Nuveen LLC purchased a new stake in Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 3,386,324 shares of the company's stock, valued at approximately $330,437,000. Nuveen LLC owned approximately 0.95% of Fomento Economico Mexicano as of its most recent SEC filing.
Several other large investors have also modified their holdings of FMX. Banque Transatlantique SA acquired a new stake in shares of Fomento Economico Mexicano in the fourth quarter valued at approximately $44,000. Alpine Bank Wealth Management acquired a new stake in shares of Fomento Economico Mexicano in the 1st quarter valued at approximately $46,000. Banque Cantonale Vaudoise purchased a new stake in shares of Fomento Economico Mexicano during the 1st quarter worth $51,000. BI Asset Management Fondsmaeglerselskab A S purchased a new position in Fomento Economico Mexicano in the 4th quarter valued at approximately $72,000. Finally, Parallel Advisors LLC increased its position in shares of Fomento Economico Mexicano by 56.2% in the first quarter. Parallel Advisors LLC now owns 831 shares of the company's stock valued at $81,000 after buying an additional 299 shares in the last quarter. Institutional investors and hedge funds own 61.00% of the company's stock.
Analyst Upgrades and Downgrades
FMX has been the topic of a number of analyst reports. Barclays lowered their target price on Fomento Economico Mexicano from $110.00 to $107.00 and set an "equal weight" rating on the stock in a report on Thursday, July 31st. UBS Group lifted their price objective on Fomento Economico Mexicano from $112.00 to $115.00 and gave the company a "neutral" rating in a research note on Thursday, July 10th. Finally, Wall Street Zen cut Fomento Economico Mexicano from a "buy" rating to a "hold" rating in a 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 stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $107.20.
View Our Latest Stock Analysis on FMX
Fomento Economico Mexicano Stock Down 1.4%
Shares of NYSE:FMX traded down $1.24 during mid-day trading on Thursday, hitting $84.50. 1,516,544 shares of the company traded hands, compared to its average volume of 628,263. The firm's 50 day simple moving average is $98.75 and its 200 day simple moving average is $98.25. The firm has a market cap of $30.23 billion, a P/E ratio of 28.74, a PEG ratio of 4.06 and a beta of 0.66. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.06 and a current ratio of 1.34. Fomento Economico Mexicano S.A.B. de C.V. has a 52-week low of $81.07 and a 52-week high of $114.33.
Fomento Economico Mexicano (NYSE:FMX - Get Free Report) last released its quarterly earnings results on Monday, July 28th. The company reported $0.42 earnings per share for the quarter, missing analysts' consensus estimates of $0.91 by ($0.49). Fomento Economico Mexicano had a net margin of 2.60% and a return on equity of 5.32%. The firm had revenue of $11.27 billion for the quarter, compared to analyst estimates of $216.71 billion. On average, 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 disclosed a -- dividend, which was paid on Monday, July 28th. Shareholders of record on Thursday, July 17th were paid a dividend of $1.3625 per share. This is a boost from Fomento Economico Mexicano's previous -- dividend of $0.73. The ex-dividend date was Thursday, July 17th. This represents a yield of 200.0%. Fomento Economico Mexicano's payout ratio is 74.83%.
Fomento Economico Mexicano Profile
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Free Report)
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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