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

Madison Investment Advisors LLC acquired a new stake in shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) in the fourth quarter, HoldingsChannel reports. The institutional investor acquired 23,437 shares of the company’s stock, valued at approximately $2,004,000.

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

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Barclays lifted their target price on Fomento Económico Mexicano from $99.00 to $102.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 4th. The Goldman Sachs Group reduced their target price on Fomento Económico Mexicano from $109.00 to $97.80 and set a “buy” rating for the company in a report on Tuesday, January 28th. Finally, UBS Group lifted their target price on Fomento Económico Mexicano from $94.00 to $107.00 and gave the stock a “neutral” rating in a report on Friday, March 14th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Fomento Económico Mexicano has a consensus rating of “Hold” and a consensus target price of $103.95.

Fomento Económico Mexicano Stock Performance

Shares of FMX opened at $97.29 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. Fomento Económico Mexicano, S.A.B. de C.V. has a one year low of $81.08 and a one year high of $131.56. The firm has a market capitalization of $34.81 billion, a P/E ratio of 24.95, a PEG ratio of 5.26 and a beta of 0.87. The business has a fifty day moving average of $90.26 and a 200 day moving average of $92.56.

Fomento Económico Mexicano (NYSE:FMX) last issued its quarterly earnings data on Thursday, February 27th. The company reported $0.46 EPS for the quarter, missing the consensus estimate of $1.51 by ($1.05). Fomento Económico Mexicano had a return on equity of 8.37% and a net margin of 3.22%. The firm had revenue of $9.99 billion during the quarter, compared to the consensus estimate of $201.67 billion. As a group, sell-side analysts anticipate 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 company also recently disclosed 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 of this dividend was Friday, January 17th. This is a positive change from Fomento Económico Mexicano’s previous dividend of $0.74. Fomento Económico Mexicano’s payout ratio is presently 11.03%.

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.