Asset Value Investors Ltd Purchases Shares of 500,565 Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Asset Value Investors Ltd purchased a new stake in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 500,565 shares of the company's stock, valued at approximately $42,793,000. Fomento Económico Mexicano accounts for about 19.2% of Asset Value Investors Ltd's holdings, making the stock its 2nd largest holding. Asset Value Investors Ltd owned approximately 0.14% of Fomento Económico Mexicano at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Banque Transatlantique SA bought a new stake in Fomento Económico Mexicano in the fourth quarter valued at $44,000. Mather Group LLC. raised its holdings in Fomento Económico Mexicano by 179.1% during the 4th quarter. Mather Group LLC. now owns 575 shares of the company's stock worth $49,000 after buying an additional 369 shares during the period. Exchange Traded Concepts LLC purchased a new position in Fomento Económico Mexicano during the 4th quarter valued at about $51,000. BI Asset Management Fondsmaeglerselskab A S purchased a new position in Fomento Económico Mexicano during the 4th quarter valued at about $72,000. Finally, R Squared Ltd purchased a new position in Fomento Económico Mexicano during the 4th quarter valued at about $118,000. Hedge funds and other institutional investors own 61.00% of the company's stock.

Fomento Económico Mexicano Stock Performance

Fomento Económico Mexicano stock traded down $1.02 during trading hours on Friday, reaching $106.42. 493,029 shares of the company were exchanged, compared to its average volume of 617,795. The firm has a market cap of $38.08 billion, a price-to-earnings ratio of 27.29, a PEG ratio of 5.26 and a beta of 0.69. The company has a current ratio of 1.62, a quick ratio of 1.32 and a debt-to-equity ratio of 0.37. The stock has a 50-day moving average of $102.41 and a 200 day moving average of $93.71. Fomento Económico Mexicano, S.A.B. de C.V. has a 12 month low of $81.08 and a 12 month high of $119.18.

Fomento Económico Mexicano (NYSE:FMX - Get Free Report) last issued its quarterly earnings results on Monday, April 28th. The company reported $0.45 EPS for the quarter, missing analysts' consensus estimates of $0.52 by ($0.07). The business 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%. As a group, 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 company also recently announced a dividend, which was paid on Monday, May 5th. Investors of record on Friday, April 25th were paid a $1.628 dividend. This represents a dividend yield of 1.57%. This is a positive change from Fomento Económico Mexicano's previous dividend of $0.92. The ex-dividend date of this dividend was Thursday, April 24th. Fomento Económico Mexicano's dividend payout ratio is presently 11.41%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Wall Street Zen cut Fomento Económico Mexicano from a "buy" rating to a "hold" rating in a research note 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 boosted their price target 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, UBS Group boosted their price target 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. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $106.70.

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.