Bridgefront Capital LLC purchased a new stake in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,877 shares of the company's stock, valued at approximately $246,000.
Other institutional investors and hedge funds have also modified their holdings of the company. Barclays PLC raised its holdings in Fomento Económico Mexicano by 78.2% in the 3rd quarter. Barclays PLC now owns 72,159 shares of the company's stock valued at $7,123,000 after buying an additional 31,656 shares during the last quarter. Rosenberg Matthew Hamilton raised its stake 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 purchasing an additional 176 shares during the period. Assenagon Asset Management S.A. raised its stake in shares of Fomento Económico Mexicano by 141.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 135,003 shares of the company's stock worth $11,541,000 after purchasing an additional 79,181 shares during the period. Park Avenue Securities LLC purchased a new stake in Fomento Económico Mexicano in the 4th quarter worth about $225,000. Finally, Brooklyn Investment Group increased its position in shares of 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 buying an additional 154 shares during the period. 61.00% of the stock is currently owned by institutional investors and hedge funds.
Fomento Económico Mexicano Price Performance
Shares of Fomento Económico Mexicano stock traded up $1.20 during mid-day trading on Wednesday, reaching $103.23. 339,355 shares of the stock traded hands, compared to its average volume of 623,727. The business has a 50-day moving average of $100.35 and a 200 day moving average of $92.84. 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 $123.03. The stock has a market capitalization of $36.93 billion, a PE ratio of 26.47, 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.
Fomento Económico Mexicano (NYSE:FMX - Get Free Report) last posted its earnings results on Monday, April 28th. The company reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.07). Fomento Económico Mexicano had a return on equity of 8.37% and a net margin of 3.22%. The business had revenue of $9.65 billion for the quarter, compared to analyst estimates of $194.75 billion. On average, 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 disclosed a dividend, which was paid on Monday, May 5th. Stockholders of record on Friday, April 25th were given a dividend of $1.628 per share. This is a boost from Fomento Económico Mexicano's previous dividend of $0.92. This represents a dividend yield of 1.57%. The ex-dividend date of this dividend was Thursday, April 24th. Fomento Económico Mexicano's dividend payout ratio is currently 11.41%.
Analyst Ratings Changes
A number of research firms recently weighed in on FMX. StockNews.com downgraded Fomento Económico Mexicano from a "buy" rating to a "hold" rating in a research report on Wednesday, April 30th. Itau BBA Securities raised Fomento Económico Mexicano from a "market perform" rating to an "outperform" rating in a research note on Monday, April 7th. Barclays increased their price objective on Fomento Económico Mexicano from $102.00 to $108.00 and gave the company an "equal weight" rating in a research report on Monday. UBS Group raised their price objective on Fomento Económico Mexicano from $94.00 to $107.00 and gave the stock a "neutral" rating in a research note on Friday, March 14th. Finally, The Goldman Sachs Group decreased their target price on Fomento Económico Mexicano from $109.00 to $97.80 and set a "buy" rating on the stock in a research note on Tuesday, January 28th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Fomento Económico Mexicano presently has a consensus rating of "Hold" and an average price target of $105.45.
Check Out Our Latest Stock Analysis on FMX
Fomento Económico Mexicano Company Profile
(
Free Report)
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.
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