Thrivent Financial for Lutherans Buys 6,676 Shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Thrivent Financial for Lutherans grew its stake in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) by 84.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,607 shares of the company’s stock after purchasing an additional 6,676 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Fomento Económico Mexicano were worth $1,235,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Colony Group LLC bought a new position in shares of Fomento Económico Mexicano in the second quarter valued at about $211,000. Wells Fargo & Company MN raised its position in shares of Fomento Económico Mexicano by 0.9% in the second quarter. Wells Fargo & Company MN now owns 4,279,540 shares of the company’s stock valued at $361,665,000 after purchasing an additional 37,563 shares during the period. Invesco Ltd. raised its position in shares of Fomento Económico Mexicano by 3.8% in the second quarter. Invesco Ltd. now owns 3,012,010 shares of the company’s stock valued at $254,545,000 after purchasing an additional 111,087 shares during the period. Millennium Management LLC raised its position in shares of Fomento Económico Mexicano by 988.7% in the second quarter. Millennium Management LLC now owns 149,674 shares of the company’s stock valued at $12,649,000 after purchasing an additional 135,926 shares during the period. Finally, Prudential Financial Inc. raised its position in shares of Fomento Económico Mexicano by 7.4% in the second quarter. Prudential Financial Inc. now owns 3,431 shares of the company’s stock valued at $290,000 after purchasing an additional 237 shares during the period. 20.00% of the stock is currently owned by institutional investors.

Several equities analysts have recently weighed in on FMX shares. Morgan Stanley raised shares of Fomento Económico Mexicano from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $90.00 to $92.00 in a research report on Wednesday. The Goldman Sachs Group assumed coverage on shares of Fomento Económico Mexicano in a research note on Friday, August 13th. They issued a “buy” rating and a $106.00 price target on the stock. Zacks Investment Research upgraded shares of Fomento Económico Mexicano from a “hold” rating to a “buy” rating and set a $88.00 price target on the stock in a research note on Monday, October 11th. Finally, Barclays upgraded shares of Fomento Económico Mexicano from an “equal weight” rating to an “overweight” rating and set a $90.00 price target on the stock in a research note on Monday. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Fomento Económico Mexicano presently has an average rating of “Buy” and a consensus target price of $112.50.

Shares of Fomento Económico Mexicano stock opened at $73.82 on Thursday. The company has a market capitalization of $26.41 billion, a price-to-earnings ratio of 25.28, a PEG ratio of 1.61 and a beta of 1.02. The company has a quick ratio of 1.33, a current ratio of 1.69 and a debt-to-equity ratio of 0.55. Fomento Económico Mexicano, S.A.B. de C.V. has a 12-month low of $67.74 and a 12-month high of $89.59. The firm’s 50-day moving average price is $82.86 and its two-hundred day moving average price is $84.07.

Fomento Económico Mexicano (NYSE:FMX) last announced its quarterly earnings data on Thursday, October 28th. The company reported $1.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $1.04. The firm had revenue of $7.12 billion for the quarter, compared to the consensus estimate of $6.79 billion. Fomento Económico Mexicano had a net margin of 3.87% and a return on equity of 6.63%. On average, sell-side analysts expect that Fomento Económico Mexicano, S.A.B. de C.V. will post 3.12 earnings per share for the current year.

The company also recently disclosed a semi-annual dividend, which was paid on Monday, November 15th. Shareholders of record on Thursday, November 4th were paid a dividend of $0.5677 per share. The ex-dividend date was Wednesday, November 3rd. This represents a yield of 1.7%. Fomento Económico Mexicano’s payout ratio is 37.67%.

Fomento Económico Mexicano Profile

Fomento Economico Mexicano SAB de CV operates as a holding company, which engages in the production, distribution, and marketing of beverages. The firm also produces, markets, sells, and distributes Coca-Cola trademark beverages, including sparkling beverages. It operates through the following segments: Coca-Cola FEMSA; FEMSA-Comercio Proximity Division; FEMSA-Comercio Health Division; FEMSA-Comercio Fuel Division; Heineken Investment; and Other Business.

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Institutional Ownership by Quarter for Fomento Económico Mexicano (NYSE:FMX)

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