Long Pond Capital LP Buys Shares of 1,311,151 Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Long Pond Capital LP bought a new position in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) in the first quarter, Holdings Channel reports. The firm bought 1,311,151 shares of the company’s stock, valued at approximately $98,769,000. Fomento Económico Mexicano accounts for approximately 3.4% of Long Pond Capital LP’s investment portfolio, making the stock its 13th largest position.

A number of other hedge funds have also recently modified their holdings of FMX. Pinnacle Bancorp Inc. boosted its holdings in Fomento Económico Mexicano by 68.6% in the 1st quarter. Pinnacle Bancorp Inc. now owns 327 shares of the company’s stock worth $25,000 after buying an additional 133 shares during the last quarter. Capital Asset Advisory Services LLC acquired a new stake in shares of Fomento Económico Mexicano during the fourth quarter worth about $31,000. JFS Wealth Advisors LLC boosted its holdings in Fomento Económico Mexicano by 144.4% in the first quarter. JFS Wealth Advisors LLC now owns 440 shares of the company’s stock valued at $33,000 after purchasing an additional 260 shares during the period. Marshall Wace LLP purchased a new stake in Fomento Económico Mexicano during the 1st quarter worth about $36,000. Finally, Sageworth Trust Co purchased a new position in Fomento Económico Mexicano in the first quarter worth approximately $40,000.

A number of equities analysts recently issued reports on the company. Bank of America raised Fomento Económico Mexicano from an “underperform” rating to a “buy” rating and upped their price target for the company from $135.00 to $200.00 in a report on Monday, March 15th. Zacks Investment Research lowered Fomento Económico Mexicano from a “hold” rating to a “strong sell” rating and set a $59.00 price target on the stock. in a report on Monday, February 15th. Finally, Itau BBA Securities raised Fomento Económico Mexicano from a “market perform” rating to an “outperform” rating and set a $99.00 price objective for the company in a research report on Monday, April 5th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $101.80.

FMX stock traded up $0.18 during trading on Friday, reaching $86.48. 11,162 shares of the company were exchanged, compared to its average volume of 467,348. The company has a current ratio of 1.61, a quick ratio of 1.27 and a debt-to-equity ratio of 0.59. The firm’s 50 day moving average is $81.20. Fomento Económico Mexicano, S.A.B. de C.V. has a 52-week low of $52.91 and a 52-week high of $86.86. The stock has a market cap of $30.94 billion, a P/E ratio of -195.91, a P/E/G ratio of 3.20 and a beta of 1.06.

Fomento Económico Mexicano (NYSE:FMX) last issued its quarterly earnings data on Thursday, April 29th. The company reported $0.74 EPS for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.35. The firm had revenue of $6.12 billion for the quarter, compared to analysts’ expectations of $6.13 billion. Fomento Económico Mexicano had a negative net margin of 0.83% and a negative return on equity of 0.36%. Equities analysts expect that Fomento Económico Mexicano, S.A.B. de C.V. will post 2.92 earnings per share for the current fiscal year.

The company also recently announced a semi-annual dividend, which was paid on Monday, May 17th. Investors of record on Wednesday, May 5th were paid a $0.5771 dividend. This represents a yield of 1.7%. The ex-dividend date was Tuesday, May 4th. Fomento Económico Mexicano’s payout ratio is 466.67%.

About Fomento Económico Mexicano

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, including low-sugar or sugar-free carbonated beverages; refreshing juices, nectars, and fruit-based drinks; purified, and carbonated and flavored water; coffees, teas, and sports and energy drinks; and dairy products and products based on vegetable protein.

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Institutional Ownership by Quarter for Fomento Económico Mexicano (NYSE:FMX)

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