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

Exchange Traded Concepts LLC lifted its stake in Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX - Free Report) by 5,217.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,482 shares of the company's stock after buying an additional 30,890 shares during the period. Exchange Traded Concepts LLC's holdings in Fomento Economico Mexicano were worth $3,072,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of FMX. First Eagle Investment Management LLC grew its holdings in shares of Fomento Economico Mexicano by 20.5% during the fourth quarter. First Eagle Investment Management LLC now owns 12,655,733 shares of the company's stock worth $1,081,939,000 after purchasing an additional 2,150,913 shares during the last quarter. Royal Bank of Canada boosted its position in shares of Fomento Economico Mexicano by 5.5% in the 4th quarter. Royal Bank of Canada now owns 5,269,083 shares of the company's stock valued at $450,454,000 after purchasing an additional 274,467 shares during the period. Baillie Gifford & Co. grew its stake in Fomento Economico Mexicano by 0.4% during the 4th quarter. Baillie Gifford & Co. now owns 4,325,489 shares of the company's stock worth $369,786,000 after buying an additional 18,750 shares during the last quarter. Schroder Investment Management Group increased its position in Fomento Economico Mexicano by 20.4% during the fourth quarter. Schroder Investment Management Group now owns 4,228,299 shares of the company's stock worth $360,716,000 after buying an additional 717,666 shares during the period. Finally, JPMorgan Chase & Co. increased its position in Fomento Economico Mexicano by 6.8% during the fourth quarter. JPMorgan Chase & Co. now owns 3,238,177 shares of the company's stock worth $276,832,000 after buying an additional 205,981 shares during the period. 61.00% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have commented on FMX. Itau BBA Securities raised Fomento Economico Mexicano from a "market perform" rating to an "outperform" rating in a research note on Monday, April 7th. Wall Street Zen cut shares of Fomento Economico Mexicano from a "buy" rating to a "hold" rating in a research note on Wednesday, April 30th. Barclays raised their target price 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. Finally, UBS Group increased their price target on shares of Fomento Economico Mexicano from $107.00 to $112.00 and gave the stock a "neutral" rating in a report on Thursday, May 15th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, Fomento Economico Mexicano presently has an average rating of "Hold" and a consensus target price of $106.70.

Fomento Economico Mexicano Price Performance

Fomento Economico Mexicano stock traded down $1.49 during midday trading on Friday, reaching $100.31. The company's stock had a trading volume of 411,070 shares, compared to its average volume of 607,319. 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 fifty-two week low of $81.08 and a fifty-two week high of $119.18. The firm has a market capitalization of $35.89 billion, a PE ratio of 22.46, a P/E/G ratio of 3.58 and a beta of 0.67. The stock's 50 day simple moving average is $104.53 and its 200 day simple moving average is $95.30.

Fomento Economico Mexicano (NYSE:FMX - Get Free Report) last announced its quarterly earnings data on Monday, April 28th. The company reported $0.45 EPS for the quarter, missing the consensus estimate 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 company had revenue of $9.65 billion during the quarter, compared to analyst estimates of $194.75 billion. On average, equities research analysts forecast that Fomento Economico Mexicano S.A.B. de C.V. will post 5.32 earnings per share for the current year.

Fomento Economico Mexicano Increases Dividend

The company also recently declared a dividend, which was paid on Monday, May 5th. Stockholders of record on Friday, April 25th were paid a dividend of $1.628 per share. This is a positive change from Fomento Economico Mexicano's previous dividend of $0.92. The ex-dividend date of this dividend was Thursday, April 24th. This represents a dividend yield of 1.57%. Fomento Economico Mexicano's payout ratio is 11.41%.

About Fomento Economico Mexicano

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.