Fomento Economico Mexicano S.A.B. de C.V. $FMX Shares Purchased by Citigroup Inc.

Citigroup Inc. increased its stake in shares of Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) by 309.6% in the second quarter, HoldingsChannel.com reports. The firm owned 1,714,895 shares of the company’s stock after buying an additional 1,296,194 shares during the period. Citigroup Inc.’s holdings in Fomento Economico Mexicano were worth $176,600,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd acquired a new position in Fomento Economico Mexicano during the first quarter worth $29,000. Farther Finance Advisors LLC raised its holdings in shares of Fomento Economico Mexicano by 41.4% in the 2nd quarter. Farther Finance Advisors LLC now owns 369 shares of the company’s stock valued at $38,000 after buying an additional 108 shares during the period. Banque Cantonale Vaudoise acquired a new position in Fomento Economico Mexicano during the 1st quarter worth about $51,000. Brooklyn Investment Group boosted its holdings in Fomento Economico Mexicano by 112.4% during the 1st quarter. Brooklyn Investment Group now owns 722 shares of the company’s stock valued at $70,000 after acquiring an additional 382 shares during the period. Finally, Smartleaf Asset Management LLC boosted its holdings in Fomento Economico Mexicano by 69.2% during the 1st quarter. Smartleaf Asset Management LLC now owns 785 shares of the company’s stock valued at $79,000 after acquiring an additional 321 shares during the period. Hedge funds and other institutional investors own 61.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on FMX shares. UBS Group upgraded shares of Fomento Economico Mexicano from a “neutral” rating to a “buy” rating and cut their price target for the stock from $115.00 to $111.00 in a research note on Friday, September 19th. Morgan Stanley reaffirmed an “equal weight” rating and set a $97.00 target price (down from $132.00) on shares of Fomento Economico Mexicano in a research note on Tuesday, August 19th. Barclays reduced their target price on shares of Fomento Economico Mexicano from $107.00 to $105.00 and set an “equal weight” rating on the stock in a report on Monday, November 3rd. JPMorgan Chase & Co. boosted their price target on shares of Fomento Economico Mexicano from $96.00 to $102.00 and gave the stock a “neutral” rating in a research note on Monday, October 20th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Fomento Economico Mexicano in a research report on Wednesday, October 8th. Four research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, Fomento Economico Mexicano presently has an average rating of “Hold” and a consensus target price of $101.63.

Fomento Economico Mexicano Price Performance

Fomento Economico Mexicano stock opened at $93.24 on Tuesday. The company has a current ratio of 1.10, a quick ratio of 1.06 and a debt-to-equity ratio of 0.50. The company has a fifty day simple moving average of $94.66 and a 200-day simple moving average of $96.71. The stock has a market cap of $33.36 billion, a P/E ratio of 37.60, a price-to-earnings-growth ratio of 5.54 and a beta of 0.70. Fomento Economico Mexicano S.A.B. de C.V. has a 12-month low of $81.07 and a 12-month high of $108.74.

Fomento Economico Mexicano (NYSE:FMX) last posted its quarterly earnings results on Tuesday, October 28th. The company reported $0.88 earnings per share for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.18). The business had revenue of $11.71 billion during the quarter, compared to analyst estimates of $215.60 billion. Fomento Economico Mexicano had a net margin of 2.09% and a return on equity of 5.01%. Equities analysts expect that Fomento Economico Mexicano S.A.B. de C.V. will post 5.32 EPS for the current fiscal year.

Fomento Economico Mexicano Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, October 27th. Investors of record on Thursday, October 16th were paid a dividend of $1.9982 per share. The ex-dividend date was Thursday, October 16th. This is a positive change from Fomento Economico Mexicano’s previous quarterly dividend of $1.36. This represents a $7.99 annualized dividend and a yield of 8.6%. Fomento Economico Mexicano’s dividend payout ratio (DPR) is presently 89.92%.

Fomento Economico Mexicano Profile

Fomento Económico Mexicano, SAB. de C.V., through its subsidiaries, operates as a bottler of Coca-Cola trademark beverages. The company produces, markets, and distributes Coca-Cola trademark beverages in Mexico, Guatemala, Nicaragua, Costa Rica, Panama, Colombia, Venezuela, Brazil, Argentina, and Uruguay.