Assetmark Inc. lifted its position in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX - Free Report) by 3,079.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,038 shares of the company's stock after acquiring an additional 3,911 shares during the period. Assetmark Inc.'s holdings in Fomento Económico Mexicano were worth $345,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in the company. Stifel Financial Corp raised its position in shares of Fomento Económico Mexicano by 1.2% in the 3rd quarter. Stifel Financial Corp now owns 12,479 shares of the company's stock worth $1,232,000 after acquiring an additional 149 shares in the last quarter. Brooklyn Investment Group increased its position in Fomento Económico Mexicano by 82.8% during the 4th 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. Rosenberg Matthew Hamilton increased its position in Fomento Económico Mexicano by 30.2% during the 4th quarter. Rosenberg Matthew Hamilton now owns 758 shares of the company's stock valued at $65,000 after buying an additional 176 shares in the last quarter. Cerity Partners LLC increased its position in Fomento Económico Mexicano by 2.0% during the 3rd quarter. Cerity Partners LLC now owns 9,520 shares of the company's stock valued at $940,000 after buying an additional 191 shares in the last quarter. Finally, UMB Bank n.a. increased its position in Fomento Económico Mexicano by 29.7% during the 4th quarter. UMB Bank n.a. now owns 887 shares of the company's stock valued at $76,000 after buying an additional 203 shares in the last quarter. Institutional investors own 61.00% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research analysts recently weighed in on FMX shares. UBS Group raised their price objective on Fomento Económico Mexicano from $94.00 to $107.00 and gave the company a "neutral" rating in a research report on Friday. The Goldman Sachs Group reduced their target price on Fomento Económico Mexicano from $109.00 to $97.80 and set a "buy" rating for the company in a report on Tuesday, January 28th. Finally, Barclays lifted their target price on 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 investment analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, Fomento Económico Mexicano presently has an average rating of "Hold" and an average target price of $103.95.
Read Our Latest Report on FMX
Fomento Económico Mexicano Stock Up 1.4 %
Shares of Fomento Económico Mexicano stock traded up $1.33 on Friday, reaching $99.04. The company's stock had a trading volume of 680,980 shares, compared to its average volume of 540,767. The company has a market capitalization of $35.43 billion, a price-to-earnings ratio of 25.39, a P/E/G ratio of 5.26 and a beta of 0.87. Fomento Económico Mexicano, S.A.B. de C.V. has a 52 week low of $81.07 and a 52 week high of $131.56. 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 firm's fifty day simple moving average is $88.73 and its two-hundred day simple moving average is $92.63.
Fomento Económico Mexicano (NYSE:FMX - Get Free Report) last released its quarterly earnings results on Thursday, February 27th. The company reported $0.46 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.51 by ($1.05). The firm had revenue of $9.99 billion during the quarter, compared to analysts' expectations of $201.67 billion. Fomento Económico Mexicano had a return on equity of 8.37% and a net margin of 3.22%. Equities analysts anticipate that Fomento Económico Mexicano, S.A.B. de C.V. will post 5.32 earnings per share for the current year.
Fomento Económico Mexicano Increases Dividend
The company 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. This is an increase from Fomento Económico Mexicano's previous dividend of $0.74. The ex-dividend date was Friday, January 17th. Fomento Económico Mexicano's dividend payout ratio (DPR) is 11.03%.
About Fomento Económico Mexicano
(
Free Report)
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.
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