JPMorgan Chase & Co. Boosts Stake in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

JPMorgan Chase & Co. lifted its holdings in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX - Free Report) by 6.8% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,238,177 shares of the company's stock after buying an additional 205,981 shares during the period. JPMorgan Chase & Co. owned approximately 0.91% of Fomento Económico Mexicano worth $276,832,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. First Eagle Investment Management LLC boosted its position in Fomento Económico Mexicano by 20.5% in the fourth quarter. First Eagle Investment Management LLC now owns 12,655,733 shares of the company's stock worth $1,081,939,000 after purchasing an additional 2,150,913 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new position in shares of Fomento Económico Mexicano in the 3rd quarter worth about $19,856,000. ANTIPODES PARTNERS Ltd grew its position in Fomento Económico Mexicano by 28.4% during the fourth quarter. ANTIPODES PARTNERS Ltd now owns 815,739 shares of the company's stock valued at $69,743,000 after buying an additional 180,244 shares during the period. Perpetual Ltd increased its holdings in Fomento Económico Mexicano by 23.8% during the fourth quarter. Perpetual Ltd now owns 924,669 shares of the company's stock worth $79,050,000 after buying an additional 177,843 shares during the last quarter. Finally, Carrhae Capital LLP raised its position in Fomento Económico Mexicano by 23.4% in 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 during the period. 61.00% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on FMX shares. UBS Group increased their target price 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. Barclays raised their target price 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. Finally, The Goldman Sachs Group dropped their price target on 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 analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Fomento Económico Mexicano has a consensus rating of "Hold" and a consensus target price of $103.95.

Fomento Económico Mexicano Stock Performance

Fomento Económico Mexicano stock traded down $4.69 during mid-day trading on Friday, reaching $96.77. The company's stock had a trading volume of 799,708 shares, compared to its average volume of 627,033. The firm's fifty day moving average price is $93.27 and its two-hundred day moving average price is $92.31. 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 12-month low of $81.08 and a 12-month high of $130.00. The company has a market capitalization of $34.62 billion, a P/E ratio of 24.81, a PEG ratio of 5.26 and a beta of 0.87.

Fomento Económico Mexicano (NYSE:FMX - Get Free Report) last issued its quarterly earnings data 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). Fomento Económico Mexicano had a return on equity of 8.37% and a net margin of 3.22%. The company had revenue of $9.99 billion for the quarter, compared to analysts' expectations of $201.67 billion. Sell-side analysts predict 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 company also recently declared a dividend, which was paid on Friday, January 17th. Stockholders of record on Friday, January 17th were issued 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 is presently 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.