Madison Investment Advisors LLC Purchases New Stake in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Madison Investment Advisors LLC purchased a new position in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 23,437 shares of the company's stock, valued at approximately $2,004,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in FMX. ANTIPODES PARTNERS Ltd boosted its position in shares of Fomento Económico Mexicano by 28.4% in the fourth quarter. ANTIPODES PARTNERS Ltd now owns 815,739 shares of the company's stock worth $69,743,000 after acquiring an additional 180,244 shares during the last quarter. Generali Investments CEE investicni spolecnost a.s. acquired a new position in shares of Fomento Económico Mexicano in the 4th quarter valued at $274,000. Callan Family Office LLC purchased a new stake in shares of Fomento Económico Mexicano during the 4th quarter valued at $372,000. Raymond James Financial Inc. acquired a new stake in shares of Fomento Económico Mexicano during the 4th quarter worth $813,000. Finally, Aigen Investment Management LP raised its position in shares of Fomento Económico Mexicano by 20.2% in the 4th quarter. Aigen Investment Management LP now owns 20,199 shares of the company's stock worth $1,727,000 after buying an additional 3,399 shares during the period. Hedge funds and other institutional investors own 61.00% of the company's stock.

Fomento Económico Mexicano Stock Down 0.4 %

Shares of FMX traded down $0.40 during mid-day trading on Wednesday, reaching $96.70. 356,817 shares of the stock traded hands, compared to its average volume of 612,989. The firm has a market cap of $34.60 billion, a price-to-earnings ratio of 24.79, a P/E/G ratio of 5.26 and a beta of 0.87. The stock has a fifty day simple moving average of $90.80 and a 200 day simple moving average of $92.36. The company has a quick ratio of 1.32, a current ratio of 1.62 and a debt-to-equity ratio of 0.37. Fomento Económico Mexicano, S.A.B. de C.V. has a 12-month low of $81.08 and a 12-month high of $131.56.

Remove Ads

Fomento Económico Mexicano (NYSE:FMX - Get Free Report) last released its quarterly 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). The firm 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 expect 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 declared a dividend, which was paid on Friday, January 17th. Investors of record on Friday, January 17th were issued a $0.9201 dividend. The ex-dividend date was Friday, January 17th. This is an increase from Fomento Económico Mexicano's previous dividend of $0.74. Fomento Económico Mexicano's dividend payout ratio is currently 11.03%.

Analyst Upgrades and Downgrades

FMX has been the subject of several research analyst reports. Barclays upped their price target on Fomento Económico Mexicano from $99.00 to $102.00 and gave the stock an "equal weight" rating in a research note on Tuesday, March 4th. UBS Group increased 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. Finally, The Goldman Sachs Group cut their price objective on Fomento Económico Mexicano from $109.00 to $97.80 and set a "buy" rating on the stock in a research report on Tuesday, January 28th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $103.95.

Fomento Económico Mexicano Company 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.