Exchange Traded Concepts LLC Grows Stake in Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX)

Exchange Traded Concepts LLC grew its position in shares of Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX - Free Report) by 5,217.9% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 31,482 shares of the company's stock after buying an additional 30,890 shares during the quarter. Exchange Traded Concepts LLC's holdings in Fomento Economico Mexicano were worth $3,072,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of FMX. Banque Transatlantique SA bought a new position in shares of Fomento Economico Mexicano during the 4th quarter worth approximately $44,000. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Fomento Economico Mexicano during the 4th quarter worth approximately $72,000. Parallel Advisors LLC increased its stake in shares of Fomento Economico Mexicano by 56.2% during the 1st quarter. Parallel Advisors LLC now owns 831 shares of the company's stock worth $81,000 after purchasing an additional 299 shares during the last quarter. Quantinno Capital Management LP purchased a new stake in shares of Fomento Economico Mexicano during the 4th quarter worth approximately $218,000. Finally, Fairtree Asset Management Pty Ltd purchased a new stake in shares of Fomento Economico Mexicano during the 4th quarter worth approximately $223,000. Institutional investors own 61.00% of the company's stock.

Fomento Economico Mexicano Stock Performance

FMX stock traded down $0.74 during midday trading on Thursday, reaching $101.85. 641,292 shares of the company's stock traded hands, compared to its average volume of 607,527. The company has a 50-day moving average price of $104.53 and a two-hundred day moving average price of $95.30. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.31 and a current ratio of 1.64. Fomento Economico 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 capitalization of $36.44 billion, a PE ratio of 22.78, a price-to-earnings-growth ratio of 3.58 and a beta of 0.67.

Fomento Economico Mexicano (NYSE:FMX - Get Free Report) last issued its earnings results 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 Economico Mexicano had a net margin of 3.98% and a return on equity of 7.86%. The business had revenue of $9.65 billion for the quarter, compared to the consensus estimate of $194.75 billion. As a group, equities analysts anticipate that Fomento Economico Mexicano S.A.B. de C.V. will post 5.32 EPS for the current year.

Fomento Economico 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 issued a dividend of $1.628 per share. This is a boost from Fomento Economico Mexicano's previous dividend of $0.92. The ex-dividend date was Thursday, April 24th. This represents a yield of 1.57%. Fomento Economico Mexicano's payout ratio is presently 11.41%.

Wall Street Analyst Weigh In

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

Fomento Economico 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.