AREX Capital Management LP Purchases New Position in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

AREX Capital Management LP purchased a new stake in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 3,255 shares of the company's stock, valued at approximately $278,000. Fomento Económico Mexicano makes up approximately 0.4% of AREX Capital Management LP's holdings, making the stock its 14th biggest holding.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Brooklyn Investment Group lifted its holdings in Fomento Económico Mexicano by 82.8% in the 4th quarter. Brooklyn Investment Group now owns 340 shares of the company's stock valued at $29,000 after purchasing an additional 154 shares in the last quarter. Mather Group LLC. grew its position in shares of Fomento Económico Mexicano by 179.1% in the fourth quarter. Mather Group LLC. now owns 575 shares of the company's stock valued at $49,000 after purchasing an additional 369 shares in the last quarter. Exchange Traded Concepts LLC purchased a new stake in Fomento Económico Mexicano in the 4th quarter valued at $51,000. Rosenberg Matthew Hamilton raised its holdings in shares of 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 period. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Fomento Económico Mexicano during the fourth quarter worth about $72,000. Hedge funds and other institutional investors own 61.00% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on FMX shares. Itau BBA Securities upgraded shares of Fomento Económico Mexicano from a "market perform" rating to an "outperform" rating in a report on Monday, April 7th. UBS Group increased their target price on shares of Fomento Económico Mexicano from $94.00 to $107.00 and gave the stock a "neutral" rating in a research note on Friday, March 14th. Barclays lifted their target price on shares of Fomento Económico Mexicano from $99.00 to $102.00 and gave the company an "equal weight" rating in a report on Tuesday, March 4th. 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 research note on Tuesday, January 28th. Finally, StockNews.com cut Fomento Económico Mexicano from a "buy" rating to a "hold" rating in a report on Wednesday, April 30th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $103.95.

Fomento Económico Mexicano Stock Up 1.0 %

NYSE FMX traded up $1.08 during trading hours on Wednesday, hitting $103.96. 540,906 shares of the company were exchanged, compared to its average volume of 624,340. Fomento Económico Mexicano, S.A.B. de C.V. has a 52-week low of $81.08 and a 52-week high of $123.09. The firm has a market cap of $37.20 billion, a price-to-earnings ratio of 26.66, a PEG ratio of 5.26 and a beta of 0.69. 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 50 day moving average of $99.62 and a two-hundred day moving average of $92.68.

Fomento Económico Mexicano (NYSE:FMX - Get Free Report) last posted its quarterly earnings results on Monday, April 28th. The company reported $0.45 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.07). The firm had revenue of $9.65 billion for the quarter, compared to analyst estimates of $194.75 billion. Fomento Económico Mexicano had a return on equity of 8.37% and a net margin of 3.22%. Equities research analysts anticipate 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 firm also recently disclosed a dividend, which was paid on Monday, May 5th. Stockholders of record on Friday, April 25th were issued a $1.628 dividend. The ex-dividend date was Thursday, April 24th. This represents a dividend yield of 1.57%. This is an increase from Fomento Económico Mexicano's previous dividend of $0.92. Fomento Económico Mexicano's dividend payout ratio is presently 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.