Asset Value Investors Ltd Makes New $42.79 Million Investment in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Asset Value Investors Ltd purchased a new position in shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 500,565 shares of the company’s stock, valued at approximately $42,793,000. Fomento Económico Mexicano makes up about 19.2% of Asset Value Investors Ltd’s investment portfolio, making the stock its 2nd largest holding. Asset Value Investors Ltd owned approximately 0.14% of Fomento Económico Mexicano as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in FMX. Park Avenue Securities LLC acquired a new stake in shares of Fomento Económico Mexicano in the fourth quarter valued at $225,000. Wells Fargo & Company MN raised its stake in shares of Fomento Económico Mexicano by 17.0% in the fourth quarter. Wells Fargo & Company MN now owns 28,135 shares of the company’s stock valued at $2,405,000 after acquiring an additional 4,096 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Fomento Económico Mexicano by 1.9% in the fourth 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 in the last quarter. Atomi Financial Group Inc. raised its stake in shares of Fomento Económico Mexicano by 13.5% in the fourth quarter. Atomi Financial Group Inc. now owns 2,800 shares of the company’s stock valued at $239,000 after acquiring an additional 334 shares in the last quarter. Finally, Franklin Resources Inc. raised its stake in shares of Fomento Económico Mexicano by 4.2% in the fourth quarter. Franklin Resources Inc. now owns 3,117 shares of the company’s stock valued at $266,000 after acquiring an additional 125 shares in the last quarter. 61.00% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Barclays increased their price objective on Fomento Económico Mexicano from $102.00 to $108.00 and gave the company an “equal weight” rating in a research note on Monday, May 12th. Itau BBA Securities upgraded Fomento Económico Mexicano from a “market perform” rating to an “outperform” rating in a research note on Monday, April 7th. The Goldman Sachs Group reduced their price objective on 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. Wall Street Zen cut Fomento Económico Mexicano from a “buy” rating to a “hold” rating in a research note on Wednesday, April 30th. Finally, UBS Group increased their target price on Fomento Económico Mexicano from $107.00 to $112.00 and gave the company a “neutral” rating in a report on Thursday, May 15th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $106.70.

Fomento Económico Mexicano Stock Performance

Shares of FMX stock opened at $106.71 on Tuesday. The stock’s 50-day moving average is $101.65 and its two-hundred day moving average is $93.35. The firm has a market cap of $38.18 billion, a price-to-earnings ratio of 27.36, a PEG ratio of 5.26 and a beta of 0.69. Fomento Económico Mexicano, S.A.B. de C.V. has a 1 year low of $81.08 and a 1 year high of $119.18. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.32 and a current ratio of 1.62.

Fomento Económico Mexicano (NYSE:FMX) last issued its quarterly earnings data on Monday, April 28th. The company reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.07). The firm had revenue of $9.65 billion for the quarter, compared to analysts’ expectations of $194.75 billion. Fomento Económico Mexicano had a return on equity of 8.37% and a net margin of 3.22%. Analysts predict that Fomento Económico Mexicano, S.A.B. de C.V. will post 5.32 earnings per share for the current year.

Fomento Económico Mexicano Increases Dividend

The company also recently disclosed a dividend, which was paid on Monday, May 5th. Shareholders of record on Friday, April 25th were issued 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 dividend yield of 1.57%. Fomento Económico Mexicano’s dividend payout ratio (DPR) is presently 11.41%.

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.