Summitry LLC Acquires 438 Shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Summitry LLC boosted its holdings in shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) by 15.3% in the fourth quarter, Holdings Channel reports. The firm owned 3,305 shares of the company’s stock after purchasing an additional 438 shares during the quarter. Summitry LLC’s holdings in Fomento Económico Mexicano were worth $283,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in FMX. Mitsubishi UFJ Trust & Banking Corp raised its holdings in shares of Fomento Económico Mexicano by 5.8% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 5,015 shares of the company’s stock worth $429,000 after buying an additional 274 shares in the last quarter. Carrhae Capital LLP raised its stake in Fomento Económico Mexicano by 23.4% during the fourth quarter. Carrhae Capital LLP now owns 543,167 shares of the company’s stock worth $46,435,000 after acquiring an additional 103,131 shares in the last quarter. LPL Financial LLC boosted its stake in shares of Fomento Económico Mexicano by 93.7% in the 4th quarter. LPL Financial LLC now owns 14,391 shares of the company’s stock valued at $1,230,000 after purchasing an additional 6,960 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Fomento Económico Mexicano by 1.9% in 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 last quarter. Finally, Quantbot Technologies LP lifted its holdings in Fomento Económico Mexicano by 39.1% during the 4th quarter. Quantbot Technologies LP now owns 9,301 shares of the company’s stock valued at $795,000 after purchasing an additional 2,614 shares during the last quarter. 61.00% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

FMX has been the subject of several recent analyst reports. UBS Group raised their price objective on shares of Fomento Económico Mexicano from $94.00 to $107.00 and gave the stock a “neutral” rating in a report on Friday, March 14th. The Goldman Sachs Group reduced their price objective on Fomento Económico Mexicano from $109.00 to $97.80 and set a “buy” rating on the stock in a research note on Tuesday, January 28th. Finally, Barclays increased their price objective on shares of Fomento Económico Mexicano from $99.00 to $102.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 4th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $103.95.

Fomento Económico Mexicano Price Performance

Shares of FMX stock opened at $97.21 on Wednesday. The firm’s 50 day moving average price is $90.80 and its two-hundred day moving average price is $92.36. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.32 and a current ratio of 1.62. Fomento Económico Mexicano, S.A.B. de C.V. has a 52-week low of $81.08 and a 52-week high of $131.56. The stock has a market cap of $34.78 billion, a PE ratio of 24.93, a PEG ratio of 5.26 and a beta of 0.87.

Fomento Económico Mexicano (NYSE:FMX) last posted its quarterly earnings results on Thursday, February 27th. The company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.51 by ($1.05). The company had revenue of $9.99 billion during the quarter, compared to the consensus estimate of $201.67 billion. Fomento Económico Mexicano had a return on equity of 8.37% and a net margin of 3.22%. As a group, analysts forecast 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 business also recently declared a dividend, which was paid on Friday, January 17th. Stockholders of record on Friday, January 17th were paid a $0.9201 dividend. The ex-dividend date was Friday, January 17th. This is a boost from Fomento Económico Mexicano’s previous dividend of $0.74. Fomento Económico Mexicano’s dividend payout ratio is 11.03%.

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.