Voloridge Investment Management LLC Raises Stock Holdings in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Voloridge Investment Management LLC grew its stake in shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX - Free Report) by 45.8% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 51,038 shares of the company's stock after acquiring an additional 16,038 shares during the period. 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 have also recently modified their holdings of the stock. First Eagle Investment Management LLC raised its stake in shares of Fomento Económico Mexicano by 20.5% during the fourth quarter. First Eagle Investment Management LLC now owns 12,655,733 shares of the company's stock valued at $1,081,939,000 after acquiring an additional 2,150,913 shares in the last quarter. Royal Bank of Canada increased its holdings in Fomento Económico Mexicano by 5.5% during the fourth quarter. Royal Bank of Canada now owns 5,269,083 shares of the company's stock valued at $450,454,000 after buying an additional 274,467 shares during the period. Baillie Gifford & Co. increased its holdings in Fomento Económico Mexicano by 0.4% during the fourth quarter. Baillie Gifford & Co. now owns 4,325,489 shares of the company's stock valued at $369,786,000 after buying an additional 18,750 shares during the period. Schroder Investment Management Group increased its holdings in Fomento Económico Mexicano by 20.4% during the fourth quarter. Schroder Investment Management Group now owns 4,228,299 shares of the company's stock valued at $360,716,000 after buying an additional 717,666 shares during the period. Finally, JPMorgan Chase & Co. increased its holdings in Fomento Económico Mexicano by 6.8% during the fourth quarter. JPMorgan Chase & Co. now owns 3,238,177 shares of the company's stock valued at $276,832,000 after buying an additional 205,981 shares during the period. Institutional investors own 61.00% of the company's stock.

Fomento Económico Mexicano Stock Down 0.1%

NYSE FMX traded down $0.12 on Wednesday, hitting $106.97. The stock had a trading volume of 475,897 shares, compared to its average volume of 618,328. The business's fifty day moving average price is $101.82 and its 200 day moving average price is $93.45. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.62 and a quick ratio of 1.32. Fomento Económico Mexicano, S.A.B. de C.V. has a 52-week low of $81.08 and a 52-week high of $119.18. The stock has a market cap of $38.27 billion, a price-to-earnings ratio of 27.43, a price-to-earnings-growth ratio of 5.26 and a beta of 0.69.

Fomento Económico Mexicano (NYSE:FMX - Get Free Report) last released its quarterly earnings results 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). 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 during the quarter, compared to analysts' expectations of $194.75 billion. Equities research analysts anticipate 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 company also recently declared a dividend, which was paid on Monday, May 5th. Shareholders of record on Friday, April 25th were issued a $1.628 dividend. This is a positive change from Fomento Económico Mexicano's previous dividend of $0.92. This represents a yield of 1.57%. The ex-dividend date of this dividend was Thursday, April 24th. Fomento Económico Mexicano's payout ratio is currently 11.41%.

Analyst Ratings Changes

Several equities analysts recently issued reports on FMX shares. Itau BBA Securities raised shares of Fomento Económico Mexicano from a "market perform" rating to an "outperform" rating in a report on Monday, April 7th. The Goldman Sachs Group cut their price objective on shares of Fomento Económico Mexicano from $109.00 to $97.80 and set a "buy" rating on the stock in a report on Tuesday, January 28th. Wall Street Zen lowered shares of Fomento Económico Mexicano from a "buy" rating to a "hold" rating in a report on Wednesday, April 30th. UBS Group lifted their price objective on shares of Fomento Económico Mexicano from $107.00 to $112.00 and gave the company a "neutral" rating in a report on Thursday, May 15th. Finally, Barclays lifted 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 report on Monday, May 12th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $106.70.

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.