Fomento Economico Mexicano S.A.B. de C.V. $FMX Stock Purchased by Ninety One UK Ltd

Ninety One UK Ltd raised its holdings in Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) by 75.2% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 844,817 shares of the company’s stock after purchasing an additional 362,738 shares during the quarter. Ninety One UK Ltd owned approximately 0.24% of Fomento Economico Mexicano worth $100,162,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Royal Bank of Canada increased its stake in shares of Fomento Economico Mexicano by 3.2% in the first quarter. Royal Bank of Canada now owns 6,218,709 shares of the company’s stock valued at $690,649,000 after buying an additional 193,432 shares in the last quarter. Amundi raised its holdings in shares of Fomento Economico Mexicano by 9.8% in the first quarter. Amundi now owns 613,753 shares of the company’s stock valued at $68,163,000 after buying an additional 54,786 shares during the last quarter. USS Investment Management Ltd raised its holdings in shares of Fomento Economico Mexicano by 44.9% in the first quarter. USS Investment Management Ltd now owns 462,624 shares of the company’s stock valued at $51,386,000 after buying an additional 143,430 shares during the last quarter. Sei Investments Co. raised its holdings in shares of Fomento Economico Mexicano by 13.1% in the first quarter. Sei Investments Co. now owns 236,168 shares of the company’s stock valued at $26,229,000 after buying an additional 27,439 shares during the last quarter. Finally, Cook & Bynum Capital Management LLC acquired a new position in Fomento Economico Mexicano during the 2nd quarter worth about $29,857,616. Institutional investors own 61.00% of the company’s stock.

Fomento Economico Mexicano Trading Up 1.1%

FMX stock traded up $1.30 during midday trading on Thursday, reaching $121.98. The company’s stock had a trading volume of 196,277 shares, compared to its average volume of 458,921. The business’s 50-day simple moving average is $119.46 and its 200-day simple moving average is $121.37. The company has a quick ratio of 0.85, a current ratio of 1.14 and a debt-to-equity ratio of 0.41. Fomento Economico Mexicano S.A.B. de C.V. has a 52 week low of $90.87 and a 52 week high of $141.47. The stock has a market cap of $42.15 billion, a PE ratio of 24.40, a price-to-earnings-growth ratio of 0.65 and a beta of 0.41.

Fomento Economico Mexicano (NYSE:FMX) last issued its earnings results on Tuesday, June 30th. The company reported $0.93 EPS for the quarter. The company had revenue of $13.20 billion during the quarter. Fomento Economico Mexicano had a net margin of 3.60% and a return on equity of 7.24%. As a group, sell-side analysts expect that Fomento Economico Mexicano S.A.B. de C.V. will post 6.35 EPS for the current year.

Fomento Economico Mexicano Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, October 26th. Stockholders of record on Wednesday, October 14th will be given a $1.7804 dividend. The ex-dividend date is Wednesday, October 14th. This represents a $7.12 annualized dividend and a dividend yield of 5.8%. This is a decrease from Fomento Economico Mexicano’s previous quarterly dividend of $1.8270. Fomento Economico Mexicano’s dividend payout ratio is 48.60%.

Insider Activity at Fomento Economico Mexicano

In related news, Director Michael David Kahn acquired 2,100 shares of the firm’s stock in a transaction that occurred on Tuesday, August 11th. The stock was acquired at an average cost of $118.13 per share, with a total value of $248,073.00. Following the completion of the purchase, the director directly owned 2,100 shares in the company, valued at approximately $248,073. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 5.68% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. JPMorgan Chase & Co. increased their price objective on shares of Fomento Economico Mexicano from $117.00 to $126.00 and gave the stock an “overweight” rating in a report on Friday, June 26th. Bank of America upgraded shares of Fomento Economico Mexicano from a “neutral” rating to a “buy” rating and raised their price objective for the company from $125.00 to $150.00 in a research report on Tuesday, August 4th. Barclays boosted their target price on shares of Fomento Economico Mexicano from $125.00 to $130.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 14th. Wall Street Zen lowered shares of Fomento Economico Mexicano from a “buy” rating to a “hold” rating in a research report on Saturday, July 18th. Finally, Zacks Research lowered shares of Fomento Economico Mexicano from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 4th. Three analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $135.67.

About Fomento Economico Mexicano

Fomento Económico Mexicano, SAB. de C.V. (FEMSA) is a Mexico-based multinational company with operations in beverage production, retail, and logistics. Through Coca-Cola FEMSA, it produces, distributes, and markets Coca-Cola products and other beverages under a portfolio that includes soft drinks, bottled water, juices, and related products.

Coca-Cola FEMSA serves customers across several Latin American markets, including Mexico, Brazil, Colombia, Guatemala, Costa Rica, Panama, Nicaragua, Argentina, and Venezuela.