Fomento Economico Mexicano S.A.B. de C.V. $FMX Shares Purchased by Invesco Ltd.

Invesco Ltd. raised its stake in shares of Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) by 21.7% in the 2nd quarter, Holdings Channel reports. The fund owned 623,833 shares of the company’s stock after acquiring an additional 111,127 shares during the quarter. Invesco Ltd.’s holdings in Fomento Economico Mexicano were worth $64,242,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in FMX. Citigroup Inc. grew its stake in shares of Fomento Economico Mexicano by 309.6% in the 2nd quarter. Citigroup Inc. now owns 1,714,895 shares of the company’s stock valued at $176,600,000 after purchasing an additional 1,296,194 shares during the last quarter. Itau Unibanco Holding S.A. lifted its holdings in shares of Fomento Economico Mexicano by 105.4% during the first quarter. Itau Unibanco Holding S.A. now owns 1,112,036 shares of the company’s stock worth $106,139,000 after purchasing an additional 570,640 shares during the period. Strs Ohio purchased a new position in Fomento Economico Mexicano in the 1st quarter valued at $28,718,000. Acadian Asset Management LLC increased its stake in Fomento Economico Mexicano by 325.7% in the 1st quarter. Acadian Asset Management LLC now owns 383,644 shares of the company’s stock valued at $37,421,000 after buying an additional 293,524 shares during the period. Finally, INCA Investments LLC raised its position in Fomento Economico Mexicano by 106.1% during the 2nd quarter. INCA Investments LLC now owns 274,769 shares of the company’s stock worth $28,296,000 after buying an additional 141,419 shares during the last quarter. 61.00% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. JPMorgan Chase & Co. boosted their price target on shares of Fomento Economico Mexicano from $96.00 to $102.00 and gave the stock a “neutral” rating in a research note on Monday, October 20th. Morgan Stanley reiterated an “equal weight” rating and set 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 Fomento Economico Mexicano from a “neutral” rating to a “buy” rating and cut their target price for the stock from $115.00 to $111.00 in a research note on Friday, September 19th. Citigroup raised Fomento Economico Mexicano from a “neutral” rating to a “buy” rating and raised their price target for the company from $93.00 to $97.00 in a report on Tuesday, September 9th. Finally, Zacks Research raised Fomento Economico Mexicano from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 28th. Four analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $101.63.

Fomento Economico Mexicano Stock Performance

Shares of FMX stock opened at $103.44 on Thursday. The stock has a fifty day moving average price of $95.73 and a 200 day moving average price of $96.05. The stock has a market cap of $37.01 billion, a PE ratio of 41.71, a P/E/G ratio of 5.14 and a beta of 0.47. 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 0.50, a quick ratio of 0.90 and a current ratio of 1.10.

Fomento Economico Mexicano (NYSE:FMX) last posted its earnings results on Tuesday, October 28th. The company reported $0.88 earnings per share for the quarter, missing the consensus estimate of $1.06 by ($0.18). The firm had revenue of $11.72 billion during 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%. Sell-side 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 firm also recently announced a quarterly dividend, which was paid on Monday, October 27th. Shareholders of record on Thursday, October 16th were issued a dividend of $1.9982 per share. This is an increase from Fomento Economico Mexicano’s previous quarterly dividend of $1.36. The ex-dividend date was Thursday, October 16th. This represents a $7.99 annualized dividend and a yield of 7.7%. Fomento Economico Mexicano’s payout ratio is 90.32%.

About Fomento Economico Mexicano

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.