Pitcairn Co. Acquires 447 Shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Pitcairn Co. raised its holdings in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) by 3.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 12,441 shares of the company’s stock after buying an additional 447 shares during the period. Pitcairn Co.’s holdings in Fomento Económico Mexicano were worth $1,064,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. FMR LLC increased its position in Fomento Económico Mexicano by 5.3% during the 3rd quarter. FMR LLC now owns 491,582 shares of the company’s stock worth $48,524,000 after buying an additional 24,537 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Fomento Económico Mexicano by 2.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 30,335 shares of the company’s stock worth $2,994,000 after buying an additional 607 shares during the period. Stifel Financial Corp grew its holdings in Fomento Económico Mexicano by 1.2% during 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 during the last quarter. XTX Topco Ltd bought a new stake in shares of Fomento Económico Mexicano in the third quarter worth $2,339,000. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of Fomento Económico Mexicano in the third quarter valued at about $717,000. 61.00% of the stock is owned by institutional investors.

Fomento Económico Mexicano Stock Down 4.6 %

Shares of NYSE:FMX opened at $96.77 on Friday. 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 52-week low of $81.08 and a 52-week high of $130.00. The business’s 50 day simple moving average is $93.27 and its two-hundred day simple moving average is $92.31. The firm has a market cap 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) 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 company had revenue of $9.99 billion for the quarter, compared to analyst estimates of $201.67 billion. Fomento Económico Mexicano had a net margin of 3.22% and a return on equity of 8.37%. As a group, research analysts forecast 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 disclosed a dividend, which was paid on Friday, January 17th. Shareholders of record on Friday, January 17th were paid a $0.9201 dividend. This is a positive change 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%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on FMX. Barclays lifted their target price on shares of 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. The Goldman Sachs Group reduced 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 research report on Tuesday, January 28th. Finally, UBS Group boosted 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. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Fomento Económico Mexicano currently has an average rating of “Hold” and an average target price of $103.95.

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.