CIBC Private Wealth Group LLC Purchases 86,724 Shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

CIBC Private Wealth Group LLC lifted its holdings in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) by 33.4% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 346,229 shares of the company’s stock after buying an additional 86,724 shares during the period. CIBC Private Wealth Group LLC’s holdings in Fomento Económico Mexicano were worth $29,024,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Schroder Investment Management Group lifted its holdings in Fomento Económico Mexicano by 20.4% during the fourth quarter. Schroder Investment Management Group now owns 4,228,299 shares of the company’s stock worth $360,716,000 after acquiring an additional 717,666 shares during the period. Arrowstreet Capital Limited Partnership increased its position in shares of Fomento Económico Mexicano by 77.5% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 728,253 shares of the company’s stock valued at $62,258,000 after purchasing an additional 317,887 shares during the last quarter. Sava Infond d.o.o. bought a new stake in shares of Fomento Económico Mexicano during the 4th quarter worth $607,000. JPMorgan Chase & Co. boosted its holdings in shares of Fomento Económico Mexicano by 6.8% in the 4th quarter. JPMorgan Chase & Co. now owns 3,238,177 shares of the company’s stock worth $276,832,000 after buying an additional 205,981 shares during the last quarter. Finally, Summitry LLC grew its position in Fomento Económico Mexicano by 15.3% during the fourth quarter. Summitry LLC now owns 3,305 shares of the company’s stock valued at $283,000 after buying an additional 438 shares during the period. 61.00% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have commented on FMX. The Goldman Sachs Group lowered their price objective 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. UBS Group lifted their price target on shares of Fomento Económico Mexicano from $94.00 to $107.00 and gave the stock a “neutral” rating in a report on Friday, March 14th. Finally, Barclays increased their price objective on Fomento Económico Mexicano from $99.00 to $102.00 and gave the company an “equal weight” rating in a report on Tuesday, March 4th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $103.95.

Fomento Económico Mexicano Price Performance

FMX opened at $97.59 on Tuesday. The firm has a 50-day moving average price of $92.07 and a 200-day moving average price of $92.27. Fomento Económico Mexicano, S.A.B. de C.V. has a twelve month low of $81.08 and a twelve month high of $131.11. 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 company has a market capitalization of $34.92 billion, a price-to-earnings ratio of 25.02, a PEG ratio of 5.26 and a beta of 0.87.

Fomento Económico Mexicano (NYSE:FMX) last issued its 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). Fomento Económico Mexicano had a net margin of 3.22% and a return on equity of 8.37%. The business had revenue of $9.99 billion for the quarter, compared to the consensus estimate of $201.67 billion. Equities 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 business also recently announced a dividend, which was paid on Friday, January 17th. Shareholders of record on Friday, January 17th were paid a $0.9201 dividend. The ex-dividend date of this dividend was Friday, January 17th. This is an increase from Fomento Económico Mexicano’s previous dividend of $0.74. Fomento Económico Mexicano’s dividend payout ratio (DPR) is currently 11.03%.

Fomento Económico Mexicano 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.