Fomento Economico Mexicano S.A.B. de C.V. $FMX Shares Bought by Ethic Inc.

Ethic Inc. raised its stake in Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) by 7.9% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,676 shares of the company’s stock after purchasing an additional 924 shares during the quarter. Ethic Inc.’s holdings in Fomento Economico Mexicano were worth $1,293,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in FMX. Janney Montgomery Scott LLC acquired a new position in shares of Fomento Economico Mexicano during the 1st quarter valued at $207,000. Crossmark Global Holdings Inc. lifted its holdings in shares of Fomento Economico Mexicano by 29.3% during the 1st quarter. Crossmark Global Holdings Inc. now owns 26,359 shares of the company’s stock valued at $2,572,000 after acquiring an additional 5,977 shares in the last quarter. Royal Bank of Canada lifted its holdings in shares of Fomento Economico Mexicano by 1.9% during the 1st quarter. Royal Bank of Canada now owns 5,369,981 shares of the company’s stock valued at $524,003,000 after acquiring an additional 100,898 shares in the last quarter. INCA Investments LLC lifted its holdings in shares of Fomento Economico Mexicano by 106.1% during the 2nd quarter. INCA Investments LLC now owns 274,769 shares of the company’s stock valued at $28,296,000 after acquiring an additional 141,419 shares in the last quarter. Finally, Cerity Partners LLC lifted its holdings in shares of Fomento Economico Mexicano by 25.4% during the 1st 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. Institutional investors and hedge funds own 61.00% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on FMX shares. JPMorgan Chase & Co. lifted their target price on shares of Fomento Economico Mexicano from $96.00 to $102.00 and gave the company a “neutral” rating in a report on Monday, October 20th. UBS Group upgraded shares of Fomento Economico Mexicano from a “neutral” rating to a “buy” rating and reduced their target price for the company from $115.00 to $111.00 in a report on Friday, September 19th. Barclays reduced their target price on shares of Fomento Economico Mexicano from $110.00 to $107.00 and set an “equal weight” rating on the stock in a report on Thursday, July 31st. Morgan Stanley restated an “equal weight” rating and set a $97.00 target price (down previously from $132.00) on shares of Fomento Economico Mexicano in a report on Tuesday, August 19th. Finally, Citigroup raised shares of Fomento Economico Mexicano from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $93.00 to $97.00 in a research note on Tuesday, September 9th. Four investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Fomento Economico Mexicano presently has an average rating of “Hold” and an average price target of $101.97.

Fomento Economico Mexicano Price Performance

FMX opened at $95.52 on Monday. The company has a 50-day moving average of $92.03 and a 200-day moving average of $97.75. The company has a market capitalization of $34.18 billion, a P/E ratio of 32.49, a PEG ratio of 5.59 and a beta of 0.72. Fomento Economico Mexicano S.A.B. de C.V. has a 1-year low of $81.07 and a 1-year high of $108.74. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.06 and a current ratio of 1.34.

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 company had revenue of $11.27 billion during the quarter, compared to the consensus estimate of $216.71 billion. Fomento Economico Mexicano had a return on equity of 5.32% and a net margin of 2.60%. Equities analysts expect that Fomento Economico Mexicano S.A.B. de C.V. will post 5.32 EPS for the current fiscal year.

Fomento Economico Mexicano Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, October 27th. Stockholders of record on Thursday, October 16th will be given a $1.9982 dividend. This represents a $7.99 annualized dividend and a dividend yield of 8.4%. The ex-dividend date of this dividend is Thursday, October 16th. This is an increase from Fomento Economico Mexicano’s previous quarterly dividend of $1.36. Fomento Economico Mexicano’s payout ratio is presently 75.85%.

Fomento Economico Mexicano Company 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.