JPMorgan Chase & Co. Purchases 205,981 Shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

JPMorgan Chase & Co. increased its holdings in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) by 6.8% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,238,177 shares of the company’s stock after buying an additional 205,981 shares during the period. JPMorgan Chase & Co. owned 0.91% of Fomento Económico Mexicano worth $276,832,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in FMX. Stifel Financial Corp raised its holdings 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 valued at $1,232,000 after acquiring an additional 149 shares in the last quarter. Brooklyn Investment Group lifted its position in Fomento Económico Mexicano by 82.8% during the fourth quarter. Brooklyn Investment Group now owns 340 shares of the company’s stock valued at $29,000 after purchasing an additional 154 shares during the last quarter. Rosenberg Matthew Hamilton grew its stake in Fomento Económico Mexicano by 30.2% in the 4th quarter. Rosenberg Matthew Hamilton now owns 758 shares of the company’s stock worth $65,000 after buying an additional 176 shares in the last quarter. Cerity Partners LLC increased its holdings in shares of Fomento Económico Mexicano by 2.0% in the 3rd quarter. Cerity Partners LLC now owns 9,520 shares of the company’s stock worth $940,000 after buying an additional 191 shares during the last quarter. Finally, UMB Bank n.a. raised its position in shares of 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.

Analysts Set New Price Targets

FMX has been the subject of several research reports. The Goldman Sachs Group cut their target price on shares of Fomento Económico Mexicano from $109.00 to $97.80 and set a “buy” rating for the company in a research report on Tuesday, January 28th. UBS Group increased 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, March 14th. Finally, Barclays upped their target price on Fomento Económico Mexicano from $99.00 to $102.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 4th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $103.95.

Fomento Económico Mexicano Stock Up 1.1 %

FMX opened at $100.26 on Monday. The company has a market cap of $35.87 billion, a P/E ratio of 25.71, 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 12 month low of $81.08 and a 12 month high of $131.11. The business’s 50-day moving average price is $91.76 and its 200-day moving average price is $92.31. The company has a current ratio of 1.62, a quick ratio of 1.32 and a debt-to-equity ratio of 0.37.

Fomento Económico Mexicano (NYSE:FMX) last announced its quarterly earnings data on Thursday, February 27th. The company reported $0.46 earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $9.99 billion during the quarter, compared to the consensus estimate of $201.67 billion. On average, 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 company also recently declared a dividend, which was paid on Friday, January 17th. Shareholders of record on Friday, January 17th were issued a $0.9201 dividend. The ex-dividend date was Friday, January 17th. This is a positive change from Fomento Económico Mexicano’s previous dividend of $0.74. Fomento Económico Mexicano’s dividend payout ratio (DPR) is 11.03%.

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.