Voloridge Investment Management LLC Has $4.36 Million Position in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Voloridge Investment Management LLC raised its holdings in shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX - Free Report) by 45.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,038 shares of the company's stock after acquiring an additional 16,038 shares during the quarter. Voloridge Investment Management LLC's holdings in Fomento Económico Mexicano were worth $4,363,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Franklin Resources Inc. grew its stake in Fomento Económico Mexicano by 4.2% during the 4th quarter. Franklin Resources Inc. now owns 3,117 shares of the company's stock valued at $266,000 after acquiring an additional 125 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its holdings in shares of Fomento Económico Mexicano by 5.8% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 5,015 shares of the company's stock valued at $429,000 after buying an additional 274 shares during the last quarter. Atomi Financial Group Inc. lifted its holdings in shares of Fomento Económico Mexicano by 13.5% during the 4th quarter. Atomi Financial Group Inc. now owns 2,800 shares of the company's stock valued at $239,000 after buying an additional 334 shares during the last quarter. Mather Group LLC. lifted its holdings 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 buying an additional 369 shares during the last quarter. Finally, NewEdge Advisors LLC lifted its holdings in shares of Fomento Económico Mexicano by 9.7% during the 4th quarter. NewEdge Advisors LLC now owns 4,328 shares of the company's stock valued at $370,000 after buying an additional 382 shares during the last quarter. Hedge funds and other institutional investors own 61.00% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on FMX shares. Itau BBA Securities upgraded Fomento Económico Mexicano from a "market perform" rating to an "outperform" rating in a report on Monday, April 7th. Barclays lifted their price target on Fomento Económico Mexicano from $102.00 to $108.00 and gave the company an "equal weight" rating in a report on Monday, May 12th. UBS Group lifted their price target on Fomento Económico Mexicano from $107.00 to $112.00 and gave the company a "neutral" rating in a report on Thursday, May 15th. Finally, Wall Street Zen lowered Fomento Económico Mexicano from a "buy" rating to a "hold" rating in a 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 company. Based on data from MarketBeat, Fomento Económico Mexicano currently has an average rating of "Hold" and an average price target of $106.70.

Fomento Económico Mexicano Stock Performance

Shares of FMX stock traded down $1.02 during trading hours on Friday, reaching $106.42. 493,029 shares of the company's stock were exchanged, compared to its average volume of 618,213. Fomento Económico 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 stock has a market capitalization of $38.08 billion, a P/E ratio of 27.29, a P/E/G ratio of 5.26 and a beta of 0.69. The business has a fifty day moving average price of $102.41 and a 200-day moving average price of $93.72. The company has a quick ratio of 1.32, a current ratio of 1.62 and a debt-to-equity ratio of 0.37.

Fomento Económico Mexicano (NYSE:FMX - Get Free Report) last issued its quarterly earnings results on Monday, April 28th. The company reported $0.45 EPS 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. Analysts predict that Fomento Económico Mexicano, S.A.B. de C.V. will post 5.32 EPS for the current fiscal year.

Fomento Económico Mexicano Increases Dividend

The company 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. The ex-dividend date was Thursday, April 24th. This is a boost from Fomento Económico Mexicano's previous dividend of $0.92. This represents a dividend yield of 1.57%. Fomento Económico Mexicano's payout ratio is currently 11.41%.

Fomento Económico Mexicano 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.