Sustainable Growth Advisers LP decreased its stake in Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX – Free Report) by 20.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 83,548 shares of the company’s stock after selling 21,700 shares during the quarter. Sustainable Growth Advisers LP’s holdings in Fomento Economico Mexicano were worth $9,905,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also modified their holdings of the stock. V Square Quantitative Management LLC acquired a new position in shares of Fomento Economico Mexicano during the 1st quarter worth about $28,000. Pin Oak Investment Advisors Inc. purchased a new position in Fomento Economico Mexicano in the 2nd quarter valued at about $33,000. GAMMA Investing LLC lifted its stake in Fomento Economico Mexicano by 79.2% in the 3rd quarter. GAMMA Investing LLC now owns 396 shares of the company’s stock valued at $47,000 after buying an additional 175 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its holdings in Fomento Economico Mexicano by 92.4% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 762 shares of the company’s stock worth $77,000 after buying an additional 366 shares during the last quarter. Finally, Trust Co. of Vermont acquired a new stake in Fomento Economico Mexicano in the 2nd quarter worth about $102,000. Hedge funds and other institutional investors own 61.00% of the company’s stock.
Insiders Place Their Bets
In other Fomento Economico Mexicano news, Director Michael David Kahn bought 2,100 shares of the firm’s stock in a transaction on Tuesday, August 11th. The shares were acquired at an average cost of $118.13 per share, with a total value of $248,073.00. Following the purchase, the director directly owned 2,100 shares of the company’s stock, valued at $248,073. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 5.68% of the stock is owned by company insiders.
Fomento Economico Mexicano Price Performance
Shares of NYSE FMX opened at $120.92 on Friday. The firm has a 50-day simple moving average of $119.43 and a 200-day simple moving average of $121.46. The stock has a market capitalization of $41.78 billion, a price-to-earnings ratio of 33.06, a price-to-earnings-growth ratio of 0.64 and a beta of 0.41. The company has a quick ratio of 0.85, a current ratio of 1.14 and a debt-to-equity ratio of 0.41. Fomento Economico Mexicano S.A.B. de C.V. has a 52 week low of $90.87 and a 52 week high of $141.47.
Fomento Economico Mexicano (NYSE:FMX – Get Free Report) last posted its quarterly earnings results on Tuesday, June 30th. The company reported $0.93 earnings per share for the quarter. The firm had revenue of $13.20 billion for the quarter. Fomento Economico Mexicano had a net margin of 3.60% and a return on equity of 7.24%. On average, equities analysts predict that Fomento Economico Mexicano S.A.B. de C.V. will post 6.35 earnings per share for the current fiscal year.
Fomento Economico Mexicano Cuts Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 26th. Shareholders of record on Wednesday, October 14th will be issued a $1.7804 dividend. This represents a $7.12 dividend on an annualized basis and a yield of 5.9%. The ex-dividend date is Wednesday, October 14th. This is a negative change from Fomento Economico Mexicano’s previous quarterly dividend of $1.8270. Fomento Economico Mexicano’s payout ratio is currently 47.60%.
Wall Street Analyst Weigh In
Several research firms have commented on FMX. Wall Street Zen lowered Fomento Economico Mexicano from a “buy” rating to a “hold” rating in a research note on Saturday, July 18th. JPMorgan Chase & Co. raised their target price on Fomento Economico Mexicano from $117.00 to $126.00 and gave the company an “overweight” rating in a research report on Friday, June 26th. Barclays raised their target price on Fomento Economico Mexicano from $125.00 to $130.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 14th. Bank of America raised Fomento Economico Mexicano from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $125.00 to $150.00 in a research note on Tuesday, August 4th. Finally, Weiss Ratings raised Fomento Economico Mexicano from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, September 4th. Three investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $135.67.
View Our Latest Stock Analysis on FMX
Fomento Economico Mexicano Profile
Fomento Económico Mexicano, SAB. de C.V. (FEMSA) is a Mexico-based multinational company with operations in beverage production, retail, and logistics. Through Coca-Cola FEMSA, it produces, distributes, and markets Coca-Cola products and other beverages under a portfolio that includes soft drinks, bottled water, juices, and related products.
Coca-Cola FEMSA serves customers across several Latin American markets, including Mexico, Brazil, Colombia, Guatemala, Costa Rica, Panama, Nicaragua, Argentina, and Venezuela.
Featured Stories
- Five stocks we like better than Fomento Economico Mexicano
- ASML Can’t Keep Up With AI Demand—Why That’s a Good Thing
- Enovix’s 100,000-Battery Drone Order Sets Up a Test of Its Production Plans
- AMD’s Support Could Help Fermi Stock Overcome Its Biggest Hurdle
- Beyond the GPU: Credo Paves the Next AI Data Superhighway
Want to see what other hedge funds are holding FMX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX – Free Report).
Receive News & Ratings for Fomento Economico Mexicano Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fomento Economico Mexicano and related companies with MarketBeat.com's FREE daily email newsletter.
