Fomento Economico Mexicano S.A.B. de C.V. $FMX Shares Bought by Whittier Trust Co.

Whittier Trust Co. raised its position in Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) by 35.0% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 14,950 shares of the company’s stock after purchasing an additional 3,878 shares during the period. Whittier Trust Co.’s holdings in Fomento Economico Mexicano were worth $1,540,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Royal Bank of Canada grew its holdings in Fomento Economico Mexicano by 1.9% in the first quarter. Royal Bank of Canada now owns 5,369,981 shares of the company’s stock valued at $524,003,000 after purchasing an additional 100,898 shares during the last quarter. Nuveen LLC purchased a new stake in shares of Fomento Economico Mexicano in the first quarter valued at $330,437,000. Aberdeen Group plc lifted its position in shares of Fomento Economico Mexicano by 10.8% in the second quarter. Aberdeen Group plc now owns 1,155,766 shares of the company’s stock valued at $119,414,000 after acquiring an additional 112,813 shares in the last quarter. Itau Unibanco Holding S.A. lifted its position in shares of Fomento Economico Mexicano by 105.4% in the first quarter. Itau Unibanco Holding S.A. now owns 1,112,036 shares of the company’s stock valued at $106,139,000 after acquiring an additional 570,640 shares in the last quarter. Finally, Perpetual Ltd lifted its position in shares of Fomento Economico Mexicano by 5.7% in the first quarter. Perpetual Ltd now owns 977,342 shares of the company’s stock valued at $95,369,000 after acquiring an additional 52,673 shares in the last quarter. Institutional investors and hedge funds own 61.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on FMX shares. Citigroup upgraded Fomento Economico Mexicano from a “neutral” rating to a “buy” rating and upped their price objective for the company from $93.00 to $97.00 in a research report on Tuesday, September 9th. JPMorgan Chase & Co. upped their price objective on Fomento Economico Mexicano from $96.00 to $102.00 and gave the company a “neutral” rating in a research report on Monday. Morgan Stanley restated an “equal weight” rating and issued a $97.00 price objective (down from $132.00) on shares of Fomento Economico Mexicano in a research report on Tuesday, August 19th. Zacks Research downgraded Fomento Economico Mexicano from a “hold” rating to a “strong sell” rating in a research report on Friday, September 5th. Finally, UBS Group upgraded Fomento Economico Mexicano from a “neutral” rating to a “buy” rating and reduced their price objective for the company from $115.00 to $111.00 in a research report on Friday, September 19th. Four analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Fomento Economico Mexicano currently has an average rating of “Hold” and a consensus price target of $101.97.

Fomento Economico Mexicano Stock Performance

NYSE FMX opened at $96.03 on Thursday. The business’s 50-day moving average price is $91.58 and its 200 day moving average price is $97.67. Fomento Economico Mexicano S.A.B. de C.V. has a twelve month low of $81.07 and a twelve month high of $108.74. The company has a market capitalization of $34.36 billion, a PE ratio of 32.66, a price-to-earnings-growth ratio of 5.45 and a beta of 0.72. The company has a current ratio of 1.34, a quick ratio of 1.06 and a debt-to-equity ratio of 0.42.

Fomento Economico Mexicano (NYSE:FMX) last released its earnings results on Monday, July 28th. The company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.91 by ($0.49). The business had revenue of $11.27 billion for the quarter, compared to analysts’ expectations of $216.71 billion. Fomento Economico Mexicano had a return on equity of 5.32% and a net margin of 2.60%. On average, research analysts predict that Fomento Economico Mexicano S.A.B. de C.V. will post 5.32 earnings per share for the current year.

Fomento Economico Mexicano Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, October 27th. Shareholders of record on Thursday, October 16th will be paid a dividend of $1.9982 per share. This is a boost from Fomento Economico Mexicano’s previous quarterly dividend of $1.36. This represents a $7.99 annualized dividend and a yield of 8.3%. The ex-dividend date is Thursday, October 16th. Fomento Economico Mexicano’s payout ratio is currently 76.19%.

Fomento Economico Mexicano Profile

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.