Lbp Am Sa Has $51.14 Million Stake in Fomento Economico Mexicano S.A.B. de C.V. $FMX

Lbp Am Sa boosted its position in Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) by 22.1% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 518,532 shares of the company’s stock after purchasing an additional 93,997 shares during the period. Fomento Economico Mexicano accounts for about 0.6% of Lbp Am Sa’s portfolio, making the stock its 29th biggest holding. Lbp Am Sa’s holdings in Fomento Economico Mexicano were worth $51,143,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Fomento Economico Mexicano by 2,006.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 337 shares of the company’s stock valued at $35,000 after purchasing an additional 321 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in Fomento Economico Mexicano by 41.4% in the 2nd quarter. Farther Finance Advisors LLC now owns 369 shares of the company’s stock valued at $38,000 after buying an additional 108 shares during the last quarter. Steward Partners Investment Advisory LLC acquired a new stake in Fomento Economico Mexicano during the 2nd quarter worth approximately $40,000. Tower Research Capital LLC TRC boosted its position in Fomento Economico Mexicano by 42.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 439 shares of the company’s stock worth $45,000 after buying an additional 131 shares during the period. Finally, Mather Group LLC. bought a new stake in Fomento Economico Mexicano during the 3rd quarter worth approximately $54,000. 61.00% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

FMX has been the subject of several analyst reports. JPMorgan Chase & Co. raised their price target on shares of Fomento Economico Mexicano from $96.00 to $102.00 and gave the company a “neutral” rating in a research note on Monday, October 20th. Zacks Research upgraded Fomento Economico Mexicano from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 28th. Barclays cut 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. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Fomento Economico Mexicano in a research note on Thursday. Four equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $101.63.

Fomento Economico Mexicano Price Performance

Shares of NYSE FMX opened at $106.80 on Monday. The company has a market capitalization of $38.27 billion, a PE ratio of 43.07, a P/E/G ratio of 4.08 and a beta of 0.46. The company has a quick ratio of 0.90, a current ratio of 1.10 and a debt-to-equity ratio of 0.50. Fomento Economico Mexicano S.A.B. de C.V. has a twelve month low of $82.50 and a twelve month high of $108.74. The firm has a fifty day simple moving average of $100.61 and a 200 day simple moving average of $95.53.

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 return on equity of 5.01% and a net margin of 2.09%. On average, sell-side analysts forecast that Fomento Economico Mexicano S.A.B. de C.V. will post 5.32 EPS for the current year.

Fomento Economico Mexicano Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, January 26th. Stockholders of record on Friday, January 16th will be paid a $2.0531 dividend. The ex-dividend date is Friday, January 16th. This represents a $8.21 annualized dividend and a dividend yield of 7.7%. This is a boost from Fomento Economico Mexicano’s previous quarterly dividend of $2.00. Fomento Economico Mexicano’s dividend payout ratio (DPR) is 91.94%.

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.