Raymond James Financial Inc. bought a new stake in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 9,510 shares of the company's stock, valued at approximately $813,000.
Other institutional investors also recently bought and sold shares of the company. Brooklyn Investment Group grew its holdings in Fomento Económico Mexicano by 82.8% in the 4th quarter. Brooklyn Investment Group now owns 340 shares of the company's stock worth $29,000 after acquiring an additional 154 shares during the last quarter. Mather Group LLC. boosted its holdings in shares of Fomento Económico Mexicano by 179.1% during the fourth quarter. Mather Group LLC. now owns 575 shares of the company's stock worth $49,000 after purchasing an additional 369 shares during the period. Exchange Traded Concepts LLC bought a new stake in shares of Fomento Económico Mexicano in the fourth quarter worth about $51,000. Rosenberg Matthew Hamilton increased its holdings 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 purchasing an additional 176 shares during the period. Finally, UMB Bank n.a. raised 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 purchasing an additional 203 shares during the last quarter. 61.00% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
FMX has been the topic of a number of recent analyst reports. UBS Group lifted their price objective on Fomento Económico Mexicano from $94.00 to $107.00 and gave the stock a "neutral" rating in a research report on Friday, March 14th. Barclays lifted their price target on shares of Fomento Económico Mexicano from $99.00 to $102.00 and gave the company an "equal weight" rating in a report on Tuesday, March 4th. The Goldman Sachs Group decreased their price objective on shares of 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, Itau BBA Securities raised shares of Fomento Económico Mexicano from a "market perform" rating to an "outperform" rating in a research note on Monday. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $103.95.
View Our Latest Research Report on Fomento Económico Mexicano
Fomento Económico Mexicano Stock Down 1.2 %
FMX stock traded down $1.13 during midday trading on Thursday, hitting $96.56. The stock had a trading volume of 1,029,463 shares, compared to its average volume of 635,885. The business has a 50-day moving average of $94.38 and a two-hundred day moving average of $92.05. 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 firm has a market cap of $34.55 billion, a price-to-earnings ratio of 24.76, a price-to-earnings-growth ratio of 5.26 and a beta of 0.68. Fomento Económico Mexicano, S.A.B. de C.V. has a 52-week low of $81.08 and a 52-week high of $127.15.
Fomento Económico Mexicano (NYSE:FMX - Get Free Report) last released its earnings results on Thursday, February 27th. The company reported $0.46 earnings per share 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 business had revenue of $9.99 billion during the quarter, compared to analysts' expectations of $201.67 billion. As a group, equities research analysts forecast 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 Profile
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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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