BI Asset Management Fondsmaeglerselskab A S Buys New Holdings in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

BI Asset Management Fondsmaeglerselskab A S purchased a new position in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) in the fourth quarter, Holdings Channel reports. The fund purchased 843 shares of the company’s stock, valued at approximately $72,000.

A number of other large investors also recently modified their holdings of the company. Brooklyn Investment Group grew its stake in shares of Fomento Económico Mexicano by 82.8% during the fourth quarter. Brooklyn Investment Group now owns 340 shares of the company’s stock worth $29,000 after purchasing an additional 154 shares in the last quarter. Mather Group LLC. boosted its position 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 worth $49,000 after acquiring an additional 369 shares in the last quarter. Exchange Traded Concepts LLC purchased a new position in shares of Fomento Económico Mexicano in the 4th quarter valued at about $51,000. Rosenberg Matthew Hamilton raised its position in shares of Fomento Económico Mexicano by 30.2% during the 4th quarter. Rosenberg Matthew Hamilton now owns 758 shares of the company’s stock worth $65,000 after acquiring an additional 176 shares in the last quarter. Finally, UMB Bank n.a. lifted its stake in Fomento Económico Mexicano by 29.7% during the fourth quarter. UMB Bank n.a. now owns 887 shares of the company’s stock worth $76,000 after purchasing an additional 203 shares during the last quarter. 61.00% of the stock is owned by hedge funds and other institutional investors.

Fomento Económico Mexicano Stock Down 0.4 %

Shares of NYSE:FMX opened at $105.92 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.62 and a quick ratio of 1.32. The stock 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. Fomento Económico Mexicano, S.A.B. de C.V. has a 1-year low of $81.08 and a 1-year high of $123.09. The firm has a fifty day moving average price of $97.46 and a 200 day moving average price of $92.40.

Fomento Económico Mexicano (NYSE:FMX) last released its quarterly earnings results on Thursday, February 27th. The company reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.51 by ($1.05). The company had revenue of $9.99 billion for the quarter, compared to analysts’ expectations of $201.67 billion. Fomento Económico Mexicano had a return on equity of 8.37% and a net margin of 3.22%. Sell-side 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 declared a dividend, which will be paid on Monday, May 5th. Stockholders of record on Friday, April 25th will be paid a dividend of $1.628 per share. This represents a dividend yield of 1.57%. The ex-dividend date of this dividend is Thursday, April 24th. This is a boost from Fomento Económico Mexicano’s previous dividend of $0.92. Fomento Económico Mexicano’s dividend payout ratio is 11.75%.

Wall Street Analyst Weigh In

Several equities analysts have commented on FMX shares. The Goldman Sachs Group dropped their price target on shares of Fomento Económico Mexicano from $109.00 to $97.80 and set a “buy” rating on the stock in a research note on Tuesday, January 28th. UBS Group lifted their price target on shares of Fomento Económico Mexicano from $94.00 to $107.00 and gave the stock a “neutral” rating in a research note on Friday, March 14th. Barclays upped their price objective on shares of Fomento Económico Mexicano from $99.00 to $102.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 4th. 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 equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Fomento Económico Mexicano presently has an average rating of “Moderate Buy” and a consensus target price of $103.95.

About Fomento Económico Mexicano

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.