

Fomento Económico Mexicano Trading Up 0.8%

Shares of FMX stock traded up $0.84 during mid-day trading on Tuesday, hitting $107.84. 457,449 shares of the company's stock were exchanged, compared to its average volume of 620,656. 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 $119.18. The stock has a 50-day simple moving average of $100.87 and a two-hundred day simple moving average of $93.00. 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 stock has a market cap of $38.58 billion, a price-to-earnings ratio of 27.65, a PEG ratio of 5.26 and a beta of 0.69.

Fomento Económico Mexicano (NYSE:FMX - Get Free Report) last announced 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 Económico Mexicano had a net margin of 3.22% and a return on equity of 8.37%. The business had revenue of $9.65 billion for the quarter, compared to analyst estimates of $194.75 billion. Equities analysts expect that Fomento Económico Mexicano, S.A.B. de C.V. will post 5.32 EPS for the current fiscal year.

Fomento Económico Mexicano Increases Dividend

The business 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 dividend payout ratio (DPR) is currently 11.41%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on FMX. Itau BBA Securities raised Fomento Económico Mexicano from a "market perform" rating to an "outperform" rating in a research report on Monday, April 7th. The Goldman Sachs Group cut their price target on Fomento Económico Mexicano from $109.00 to $97.80 and set a "buy" rating for the company in a research note on Tuesday, January 28th. StockNews.com lowered Fomento Económico Mexicano from a "buy" rating to a "hold" rating in a research report on Wednesday, April 30th. UBS Group increased their price objective on Fomento Económico Mexicano from $107.00 to $112.00 and gave the stock a "neutral" rating in a research report on Thursday, May 15th. Finally, Barclays increased their price objective on Fomento Económico Mexicano from $102.00 to $108.00 and gave the stock an "equal weight" rating in a research report on Monday, May 12th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $106.70.

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.