ABS Direct Equity Fund LLC Makes New $9.01 Million Investment in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

ABS Direct Equity Fund LLC bought a new position in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) in the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 69,100 shares of the company’s stock, valued at approximately $9,007,000. Fomento Económico Mexicano comprises approximately 8.5% of ABS Direct Equity Fund LLC’s portfolio, making the stock its 2nd biggest position.

Several other institutional investors have also modified their holdings of FMX. Morningstar Investment Services LLC raised its position in shares of Fomento Económico Mexicano by 2.0% during the 3rd quarter. Morningstar Investment Services LLC now owns 97,466 shares of the company’s stock valued at $10,517,000 after buying an additional 1,902 shares during the period. Barclays PLC raised its position in Fomento Económico Mexicano by 170.3% in the third quarter. Barclays PLC now owns 17,782 shares of the company’s stock valued at $1,941,000 after purchasing an additional 11,204 shares during the period. QRG Capital Management Inc. purchased a new position in shares of Fomento Económico Mexicano during the 3rd quarter worth $456,000. JPMorgan Chase & Co. increased its position in shares of Fomento Económico Mexicano by 11.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,880,584 shares of the company’s stock worth $205,266,000 after purchasing an additional 193,543 shares during the last quarter. Finally, Black Creek Investment Management Inc. raised its holdings in Fomento Económico Mexicano by 10.1% in the 3rd quarter. Black Creek Investment Management Inc. now owns 774,625 shares of the company’s stock valued at $84,550,000 after buying an additional 71,093 shares during the period.

Fomento Económico Mexicano Stock Up 1.0 %

FMX stock traded up $1.12 during midday trading on Friday, hitting $118.68. The company’s stock had a trading volume of 437,698 shares, compared to its average volume of 851,477. The firm has a 50-day simple moving average of $123.75 and a 200-day simple moving average of $125.78. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.63 and a current ratio of 1.95. Fomento Económico Mexicano, S.A.B. de C.V. has a 52-week low of $95.49 and a 52-week high of $143.43.

Fomento Económico Mexicano (NYSE:FMX) last released its earnings results on Friday, February 23rd. The company reported $1.07 earnings per share (EPS) for the quarter. Fomento Económico Mexicano had a return on equity of 8.20% and a net margin of 2.91%. The firm had revenue of $11.23 billion during the quarter, compared to analyst estimates of $11.21 billion. As a group, equities analysts predict that Fomento Económico Mexicano, S.A.B. de C.V. will post 5.52 EPS for the current year.

Fomento Económico Mexicano Increases Dividend

The business also recently disclosed an annual dividend, which was paid on Monday, April 29th. Stockholders of record on Wednesday, April 17th were given a dividend of $1.115 per share. The ex-dividend date of this dividend was Tuesday, April 16th. This is an increase from Fomento Económico Mexicano’s previous annual dividend of $0.74. This represents a dividend yield of 0.87%. Fomento Económico Mexicano’s payout ratio is currently 16.80%.

Analyst Ratings Changes

FMX has been the subject of several research analyst reports. Bank of America reaffirmed a “neutral” rating on shares of Fomento Económico Mexicano in a research note on Monday, February 26th. HSBC raised Fomento Económico Mexicano from a “hold” rating to a “buy” rating and boosted their target price for the company from $124.00 to $152.00 in a research report on Friday, February 9th. UBS Group lowered Fomento Económico Mexicano from a “buy” rating to a “neutral” rating in a research report on Friday, January 12th. Finally, StockNews.com downgraded Fomento Económico Mexicano from a “buy” rating to a “hold” rating in a report on Monday, February 26th. Five equities research 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, the stock presently has an average rating of “Hold” and a consensus price target of $135.75.

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.