Wells Fargo & Company MN Increases Stake in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Wells Fargo & Company MN increased its stake in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) by 17.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,135 shares of the company’s stock after purchasing an additional 4,096 shares during the period. Wells Fargo & Company MN’s holdings in Fomento Económico Mexicano were worth $2,405,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of the stock. Park Avenue Securities LLC acquired a new stake in shares of Fomento Económico Mexicano during the fourth quarter worth $225,000. Sarasin & Partners LLP raised its stake in Fomento Económico Mexicano by 33.3% in the 4th quarter. Sarasin & Partners LLP now owns 20,000 shares of the company’s stock worth $1,710,000 after acquiring an additional 5,000 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in 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 acquiring an additional 79,181 shares during the period. American Century Companies Inc. grew its stake in Fomento Económico Mexicano by 1.9% during the 4th quarter. American Century Companies Inc. now owns 250,188 shares of the company’s stock valued at $21,389,000 after purchasing an additional 4,674 shares during the last quarter. Finally, Atomi Financial Group Inc. raised its stake in shares of Fomento Económico Mexicano by 13.5% in the fourth quarter. Atomi Financial Group Inc. now owns 2,800 shares of the company’s stock worth $239,000 after purchasing an additional 334 shares during the last quarter. Hedge funds and other institutional investors own 61.00% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on FMX. UBS Group upped their price objective on shares of Fomento Económico Mexicano from $94.00 to $107.00 and gave the company a “neutral” rating in a report on Friday, March 14th. Barclays upped their price objective on Fomento Económico Mexicano from $99.00 to $102.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 4th. Itau BBA Securities raised shares of Fomento Económico Mexicano from a “market perform” rating to an “outperform” rating in a report on Monday, April 7th. Finally, The Goldman Sachs Group dropped their price target on shares of Fomento Económico Mexicano from $109.00 to $97.80 and set a “buy” rating on the stock in a research report on Tuesday, January 28th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $103.95.

Fomento Económico Mexicano Stock Down 0.4 %

FMX opened at $105.92 on Friday. The company has a 50-day moving average price of $97.46 and a 200 day moving average price of $92.40. Fomento Económico Mexicano, S.A.B. de C.V. has a twelve month low of $81.08 and a twelve month high of $123.09. The company has a market cap of $37.90 billion, a PE ratio of 27.16, a price-to-earnings-growth ratio of 5.26 and a beta of 0.68. The company has a quick ratio of 1.32, a current ratio of 1.62 and a debt-to-equity ratio of 0.37.

Fomento Económico Mexicano (NYSE:FMX) last issued its quarterly earnings results on Thursday, February 27th. The company reported $0.46 EPS for the quarter, missing the consensus estimate of $1.51 by ($1.05). Fomento Económico Mexicano had a return on equity of 8.37% and a net margin of 3.22%. The firm had revenue of $9.99 billion for the quarter, compared to analysts’ expectations of $201.67 billion. Sell-side analysts expect 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 business also recently disclosed a dividend, which will be paid on Monday, May 5th. Investors of record on Friday, April 25th will be given a dividend of $1.628 per share. This is an increase from Fomento Económico Mexicano’s previous dividend of $0.92. The ex-dividend date of this dividend is Thursday, April 24th. This represents a yield of 1.57%. Fomento Económico Mexicano’s dividend payout ratio (DPR) is presently 11.75%.

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.