Nuveen Asset Management LLC Has $184.54 Million Holdings in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Nuveen Asset Management LLC lifted its stake in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX - Free Report) by 25.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,158,614 shares of the company's stock after acquiring an additional 437,699 shares during the quarter. Nuveen Asset Management LLC owned approximately 0.60% of Fomento Económico Mexicano worth $184,540,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Brooklyn Investment Group increased its position in Fomento Económico Mexicano by 82.8% in the 4th quarter. Brooklyn Investment Group now owns 340 shares of the company's stock worth $29,000 after purchasing an additional 154 shares during the last quarter. Banque Transatlantique SA bought a new position in Fomento Económico Mexicano during the fourth quarter valued at approximately $44,000. Mather Group LLC. lifted its stake in Fomento Económico Mexicano by 179.1% in the fourth 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 stake in Fomento Económico Mexicano in the fourth quarter valued at approximately $51,000. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new stake in Fomento Económico Mexicano in the fourth quarter worth approximately $72,000. 61.00% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on FMX. StockNews.com lowered shares of Fomento Económico Mexicano from a "buy" rating to a "hold" rating in a research note on Wednesday, April 30th. The Goldman Sachs Group decreased their target price on 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 raised their price target on shares of Fomento Económico Mexicano from $102.00 to $108.00 and gave the stock an "equal weight" rating in a research report on Monday, May 12th. Itau BBA Securities upgraded Fomento Económico Mexicano from a "market perform" rating to an "outperform" rating in a research note on Monday, April 7th. Finally, UBS Group lifted their price objective on Fomento Económico Mexicano from $107.00 to $112.00 and gave the company a "neutral" rating in a report on Thursday. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $106.70.

Fomento Económico Mexicano Price Performance

Shares of FMX stock traded up $3.64 during trading hours on Monday, hitting $107.04. 492,904 shares of the company's stock were exchanged, compared to its average volume of 621,151. The stock's 50-day moving average is $100.70 and its 200-day moving average is $92.93. The stock has a market cap of $38.30 billion, a price-to-earnings ratio of 27.45, a price-to-earnings-growth ratio of 5.26 and a beta of 0.69. 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 $120.15.

Fomento Económico Mexicano (NYSE:FMX - Get Free Report) last announced its 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). The company had revenue of $9.65 billion during the quarter, compared to the consensus estimate of $194.75 billion. Fomento Económico Mexicano had a return on equity of 8.37% and a net margin of 3.22%. As a group, research analysts forecast that Fomento Económico Mexicano, S.A.B. de C.V. will post 5.32 EPS for the current year.

Fomento Económico Mexicano Increases Dividend

The business also recently declared a dividend, which was paid on Monday, May 5th. Stockholders of record on Friday, April 25th were paid a $1.628 dividend. 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 dividend payout ratio is 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.