BI Asset Management Fondsmaeglerselskab A S Acquires Shares of 843 Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 843 shares of the company’s stock, valued at approximately $72,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. FMR LLC raised its holdings in Fomento Económico Mexicano by 540.3% in the 4th quarter. FMR LLC now owns 3,147,544 shares of the company’s stock valued at $269,084,000 after acquiring an additional 2,655,962 shares during the last quarter. First Eagle Investment Management LLC boosted its stake in 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 worth $1,081,939,000 after buying an additional 2,150,913 shares during the last quarter. Schroder Investment Management Group grew its holdings in Fomento Económico Mexicano by 20.4% in the 4th 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 in the last quarter. Arrowstreet Capital Limited Partnership increased its stake in shares of Fomento Económico Mexicano by 77.5% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 728,253 shares of the company’s stock worth $62,258,000 after acquiring an additional 317,887 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of Fomento Económico Mexicano by 6.8% during the 4th quarter. JPMorgan Chase & Co. now owns 3,238,177 shares of the company’s stock worth $276,832,000 after acquiring an additional 205,981 shares during the period. 61.00% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on FMX shares. Barclays raised their price objective on shares of Fomento Económico Mexicano from $99.00 to $102.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 4th. The Goldman Sachs Group cut their price target on shares of Fomento Económico Mexicano from $109.00 to $97.80 and set a “buy” rating for the company in a report on Tuesday, January 28th. UBS Group increased their price objective on Fomento Económico Mexicano from $94.00 to $107.00 and gave the stock a “neutral” rating in a research report on Friday, March 14th. Finally, Itau BBA Securities upgraded Fomento Económico Mexicano from a “market perform” rating to an “outperform” rating in a research report on Monday, April 7th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $103.95.

Fomento Económico Mexicano Stock Performance

Shares of FMX stock opened at $105.92 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.32 and a current ratio of 1.62. The firm has a market cap of $37.90 billion, a P/E ratio of 27.16, a P/E/G ratio of 5.26 and a beta of 0.68. The firm’s 50 day moving average price is $97.46 and its 200-day moving average price is $92.40. Fomento Económico Mexicano, S.A.B. de C.V. has a one year low of $81.08 and a one year high of $123.09.

Fomento Económico Mexicano (NYSE:FMX) last posted its earnings results on Thursday, February 27th. The company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.51 by ($1.05). Fomento Económico Mexicano had a return on equity of 8.37% and a net margin of 3.22%. The firm had revenue of $9.99 billion for the quarter, compared to analyst estimates of $201.67 billion. As a group, equities research analysts predict 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 disclosed a dividend, which will be paid on Monday, May 5th. Stockholders of record on Friday, April 25th will be given a dividend of $1.628 per share. The ex-dividend date is Thursday, April 24th. This represents a dividend yield of 1.57%. This is a positive change from Fomento Económico Mexicano’s previous dividend of $0.92. Fomento Económico Mexicano’s dividend payout ratio is currently 11.75%.

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.