Madison Investment Advisors LLC Takes Position in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Madison Investment Advisors LLC acquired a new stake in shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 23,437 shares of the company’s stock, valued at approximately $2,004,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Stifel Financial Corp grew its position 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. Brooklyn Investment Group grew its position in Fomento Económico Mexicano by 82.8% during 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. Rosenberg Matthew Hamilton grew its position in Fomento Económico Mexicano by 30.2% during the 4th quarter. Rosenberg Matthew Hamilton now owns 758 shares of the company’s stock worth $65,000 after acquiring an additional 176 shares during the last quarter. Cerity Partners LLC grew its position in Fomento Económico Mexicano by 2.0% during the 3rd quarter. Cerity Partners LLC now owns 9,520 shares of the company’s stock worth $940,000 after acquiring an additional 191 shares during the last quarter. Finally, UMB Bank n.a. grew 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 worth $76,000 after acquiring an additional 203 shares during the last quarter. 61.00% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms recently issued reports on FMX. Barclays raised their price target on Fomento Económico Mexicano from $99.00 to $102.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 4th. UBS Group increased their price objective on Fomento Económico Mexicano from $94.00 to $107.00 and gave the stock a “neutral” rating in a report on Friday, March 14th. Finally, The Goldman Sachs Group dropped their price objective on Fomento Económico Mexicano from $109.00 to $97.80 and set a “buy” rating for the company in a report on Tuesday, January 28th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Fomento Económico Mexicano has an average rating of “Hold” and a consensus price target of $103.95.

Fomento Económico Mexicano Trading Down 1.4 %

NYSE FMX opened at $97.29 on Friday. Fomento Económico Mexicano, S.A.B. de C.V. has a fifty-two week low of $81.08 and a fifty-two week high of $131.56. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.32 and a current ratio of 1.62. The stock has a 50 day simple moving average of $90.26 and a two-hundred day simple moving average of $92.56. The stock has a market cap of $34.81 billion, a P/E ratio of 24.95, a price-to-earnings-growth ratio of 5.26 and a beta of 0.87.

Fomento Económico Mexicano (NYSE:FMX) last released its earnings results on Thursday, February 27th. The company reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $1.51 by ($1.05). The firm had revenue of $9.99 billion during the quarter, compared to analysts’ expectations of $201.67 billion. Fomento Económico Mexicano had a net margin of 3.22% and a return on equity of 8.37%. On average, analysts forecast that Fomento Económico Mexicano, S.A.B. de C.V. will post 5.32 earnings per share for the current year.

Fomento Económico Mexicano Increases Dividend

The company also recently announced a dividend, which was paid on Friday, January 17th. Stockholders 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 a boost from Fomento Económico Mexicano’s previous dividend of $0.74. Fomento Económico Mexicano’s dividend payout ratio (DPR) is presently 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.