Fifth Third Bancorp Boosts Stock Position in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Fifth Third Bancorp boosted its holdings in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) by 1.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 26,474 shares of the company’s stock after purchasing an additional 340 shares during the period. Fifth Third Bancorp’s holdings in Fomento Económico Mexicano were worth $2,583,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares 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. Royal Bank of Canada boosted its position in Fomento Económico Mexicano by 5.5% in the fourth quarter. Royal Bank of Canada now owns 5,269,083 shares of the company’s stock worth $450,454,000 after purchasing an additional 274,467 shares during the last quarter. Baillie Gifford & Co. boosted its position in Fomento Económico Mexicano by 0.4% in the fourth quarter. Baillie Gifford & Co. now owns 4,325,489 shares of the company’s stock worth $369,786,000 after purchasing an additional 18,750 shares during the last quarter. Schroder Investment Management Group raised its stake in shares of Fomento Económico Mexicano by 20.4% in the fourth quarter. Schroder Investment Management Group now owns 4,228,299 shares of the company’s stock valued at $360,716,000 after buying an additional 717,666 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in shares of Fomento Económico Mexicano by 6.8% in the fourth quarter. JPMorgan Chase & Co. now owns 3,238,177 shares of the company’s stock valued at $276,832,000 after buying an additional 205,981 shares during the period. Hedge funds and other institutional investors own 61.00% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on FMX. Wall Street Zen lowered Fomento Económico Mexicano from a “buy” rating to a “hold” rating in a research note on Wednesday, April 30th. UBS Group boosted their target price on Fomento Económico Mexicano from $107.00 to $112.00 and gave the company a “neutral” rating in a research note on Thursday, May 15th. Barclays boosted their target price on Fomento Económico Mexicano from $102.00 to $108.00 and gave the company an “equal weight” rating in a research note on Monday, May 12th. Finally, Itau BBA Securities upgraded Fomento Económico Mexicano from a “market perform” rating to an “outperform” rating in a research note on Monday, April 7th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $106.70.

Fomento Económico Mexicano Stock Performance

NYSE:FMX opened at $105.84 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 $119.18. The firm has a market cap of $37.87 billion, a price-to-earnings ratio of 27.14, a PEG ratio of 5.26 and a beta of 0.67. The business’s fifty day moving average is $104.01 and its 200 day moving average is $94.93.

Fomento Económico Mexicano (NYSE:FMX) last released its quarterly earnings data on Monday, April 28th. The company reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.07). Fomento Económico Mexicano had a net margin of 3.22% and a return on equity of 8.37%. The company had revenue of $9.65 billion for the quarter, compared to the consensus estimate of $194.75 billion. Research analysts predict 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 firm also recently announced a dividend, which was paid on Monday, May 5th. Shareholders of record on Friday, April 25th were paid a $1.628 dividend. This is a positive change from Fomento Económico Mexicano’s previous dividend of $0.92. This represents a yield of 1.57%. The ex-dividend date was Thursday, April 24th. Fomento Económico Mexicano’s dividend payout ratio is currently 11.41%.

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.