Fomento Economico Mexicano S.A.B. de C.V. $FMX Shares Bought by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) by 10.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 114,372 shares of the company’s stock after buying an additional 10,751 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Fomento Economico Mexicano were worth $11,778,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Cerity Partners LLC boosted its stake in Fomento Economico Mexicano by 25.4% in the first quarter. Cerity Partners LLC now owns 13,778 shares of the company’s stock valued at $1,344,000 after acquiring an additional 2,795 shares in the last quarter. Ballentine Partners LLC purchased a new stake in shares of Fomento Economico Mexicano in the 1st quarter valued at about $248,000. Stephens Inc. AR grew its stake in Fomento Economico Mexicano by 2.1% during the 1st quarter. Stephens Inc. AR now owns 5,937 shares of the company’s stock worth $579,000 after buying an additional 121 shares during the last quarter. Whittier Trust Co. increased its position in Fomento Economico Mexicano by 11.1% during the first quarter. Whittier Trust Co. now owns 11,072 shares of the company’s stock worth $1,080,000 after buying an additional 1,110 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. increased its position in Fomento Economico Mexicano by 32.8% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 4,359 shares of the company’s stock worth $425,000 after buying an additional 1,077 shares during the period. 61.00% of the stock is owned by hedge funds and other institutional investors.

Fomento Economico Mexicano Stock Performance

Shares of FMX stock opened at $97.42 on Wednesday. The company has a current ratio of 1.10, a quick ratio of 1.06 and a debt-to-equity ratio of 0.50. The stock has a 50 day simple moving average of $93.94 and a 200-day simple moving average of $97.01. The company has a market cap of $34.85 billion, a price-to-earnings ratio of 39.28, a price-to-earnings-growth ratio of 5.54 and a beta of 0.70. Fomento Economico Mexicano S.A.B. de C.V. has a 12-month low of $81.07 and a 12-month high of $108.74.

Fomento Economico Mexicano (NYSE:FMX) last announced its quarterly earnings data on Tuesday, October 28th. The company reported $0.88 earnings per share for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.18). Fomento Economico Mexicano had a return on equity of 5.01% and a net margin of 2.09%.The business had revenue of $11.71 billion for the quarter, compared to analyst estimates of $215.60 billion. On average, equities analysts forecast that Fomento Economico Mexicano S.A.B. de C.V. will post 5.32 EPS for the current year.

Fomento Economico Mexicano Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 27th. Investors of record on Thursday, October 16th were paid a $1.9982 dividend. This represents a $7.99 annualized dividend and a dividend yield of 8.2%. This is a positive change from Fomento Economico Mexicano’s previous quarterly dividend of $1.36. The ex-dividend date was Thursday, October 16th. Fomento Economico Mexicano’s dividend payout ratio (DPR) is 89.92%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on FMX shares. UBS Group raised Fomento Economico Mexicano from a “neutral” rating to a “buy” rating and decreased their price objective for the company from $115.00 to $111.00 in a report on Friday, September 19th. Barclays lowered their price objective on shares of Fomento Economico Mexicano from $107.00 to $105.00 and set an “equal weight” rating on the stock in a research report on Monday, November 3rd. Citigroup raised shares of Fomento Economico Mexicano from a “neutral” rating to a “buy” rating and upped their target price for the company from $93.00 to $97.00 in a report on Tuesday, September 9th. Weiss Ratings reissued a “hold (c-)” rating on shares of Fomento Economico Mexicano in a report on Wednesday, October 8th. Finally, Zacks Research upgraded Fomento Economico Mexicano from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 28th. Four investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $101.63.

About Fomento Economico 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 in Mexico, Guatemala, Nicaragua, Costa Rica, Panama, Colombia, Venezuela, Brazil, Argentina, and Uruguay.