Millennium Management LLC Acquires 58,220 Shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Millennium Management LLC lifted its stake in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX - Free Report) by 29.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 255,677 shares of the company's stock after buying an additional 58,220 shares during the period. Millennium Management LLC owned approximately 0.07% of Fomento Económico Mexicano worth $21,858,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in FMX. Barclays PLC boosted its stake in shares of Fomento Económico Mexicano by 78.2% in the third 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 period. Park Avenue Securities LLC acquired a new position in Fomento Económico Mexicano during the fourth quarter valued at approximately $225,000. Brooklyn Investment Group raised its position in 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 purchasing an additional 154 shares in the last quarter. UMB Bank n.a. raised its position in Fomento Económico Mexicano by 29.7% during the fourth quarter. UMB Bank n.a. now owns 887 shares of the company's stock valued at $76,000 after purchasing an additional 203 shares in the last quarter. Finally, Crossmark Global Holdings Inc. raised its position in Fomento Económico Mexicano by 9.2% during the fourth quarter. Crossmark Global Holdings Inc. now owns 20,382 shares of the company's stock valued at $1,743,000 after purchasing an additional 1,717 shares in the last quarter. 61.00% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Itau BBA Securities upgraded shares of Fomento Económico Mexicano from a "market perform" rating to an "outperform" rating in a research report on Monday, April 7th. UBS Group boosted their price objective on shares of Fomento Económico Mexicano from $107.00 to $112.00 and gave the company a "neutral" rating in a research report on Thursday, May 15th. The Goldman Sachs Group lowered their price objective on shares of Fomento Económico Mexicano from $109.00 to $97.80 and set a "buy" rating for the company in a research report on Tuesday, January 28th. Barclays boosted their price objective on shares of Fomento Económico Mexicano from $102.00 to $108.00 and gave the company an "equal weight" rating in a research report on Monday, May 12th. Finally, Wall Street Zen downgraded shares of Fomento Económico Mexicano from a "buy" rating to a "hold" rating in a report on Wednesday, April 30th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $106.70.

Fomento Económico Mexicano Trading Up 0.8%

Fomento Económico Mexicano stock traded up $0.85 during trading hours on Monday, reaching $106.71. 450,402 shares of the company's stock were exchanged, compared to its average volume of 618,335. The company has a quick ratio of 1.32, a current ratio of 1.62 and a debt-to-equity ratio of 0.37. The firm's 50 day simple moving average is $101.65 and its 200 day simple moving average is $93.35. Fomento Económico Mexicano, S.A.B. de C.V. has a twelve month low of $81.08 and a twelve month high of $119.18. The firm has a market capitalization of $38.18 billion, a PE ratio of 27.36, a PEG ratio of 5.26 and a beta of 0.69.

Fomento Económico Mexicano (NYSE:FMX - Get Free Report) last issued its quarterly earnings results on Monday, April 28th. The company reported $0.45 earnings per share for the quarter, missing analysts' consensus estimates 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. Research analysts predict 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 business 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 represents a dividend yield of 1.57%. The ex-dividend date of this dividend was Thursday, April 24th. This is a boost from Fomento Económico Mexicano's previous dividend of $0.92. Fomento Económico Mexicano's dividend payout ratio is 11.41%.

About Fomento Económico 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.