Royal Bank of Canada boosted its stake in Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX – Free Report) by 3.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,218,709 shares of the company’s stock after purchasing an additional 193,432 shares during the quarter. Royal Bank of Canada’s holdings in Fomento Economico Mexicano were worth $690,649,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also added to or reduced their stakes in the stock. Nuveen LLC increased its position in shares of Fomento Economico Mexicano by 2.4% during the fourth quarter. Nuveen LLC now owns 3,850,882 shares of the company’s stock valued at $389,209,000 after buying an additional 88,721 shares during the period. Invesco Ltd. boosted its position in shares of Fomento Economico Mexicano by 18.9% in the fourth quarter. Invesco Ltd. now owns 1,244,820 shares of the company’s stock valued at $125,814,000 after acquiring an additional 197,914 shares during the period. Bank of America Corp DE boosted its position in shares of Fomento Economico Mexicano by 21.2% in the third quarter. Bank of America Corp DE now owns 758,186 shares of the company’s stock valued at $74,780,000 after acquiring an additional 132,440 shares during the period. AQR Capital Management LLC grew its stake in Fomento Economico Mexicano by 11,692.3% during the second quarter. AQR Capital Management LLC now owns 716,029 shares of the company’s stock valued at $73,171,000 after acquiring an additional 709,957 shares in the last quarter. Finally, Lazard Asset Management LLC grew its stake in Fomento Economico Mexicano by 9.8% during the third quarter. Lazard Asset Management LLC now owns 675,809 shares of the company’s stock valued at $66,655,000 after acquiring an additional 60,101 shares in the last quarter. Hedge funds and other institutional investors own 61.00% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research firms recently weighed in on FMX. UBS Group upped their target price on shares of Fomento Economico Mexicano from $122.00 to $139.00 and gave the stock a “buy” rating in a report on Thursday, May 28th. Barclays raised their price target on shares of Fomento Economico Mexicano from $125.00 to $130.00 and gave the company an “equal weight” rating in a report on Tuesday, July 14th. Weiss Ratings raised shares of Fomento Economico Mexicano from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 11th. JPMorgan Chase & Co. increased their price objective on Fomento Economico Mexicano from $117.00 to $126.00 and gave the stock an “overweight” rating in a research report on Friday, June 26th. Finally, Wall Street Zen downgraded Fomento Economico Mexicano from a “buy” rating to a “hold” rating in a research report on Saturday, July 18th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $119.50.
Fomento Economico Mexicano Trading Down 3.7%
Shares of FMX stock opened at $127.29 on Wednesday. The business has a 50-day moving average price of $126.12 and a two-hundred day moving average price of $116.61. Fomento Economico Mexicano S.A.B. de C.V. has a 12-month low of $83.08 and a 12-month high of $141.47. The company has a quick ratio of 0.87, a current ratio of 1.16 and a debt-to-equity ratio of 0.47. The firm has a market cap of $43.98 billion, a P/E ratio of 28.48, a price-to-earnings-growth ratio of 0.71 and a beta of 0.41.
Fomento Economico Mexicano (NYSE:FMX – Get Free Report) last announced its quarterly earnings data on Tuesday, June 30th. The company reported $0.93 EPS for the quarter. The firm had revenue of $13.20 billion for the quarter. Fomento Economico Mexicano had a return on equity of 7.33% and a net margin of 3.40%. Equities analysts anticipate that Fomento Economico Mexicano S.A.B. de C.V. will post 6.19 EPS for the current fiscal year.
Fomento Economico Mexicano Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, July 27th. Shareholders of record on Wednesday, July 15th were given a dividend of $1.827 per share. The ex-dividend date was Wednesday, July 15th. This is an increase from Fomento Economico Mexicano’s previous quarterly dividend of $0.67. This represents a $7.31 dividend on an annualized basis and a yield of 5.7%. Fomento Economico Mexicano’s dividend payout ratio (DPR) is 54.36%.
About Fomento Economico Mexicano
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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