Hsbc Holdings PLC Cuts Stock Holdings in Fomento Economico Mexicano S.A.B. de C.V. $FMX

Hsbc Holdings PLC trimmed its position in Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) by 36.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,188 shares of the company’s stock after selling 5,245 shares during the quarter. Hsbc Holdings PLC’s holdings in Fomento Economico Mexicano were worth $1,020,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Stephens Inc. AR increased its position in shares of Fomento Economico Mexicano by 5.1% during the 1st quarter. Stephens Inc. AR now owns 7,229 shares of the company’s stock valued at $803,000 after purchasing an additional 353 shares during the last quarter. V Square Quantitative Management LLC bought a new stake in Fomento Economico Mexicano in the first quarter worth $28,000. QRG Capital Management Inc. bought a new stake in Fomento Economico Mexicano in the first quarter worth $213,000. HB Wealth Management LLC boosted its stake in Fomento Economico Mexicano by 5.8% during the first quarter. HB Wealth Management LLC now owns 2,491 shares of the company’s stock worth $277,000 after buying an additional 136 shares during the period. Finally, Y Intercept Hong Kong Ltd boosted its stake in Fomento Economico Mexicano by 61.3% during the first quarter. Y Intercept Hong Kong Ltd now owns 26,963 shares of the company’s stock worth $2,995,000 after buying an additional 10,242 shares during the period. 61.00% of the stock is currently owned by hedge funds and other institutional investors.

Fomento Economico Mexicano Stock Down 3.7%

Shares of NYSE FMX opened at $127.29 on Wednesday. The company has a current ratio of 1.16, a quick ratio of 0.87 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $43.98 billion, a PE ratio of 28.48, a price-to-earnings-growth ratio of 0.71 and a beta of 0.41. The stock’s fifty day simple moving average is $126.12 and its two-hundred day simple moving average is $116.61. Fomento Economico Mexicano S.A.B. de C.V. has a 12-month low of $83.08 and a 12-month high of $141.47.

Fomento Economico Mexicano (NYSE:FMX) last released its quarterly earnings results on Tuesday, June 30th. The company reported $0.93 earnings per share for the quarter. The business had revenue of $13.20 billion for the quarter. Fomento Economico Mexicano had a net margin of 3.40% and a return on equity of 7.33%. As a group, analysts expect that Fomento Economico Mexicano S.A.B. de C.V. will post 6.19 EPS for the current fiscal year.

Fomento Economico Mexicano Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 27th. Stockholders of record on Wednesday, July 15th were paid a $1.827 dividend. The ex-dividend date was Wednesday, July 15th. This is a positive change from Fomento Economico Mexicano’s previous quarterly dividend of $0.67. This represents a $7.31 annualized dividend and a dividend yield of 5.7%. Fomento Economico Mexicano’s dividend payout ratio (DPR) is 54.36%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. JPMorgan Chase & Co. raised their price objective on shares of Fomento Economico Mexicano from $117.00 to $126.00 and gave the stock an “overweight” rating in a research note on Friday, June 26th. Barclays upped their target price on Fomento Economico Mexicano from $125.00 to $130.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 14th. Zacks Research upgraded Fomento Economico Mexicano from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 30th. UBS Group raised their price target on Fomento Economico Mexicano from $122.00 to $139.00 and gave the stock a “buy” rating in a research note on Thursday, May 28th. Finally, Wall Street Zen cut Fomento Economico Mexicano from a “buy” rating to a “hold” rating in a report on Saturday, July 18th. 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.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $119.50.

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.