SG Americas Securities LLC Increases Stock Position in Fomento Economico Mexicano S.A.B. de C.V. $FMX

SG Americas Securities LLC increased its holdings in Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) by 95.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,788 shares of the company’s stock after acquiring an additional 6,750 shares during the quarter. SG Americas Securities LLC’s holdings in Fomento Economico Mexicano were worth $1,531,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of FMX. AQR Capital Management LLC raised its position in Fomento Economico Mexicano by 11,692.3% in the 2nd quarter. AQR Capital Management LLC now owns 716,029 shares of the company’s stock valued at $73,171,000 after purchasing an additional 709,957 shares during the last quarter. Victory Capital Management Inc. grew its position in Fomento Economico Mexicano by 12,960.1% during the 3rd quarter. Victory Capital Management Inc. now owns 599,982 shares of the company’s stock worth $59,176,000 after purchasing an additional 595,388 shares during the last quarter. CIBC Bancorp USA Inc. purchased a new position in Fomento Economico Mexicano during the 3rd quarter worth $50,343,000. Invesco Ltd. increased its stake in Fomento Economico Mexicano by 67.8% in the third quarter. Invesco Ltd. now owns 1,046,906 shares of the company’s stock valued at $103,256,000 after purchasing an additional 423,073 shares during the period. Finally, Itau Unibanco Holding S.A. acquired a new position in Fomento Economico Mexicano in the fourth quarter valued at $41,408,000. 61.00% of the stock is owned by institutional investors and hedge funds.

Fomento Economico Mexicano Stock Performance

NYSE:FMX opened at $129.24 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.16 and a quick ratio of 0.87. The firm has a market cap of $44.66 billion, a price-to-earnings ratio of 28.91, a price-to-earnings-growth ratio of 0.69 and a beta of 0.41. The firm’s fifty day moving average price is $122.43 and its 200 day moving average price is $113.12. Fomento Economico Mexicano S.A.B. de C.V. has a 1-year low of $83.08 and a 1-year high of $131.81.

Fomento Economico Mexicano (NYSE:FMX) last announced its quarterly earnings data on Tuesday, March 31st. The company reported $2.43 EPS for the quarter. Fomento Economico Mexicano had a net margin of 3.40% and a return on equity of 7.33%. The company had revenue of $11.61 billion during the quarter. On average, sell-side analysts expect that Fomento Economico Mexicano S.A.B. de C.V. will post 6.19 EPS for the current year.

Fomento Economico Mexicano Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, May 4th. Stockholders of record on Wednesday, April 22nd were paid a dividend of $0.6658 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date was Wednesday, April 22nd. Fomento Economico Mexicano’s payout ratio is 53.47%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on FMX shares. Weiss Ratings raised shares of Fomento Economico Mexicano from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 11th. JPMorgan Chase & Co. raised their price target on Fomento Economico Mexicano from $117.00 to $126.00 and gave the stock an “overweight” rating in a report on Friday, June 26th. UBS Group boosted their price target on Fomento Economico Mexicano from $122.00 to $139.00 and gave the company a “buy” rating in a research report on Thursday, May 28th. Barclays upped their price objective on Fomento Economico Mexicano from $118.00 to $125.00 and gave the company an “equal weight” rating in a research note on Monday, May 4th. Finally, Zacks Research raised Fomento Economico Mexicano from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $118.67.

About Fomento Economico Mexicano

Fomento Económico Mexicano, SAB. de C.V. (FEMSA) is a Mexican multinational company active primarily in the retail and beverage sectors. Headquartered in Monterrey, Mexico, FEMSA’s operations span convenience store retailing, beverage bottling and distribution, and related logistics and consumer services. The company’s business model combines high-frequency retail outlets with large-scale beverage production and a regional supply chain network.

FEMSA Comercio, the company’s retail arm, operates a large chain of convenience stores under the OXXO brand and has expanded its retail footprint with complementary formats and services.