Fomento Economico Mexicano S.A.B. de C.V. $FMX Shares Bought by Quadrant Capital Group LLC

Quadrant Capital Group LLC grew its holdings in shares of Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) by 20.6% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 6,842 shares of the company’s stock after purchasing an additional 1,171 shares during the quarter. Quadrant Capital Group LLC’s holdings in Fomento Economico Mexicano were worth $705,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd acquired a new stake in Fomento Economico Mexicano in the 1st quarter valued at approximately $29,000. Farther Finance Advisors LLC grew its stake in shares of Fomento Economico Mexicano by 41.4% in the second quarter. Farther Finance Advisors LLC now owns 369 shares of the company’s stock worth $38,000 after purchasing an additional 108 shares in the last quarter. Steward Partners Investment Advisory LLC bought a new position in shares of Fomento Economico Mexicano in the second quarter worth $40,000. Banque Cantonale Vaudoise acquired a new position in shares of Fomento Economico Mexicano during the first quarter valued at $51,000. Finally, Brooklyn Investment Group raised its stake in shares of Fomento Economico Mexicano by 112.4% during the first quarter. Brooklyn Investment Group now owns 722 shares of the company’s stock valued at $70,000 after purchasing an additional 382 shares in the last quarter. 61.00% of the stock is owned by institutional investors.

Fomento Economico Mexicano Stock Performance

NYSE:FMX opened at $96.31 on Tuesday. The company has a 50-day moving average of $95.15 and a 200-day moving average of $96.19. The firm has a market cap of $34.46 billion, a price-to-earnings ratio of 38.84, a price-to-earnings-growth ratio of 5.54 and a beta of 0.70. The company has a current ratio of 1.10, a quick ratio of 1.06 and a debt-to-equity ratio of 0.50. 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.

Fomento Economico Mexicano (NYSE:FMX) last released its earnings results on Tuesday, October 28th. The company reported $0.88 EPS for the quarter, missing the consensus estimate of $1.06 by ($0.18). The business had revenue of $11.72 billion for the quarter, compared to analyst estimates of $215.60 billion. Fomento Economico Mexicano had a net margin of 2.09% and a return on equity of 5.01%. Analysts forecast that Fomento Economico Mexicano S.A.B. de C.V. will post 5.32 earnings per share for the current fiscal year.

Fomento Economico Mexicano Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 27th. Stockholders of record on Thursday, October 16th were paid a dividend of $1.9982 per share. The ex-dividend date of this dividend was Thursday, October 16th. This represents a $7.99 annualized dividend and a dividend yield of 8.3%. This is a boost from Fomento Economico Mexicano’s previous quarterly dividend of $1.36. Fomento Economico Mexicano’s dividend payout ratio is 89.92%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on FMX shares. Morgan Stanley reiterated an “equal weight” rating and issued a $97.00 target price (down previously from $132.00) on shares of Fomento Economico Mexicano in a research report on Tuesday, August 19th. UBS Group raised shares of Fomento Economico Mexicano from a “neutral” rating to a “buy” rating and reduced their price target for the stock from $115.00 to $111.00 in a research note on Friday, September 19th. Zacks Research upgraded shares of Fomento Economico Mexicano from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 28th. Citigroup upgraded shares of Fomento Economico Mexicano from a “neutral” rating to a “buy” rating and raised their price objective for the company from $93.00 to $97.00 in a research note on Tuesday, September 9th. Finally, Barclays dropped their target price on Fomento Economico Mexicano from $107.00 to $105.00 and set an “equal weight” rating on the stock in a report on Monday, November 3rd. Four investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Fomento Economico Mexicano presently has a consensus rating of “Hold” and an average target price of $101.63.

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.