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

Raymond James Financial Inc. acquired a new position in shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 9,510 shares of the company’s stock, valued at approximately $813,000.

Several other institutional investors and hedge funds also recently made changes to their positions in FMX. Brooklyn Investment Group raised its position in shares of Fomento Económico Mexicano by 82.8% in the fourth quarter. Brooklyn Investment Group now owns 340 shares of the company’s stock valued at $29,000 after buying an additional 154 shares in the last quarter. Mather Group LLC. raised its holdings in Fomento Económico Mexicano by 179.1% in the 4th quarter. Mather Group LLC. now owns 575 shares of the company’s stock valued at $49,000 after acquiring an additional 369 shares in the last quarter. Exchange Traded Concepts LLC bought a new stake in shares of Fomento Económico Mexicano during the 4th quarter valued at $51,000. Rosenberg Matthew Hamilton grew its holdings in shares of Fomento Económico Mexicano by 30.2% during the 4th quarter. Rosenberg Matthew Hamilton now owns 758 shares of the company’s stock worth $65,000 after purchasing an additional 176 shares in the last quarter. Finally, UMB Bank n.a. increased its position in shares of Fomento Económico Mexicano by 29.7% in the fourth quarter. UMB Bank n.a. now owns 887 shares of the company’s stock worth $76,000 after purchasing an additional 203 shares during the period. Institutional investors and hedge funds own 61.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts 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 report on Monday, April 7th. StockNews.com lowered shares of Fomento Económico Mexicano from a “buy” rating to a “hold” rating in a research report on Wednesday, April 30th. UBS Group boosted their price objective on shares of Fomento Económico Mexicano from $94.00 to $107.00 and gave the company a “neutral” rating in a research report on Friday, March 14th. The Goldman Sachs Group decreased their price target 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 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. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, Fomento Económico Mexicano presently has an average rating of “Hold” and an average target price of $103.95.

Fomento Económico Mexicano Trading Up 2.1 %

NYSE:FMX opened at $102.86 on Wednesday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.62 and a quick ratio of 1.32. The company has a market cap of $36.80 billion, a P/E ratio of 26.37, a P/E/G ratio of 5.26 and a beta of 0.69. 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 price is $99.62 and its two-hundred day moving average price is $92.68.

Fomento Económico Mexicano (NYSE:FMX) last released its quarterly earnings data on Monday, April 28th. The company reported $0.45 EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $9.65 billion during the quarter, compared to the consensus estimate of $194.75 billion. As a group, analysts expect 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 firm 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 is a positive change from Fomento Económico Mexicano’s previous dividend of $0.92. The ex-dividend date was Thursday, April 24th. This represents a yield of 1.57%. Fomento Económico Mexicano’s dividend payout ratio (DPR) is currently 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.