Victory Capital Management Inc. Has $59.18 Million Holdings in Fomento Economico Mexicano S.A.B. de C.V. $FMX

Victory Capital Management Inc. increased its holdings in shares of Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) by 12,960.1% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 599,982 shares of the company’s stock after acquiring an additional 595,388 shares during the period. Victory Capital Management Inc.’s holdings in Fomento Economico Mexicano were worth $59,176,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC boosted its stake in shares of 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 last quarter. Smartleaf Asset Management LLC grew its holdings in shares of Fomento Economico Mexicano by 16.0% in the 3rd quarter. Smartleaf Asset Management LLC now owns 1,357 shares of the company’s stock valued at $135,000 after acquiring an additional 187 shares in the last quarter. One Wealth Advisors LLC increased its position in shares of Fomento Economico Mexicano by 3.1% in the third quarter. One Wealth Advisors LLC now owns 7,033 shares of the company’s stock valued at $694,000 after acquiring an additional 209 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in 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 worth $35,000 after acquiring an additional 321 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in Fomento Economico Mexicano by 11.7% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,365 shares of the company’s stock worth $332,000 after acquiring an additional 352 shares in the last quarter. 61.00% of the stock is currently owned by institutional investors and hedge funds.

Fomento Economico Mexicano Stock Up 0.6%

Shares of NYSE:FMX opened at $109.55 on Friday. The business’s 50 day moving average is $107.34 and its 200 day moving average is $99.20. Fomento Economico Mexicano S.A.B. de C.V. has a 12-month low of $83.08 and a 12-month high of $116.09. The stock has a market cap of $37.85 billion, a price-to-earnings ratio of 38.44, a PEG ratio of 4.22 and a beta of 0.42. The company has a quick ratio of 1.02, a current ratio of 1.35 and a debt-to-equity ratio of 0.39.

Fomento Economico Mexicano (NYSE:FMX) last posted its earnings results on Wednesday, February 25th. The company reported $0.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.50 by ($0.58). The firm had revenue of $12.21 billion during the quarter, compared to the consensus estimate of $11.98 billion. Fomento Economico Mexicano had a return on equity of 6.11% and a net margin of 2.29%. On average, 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 company also recently disclosed a quarterly dividend, which was paid on Monday, January 26th. Investors of record on Friday, January 16th were paid a $2.0531 dividend. The ex-dividend date was Friday, January 16th. This represents a $8.21 dividend on an annualized basis and a yield of 7.5%. This is an increase from Fomento Economico Mexicano’s previous quarterly dividend of $2.00. Fomento Economico Mexicano’s dividend payout ratio (DPR) is presently 80.00%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on FMX shares. Barclays raised their price target on Fomento Economico Mexicano from $116.00 to $118.00 and gave the company an “equal weight” rating in a research note on Tuesday. Weiss Ratings reissued a “hold (c-)” rating on shares of Fomento Economico Mexicano in a research note on Thursday, January 22nd. Finally, The Goldman Sachs Group boosted their price objective on shares of Fomento Economico Mexicano from $113.00 to $128.00 and gave the stock a “buy” rating in a research note on Wednesday, February 11th. Four equities research 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, the company presently has an average rating of “Hold” and an average target price of $108.83.

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.