GAMMA Investing LLC Boosts Stake in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

GAMMA Investing LLC grew its position in shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX - Free Report) by 27,873.3% during the first quarter, according to its most recent filing with the SEC. The firm owned 20,980 shares of the company's stock after acquiring an additional 20,905 shares during the period. GAMMA Investing LLC's holdings in Fomento Económico Mexicano were worth $2,047,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in FMX. First Eagle Investment Management LLC boosted its position in shares of Fomento Económico Mexicano by 20.5% in the 4th 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 in the last quarter. Royal Bank of Canada boosted its position in shares of Fomento Económico Mexicano by 5.5% in the 4th quarter. Royal Bank of Canada now owns 5,269,083 shares of the company's stock worth $450,454,000 after purchasing an additional 274,467 shares in the last quarter. Baillie Gifford & Co. boosted its position in shares of Fomento Económico Mexicano by 0.4% in the 4th quarter. Baillie Gifford & Co. now owns 4,325,489 shares of the company's stock worth $369,786,000 after purchasing an additional 18,750 shares in the last quarter. Schroder Investment Management Group boosted its position in shares of Fomento Económico Mexicano by 20.4% in the 4th quarter. Schroder Investment Management Group now owns 4,228,299 shares of the company's stock worth $360,716,000 after purchasing an additional 717,666 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of Fomento Económico Mexicano by 6.8% in the 4th quarter. JPMorgan Chase & Co. now owns 3,238,177 shares of the company's stock worth $276,832,000 after purchasing an additional 205,981 shares in the last quarter. Hedge funds and other institutional investors own 61.00% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on FMX shares. UBS Group boosted their price target on Fomento Económico Mexicano from $107.00 to $112.00 and gave the stock a "neutral" rating in a research report on Thursday, May 15th. Itau BBA Securities raised Fomento Económico Mexicano from a "market perform" rating to an "outperform" rating in a research report on Monday, April 7th. Barclays boosted their price target on Fomento Económico Mexicano from $102.00 to $108.00 and gave the stock an "equal weight" rating in a research report on Monday, May 12th. Finally, Wall Street Zen cut Fomento Económico Mexicano from a "buy" rating to a "hold" rating in a research report on Wednesday, April 30th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, Fomento Económico Mexicano presently has a consensus rating of "Hold" and a consensus price target of $106.70.

Fomento Económico Mexicano Stock Performance

FMX stock opened at $105.84 on Friday. The stock has a market capitalization of $37.87 billion, a PE ratio of 27.14, a price-to-earnings-growth ratio of 5.26 and a beta of 0.67. 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. 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's 50 day simple moving average is $104.01 and its 200 day simple moving average is $94.87.

Fomento Económico Mexicano (NYSE:FMX - Get Free Report) last released its quarterly earnings data 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). The business had revenue of $9.65 billion during the quarter, compared to the consensus estimate of $194.75 billion. Fomento Económico Mexicano had a net margin of 3.22% and a return on equity of 8.37%. As a group, research analysts forecast that Fomento Económico Mexicano, S.A.B. de C.V. will post 5.32 earnings per share for the current fiscal year.

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

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