Fomento Economico Mexicano S.A.B. de C.V. $FMX Shares Sold by Gamco Investors INC. ET AL

Gamco Investors INC. ET AL lessened its position in shares of Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) by 8.3% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 75,440 shares of the company’s stock after selling 6,792 shares during the quarter. Gamco Investors INC. ET AL’s holdings in Fomento Economico Mexicano were worth $8,378,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. AQR Capital Management LLC increased its holdings in Fomento Economico Mexicano by 19.0% in the 1st quarter. AQR Capital Management LLC now owns 6,072 shares of the company’s stock valued at $593,000 after purchasing an additional 969 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in shares of Fomento Economico Mexicano by 2,006.2% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 337 shares of the company’s stock worth $35,000 after buying an additional 321 shares during the period. New York State Common Retirement Fund acquired a new stake in shares of Fomento Economico Mexicano in the second quarter valued at $429,000. EverSource Wealth Advisors LLC raised its holdings in shares of Fomento Economico Mexicano by 61.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,156 shares of the company’s stock valued at $119,000 after buying an additional 438 shares during the period. Finally, Jump Financial LLC purchased a new stake in shares of Fomento Economico Mexicano in the 2nd quarter valued at $504,000. 61.00% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on FMX shares. Zacks Research raised Fomento Economico Mexicano from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 30th. Wall Street Zen cut shares of Fomento Economico Mexicano from a “buy” rating to a “hold” rating in a research report on Saturday, July 18th. JPMorgan Chase & Co. raised their price objective on shares of Fomento Economico Mexicano from $117.00 to $126.00 and gave the company an “overweight” rating in a research note on Friday, June 26th. Barclays lifted their price objective on shares of Fomento Economico Mexicano from $125.00 to $130.00 and gave the company an “equal weight” rating in a report on Tuesday, July 14th. Finally, Weiss Ratings raised shares of Fomento Economico Mexicano from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, Fomento Economico Mexicano currently has an average rating of “Moderate Buy” and an average price target of $119.50.

Fomento Economico Mexicano Stock Performance

Shares of FMX opened at $126.97 on Monday. Fomento Economico Mexicano S.A.B. de C.V. has a 1 year low of $83.08 and a 1 year high of $134.52. The stock has a market capitalization of $43.87 billion, a PE ratio of 28.40, a PEG ratio of 0.69 and a beta of 0.41. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.87 and a current ratio of 1.16. The stock has a 50-day simple moving average of $125.81 and a 200-day simple moving average of $116.20.

Fomento Economico Mexicano (NYSE:FMX) last released its earnings results on Tuesday, March 31st. The company reported $2.43 earnings per share for the quarter. The firm had revenue of $11.61 billion for the quarter. Fomento Economico Mexicano had a net margin of 3.40% and a return on equity of 7.33%. On average, analysts predict that Fomento Economico Mexicano S.A.B. de C.V. will post 6.19 earnings per share for the current fiscal year.

Fomento Economico Mexicano Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 27th. Shareholders of record on Wednesday, July 15th will be given a $1.827 dividend. The ex-dividend date of this dividend is Wednesday, July 15th. This represents a $7.31 dividend on an annualized basis and a dividend yield of 5.8%. This is a boost from Fomento Economico Mexicano’s previous quarterly dividend of $0.67. Fomento Economico Mexicano’s payout ratio is currently 54.36%.

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.