Bridgefront Capital LLC Acquires Shares of 2,877 Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Bridgefront Capital LLC bought a new position in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 2,877 shares of the company’s stock, valued at approximately $246,000.

Other large investors have also made changes to their positions in the company. Brooklyn Investment Group grew its position in Fomento Económico Mexicano by 82.8% during the 4th 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. Banque Transatlantique SA purchased a new position in shares of Fomento Económico Mexicano during the fourth quarter valued at $44,000. Mather Group LLC. raised its position in Fomento Económico Mexicano by 179.1% during the fourth quarter. Mather Group LLC. now owns 575 shares of the company’s stock valued at $49,000 after buying an additional 369 shares during the period. Exchange Traded Concepts LLC purchased a new stake in Fomento Económico Mexicano in the 4th quarter worth about $51,000. Finally, Rosenberg Matthew Hamilton boosted its position in 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 during the period. Institutional investors and hedge funds own 61.00% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on FMX. UBS Group boosted their price objective on shares of Fomento Económico Mexicano from $94.00 to $107.00 and gave the company a “neutral” rating in a research report on Friday, March 14th. 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. Itau BBA Securities upgraded Fomento Económico Mexicano from a “market perform” rating to an “outperform” rating in a research note on Monday, April 7th. StockNews.com downgraded Fomento Económico Mexicano from a “buy” rating to a “hold” rating in a research note on Wednesday, April 30th. Finally, Barclays boosted their price target on 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. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $103.95.

Fomento Económico Mexicano Price Performance

Shares of NYSE:FMX opened at $101.84 on Friday. The stock has a market capitalization of $36.44 billion, a P/E ratio of 26.11, a P/E/G ratio of 5.26 and a beta of 0.69. The business has a 50-day moving average of $99.99 and a two-hundred day moving average of $92.79. Fomento Económico Mexicano, S.A.B. de C.V. has a fifty-two week low of $81.08 and a fifty-two week high of $123.09. 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 (NYSE:FMX) last announced its earnings results on Monday, April 28th. The company reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.07). Fomento Económico Mexicano had a return on equity of 8.37% and a net margin of 3.22%. The company had revenue of $9.65 billion for the quarter, compared to the consensus estimate of $194.75 billion. On average, equities research analysts predict 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 company also recently announced a dividend, which was paid on Monday, May 5th. Shareholders of record on Friday, April 25th were given a dividend of $1.628 per share. This is a positive change from Fomento Económico Mexicano’s previous dividend of $0.92. The ex-dividend date of this dividend was Thursday, April 24th. This represents a yield of 1.57%. Fomento Económico Mexicano’s payout ratio is currently 11.41%.

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.