Millennium Management LLC Has $21.86 Million Stock Position in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Millennium Management LLC lifted its position in shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX - Free Report) by 29.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 255,677 shares of the company's stock after acquiring an additional 58,220 shares during the quarter. Millennium Management LLC owned approximately 0.07% of Fomento Económico Mexicano worth $21,858,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in FMX. Brooklyn Investment Group raised its stake in shares of Fomento Económico Mexicano by 82.8% during the fourth quarter. Brooklyn Investment Group now owns 340 shares of the company's stock worth $29,000 after buying an additional 154 shares during the last quarter. Banque Transatlantique SA acquired a new stake in Fomento Económico Mexicano during the 4th quarter worth $44,000. Mather Group LLC. raised its position in shares of Fomento Económico Mexicano by 179.1% during the 4th quarter. Mather Group LLC. now owns 575 shares of the company's stock valued at $49,000 after acquiring an additional 369 shares during the last quarter. Exchange Traded Concepts LLC acquired a new position in shares of Fomento Económico Mexicano in the 4th quarter valued at $51,000. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Fomento Económico Mexicano in the 4th quarter valued at $72,000. Institutional investors and hedge funds own 61.00% of the company's stock.

Fomento Económico Mexicano Price Performance

Shares of NYSE FMX opened at $107.84 on Wednesday. The firm has a market cap of $38.58 billion, a P/E ratio of 27.65, a price-to-earnings-growth ratio of 5.26 and a beta of 0.69. The business's 50 day moving average is $101.08 and its 200-day moving average is $93.10. The company has a current ratio of 1.62, a quick ratio of 1.32 and a debt-to-equity ratio of 0.37. Fomento Económico Mexicano, S.A.B. de C.V. has a 1-year low of $81.08 and a 1-year high of $119.18.

Fomento Económico Mexicano (NYSE:FMX - Get Free Report) last posted its quarterly earnings data on Monday, April 28th. The company reported $0.45 earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $9.65 billion for the quarter, compared to the consensus estimate of $194.75 billion. Equities 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 declared a dividend, which was paid on Monday, May 5th. Investors of record on Friday, April 25th were given a dividend of $1.628 per share. The ex-dividend date was Thursday, April 24th. This represents a yield of 1.57%. This is an increase from Fomento Económico Mexicano's previous dividend of $0.92. Fomento Económico Mexicano's dividend payout ratio is currently 11.41%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on FMX shares. The Goldman Sachs Group lowered their target price on shares of Fomento Económico Mexicano from $109.00 to $97.80 and set a "buy" rating for the company in a research note on Tuesday, January 28th. Barclays upped 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. Itau BBA Securities raised Fomento Económico Mexicano from a "market perform" rating to an "outperform" rating in a research note on Monday, April 7th. UBS Group boosted their target price 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. Finally, StockNews.com lowered Fomento Económico Mexicano from a "buy" rating to a "hold" rating in a research report on Wednesday, April 30th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Fomento Económico Mexicano presently has a consensus rating of "Hold" and a consensus target price of $106.70.

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.

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