Janney Montgomery Scott LLC boosted its holdings in Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX – Free Report) by 3,193.0% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 78,605 shares of the company’s stock after acquiring an additional 76,218 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Fomento Economico Mexicano were worth $8,730,000 at the end of the most recent reporting period.
Several other large investors have also bought and sold shares of the business. Northwestern Mutual Wealth Management Co. grew its position in Fomento Economico Mexicano by 2,006.2% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 337 shares of the company’s stock valued at $35,000 after acquiring an additional 321 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of Fomento Economico Mexicano by 42.5% in the second quarter. Tower Research Capital LLC TRC now owns 439 shares of the company’s stock worth $45,000 after acquiring an additional 131 shares during the last quarter. Atlas Capital Advisors Inc. bought a new position in shares of Fomento Economico Mexicano in the fourth quarter worth about $50,000. Brown Brothers Harriman & Co. boosted its stake in shares of Fomento Economico Mexicano by 220.8% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 725 shares of the company’s stock valued at $72,000 after purchasing an additional 499 shares in the last quarter. Finally, UMB Bank n.a. grew its holdings in shares of Fomento Economico Mexicano by 15.1% during the 4th quarter. UMB Bank n.a. now owns 733 shares of the company’s stock valued at $74,000 after purchasing an additional 96 shares during the last quarter. 61.00% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
FMX has been the subject of a number of research analyst reports. Barclays upped their price objective on shares of Fomento Economico Mexicano from $118.00 to $125.00 and gave the stock an “equal weight” rating in a research report on Monday, May 4th. Weiss Ratings upgraded shares of Fomento Economico Mexicano from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 11th. JPMorgan Chase & Co. boosted their target price on shares of Fomento Economico Mexicano from $117.00 to $126.00 and gave the stock an “overweight” rating in a research note on Friday, June 26th. Wall Street Zen downgraded shares of Fomento Economico Mexicano from a “strong-buy” rating to a “buy” rating in a report on Monday, May 11th. Finally, Zacks Research upgraded Fomento Economico Mexicano from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Fomento Economico Mexicano currently has an average rating of “Moderate Buy” and an average price target of $118.67.
Fomento Economico Mexicano Stock Performance
NYSE:FMX opened at $129.24 on Friday. The stock has a market cap of $44.66 billion, a P/E ratio of 28.91, a price-to-earnings-growth ratio of 0.70 and a beta of 0.41. The company has a current ratio of 1.16, a quick ratio of 0.87 and a debt-to-equity ratio of 0.47. The stock’s 50-day moving average is $122.74 and its 200-day moving average is $113.23. Fomento Economico Mexicano S.A.B. de C.V. has a 1-year low of $83.08 and a 1-year high of $131.81.
Fomento Economico Mexicano (NYSE:FMX – Get Free Report) last released its quarterly earnings data on Tuesday, March 31st. The company reported $2.43 earnings per share (EPS) for the quarter. The company had revenue of $11.61 billion during the quarter. Fomento Economico Mexicano had a return on equity of 7.33% and a net margin of 3.40%. Equities research analysts anticipate that Fomento Economico Mexicano S.A.B. de C.V. will post 6.19 earnings per share for the current year.
Fomento Economico Mexicano Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, July 27th. Shareholders of record on Wednesday, July 15th will be given a $1.827 dividend. This is an increase from Fomento Economico Mexicano’s previous quarterly dividend of $0.67. The ex-dividend date is Wednesday, July 15th. This represents a $7.31 annualized dividend and a yield of 5.7%. Fomento Economico Mexicano’s dividend payout ratio is currently 53.47%.
Fomento Economico Mexicano Profile
Fomento Económico Mexicano, SAB. de C.V. (FEMSA) is a Mexican multinational company active primarily in the retail and beverage sectors. Headquartered in Monterrey, Mexico, FEMSA’s operations span convenience store retailing, beverage bottling and distribution, and related logistics and consumer services. The company’s business model combines high-frequency retail outlets with large-scale beverage production and a regional supply chain network.
FEMSA Comercio, the company’s retail arm, operates a large chain of convenience stores under the OXXO brand and has expanded its retail footprint with complementary formats and services.
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