Deprince Race & Zollo Inc. lifted its position in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) by 2.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,900 shares of the company’s stock after acquiring an additional 1,100 shares during the quarter. Deprince Race & Zollo Inc.’s holdings in Fomento Económico Mexicano were worth $3,006,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. Pinnacle Bancorp Inc. raised its holdings in shares of Fomento Económico Mexicano by 68.6% in the first quarter. Pinnacle Bancorp Inc. now owns 327 shares of the company’s stock valued at $25,000 after acquiring an additional 133 shares in the last quarter. Marshall Wace LLP bought a new stake in shares of Fomento Económico Mexicano in the first quarter valued at about $36,000. Capital Asset Advisory Services LLC bought a new stake in shares of Fomento Económico Mexicano in the fourth quarter valued at about $31,000. JFS Wealth Advisors LLC raised its holdings in shares of 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 acquiring an additional 260 shares in the last quarter. Finally, Sageworth Trust Co bought a new stake in shares of Fomento Económico Mexicano in the first quarter valued at about $40,000.
Separately, Itau BBA Securities upgraded Fomento Económico Mexicano from a “market perform” rating to an “outperform” rating and set a $99.00 price objective for the company in a 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 stock has a consensus rating of “Hold” and a consensus price target of $101.80.
Fomento Económico Mexicano (NYSE:FMX) last posted its earnings results on Thursday, April 29th. The company reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.35. Fomento Económico Mexicano had a negative return on equity of 0.36% and a negative net margin of 0.83%. The company had revenue of $6.12 billion for the quarter, compared to analyst estimates of $6.13 billion. Sell-side analysts predict that Fomento Económico Mexicano, S.A.B. de C.V. will post 3.03 EPS for the current fiscal year.
The business also recently announced a semi-annual dividend, which was paid on Monday, May 17th. Shareholders of record on Wednesday, May 5th were paid a $0.5771 dividend. The ex-dividend date of this dividend was Tuesday, May 4th. This represents a yield of 1.7%. Fomento Económico Mexicano’s dividend payout ratio (DPR) is presently 466.67%.
Fomento Económico Mexicano Company Profile
Fomento EconÃ³mico 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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