Altrinsic Global Advisors LLC Increases Stock Position in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Altrinsic Global Advisors LLC boosted its holdings in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX - Free Report) by 37.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 625,204 shares of the company's stock after purchasing an additional 170,853 shares during the quarter. Fomento Económico Mexicano comprises 2.6% of Altrinsic Global Advisors LLC's investment portfolio, making the stock its 13th largest holding. Altrinsic Global Advisors LLC owned 0.17% of Fomento Económico Mexicano worth $53,449,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Park Avenue Securities LLC purchased a new stake in shares of Fomento Económico Mexicano in the fourth quarter valued at about $225,000. Sarasin & Partners LLP increased its position in Fomento Económico Mexicano by 33.3% in the 4th quarter. Sarasin & Partners LLP now owns 20,000 shares of the company's stock valued at $1,710,000 after acquiring an additional 5,000 shares during the period. Assenagon Asset Management S.A. raised its stake in Fomento Económico Mexicano by 141.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 135,003 shares of the company's stock valued at $11,541,000 after acquiring an additional 79,181 shares during the last quarter. American Century Companies Inc. raised its stake in Fomento Económico Mexicano by 1.9% during the 4th quarter. American Century Companies Inc. now owns 250,188 shares of the company's stock valued at $21,389,000 after acquiring an additional 4,674 shares during the last quarter. Finally, Atomi Financial Group Inc. lifted its position in Fomento Económico Mexicano by 13.5% during the 4th quarter. Atomi Financial Group Inc. now owns 2,800 shares of the company's stock worth $239,000 after acquiring an additional 334 shares during the period. Institutional investors and hedge funds own 61.00% of the company's stock.

Fomento Económico Mexicano Stock Up 1.4 %

Shares of NYSE FMX opened at $105.99 on Wednesday. The company has a quick ratio of 1.32, a current ratio of 1.62 and a debt-to-equity ratio of 0.37. The firm has a 50-day moving average price of $96.86 and a 200 day moving average price of $92.26. Fomento Económico Mexicano, S.A.B. de C.V. has a 52 week low of $81.08 and a 52 week high of $123.09. The stock has a market capitalization of $37.92 billion, a price-to-earnings ratio of 27.18, a price-to-earnings-growth ratio of 5.26 and a beta of 0.68.

Fomento Económico Mexicano (NYSE:FMX - Get Free Report) last released its quarterly earnings data on Thursday, February 27th. The company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $1.51 by ($1.05). The firm had revenue of $9.99 billion during the quarter, compared to analysts' expectations of $201.67 billion. Fomento Económico Mexicano had a net margin of 3.22% and a return on equity of 8.37%. Equities research analysts anticipate 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 firm also recently disclosed a dividend, which will be paid on Monday, May 5th. Investors of record on Friday, April 25th will be given a $1.628 dividend. The ex-dividend date of this dividend is Thursday, April 24th. This is a positive change 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 11.75%.

Analyst Ratings Changes

FMX has been the subject of several analyst reports. The Goldman Sachs Group cut their price target 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. UBS Group upped their price objective on shares of Fomento Económico Mexicano from $94.00 to $107.00 and gave the stock a "neutral" rating in a research report on Friday, March 14th. 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. Finally, Barclays increased their price target on shares of Fomento Económico Mexicano from $99.00 to $102.00 and gave the stock an "equal weight" rating in a report on Tuesday, March 4th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, Fomento Económico Mexicano currently has a consensus rating of "Moderate Buy" and an average price target 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.

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