Fomento Economico Mexicano S.A.B. de C.V. $FMX Shares Bought by USS Investment Management Ltd

USS Investment Management Ltd raised its holdings in shares of Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) by 44.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 462,624 shares of the company’s stock after buying an additional 143,430 shares during the quarter. USS Investment Management Ltd owned about 0.13% of Fomento Economico Mexicano worth $51,386,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Fundamenta Capital S.A. acquired a new position in shares of Fomento Economico Mexicano during the 4th quarter worth approximately $13,527,000. Victory Capital Management Inc. increased its holdings in shares of Fomento Economico Mexicano by 12,960.1% in the third quarter. Victory Capital Management Inc. now owns 599,982 shares of the company’s stock valued at $59,176,000 after purchasing an additional 595,388 shares during the last quarter. Northcape Capital Pty Ltd lifted its position in Fomento Economico Mexicano by 15.1% during the fourth quarter. Northcape Capital Pty Ltd now owns 448,439 shares of the company’s stock worth $46,279,000 after buying an additional 58,920 shares in the last quarter. INCA Investments LLC boosted its stake in Fomento Economico Mexicano by 6.9% during the fourth quarter. INCA Investments LLC now owns 395,261 shares of the company’s stock worth $39,949,000 after buying an additional 25,536 shares during the last quarter. Finally, Perpetual Ltd boosted its stake in Fomento Economico Mexicano by 100.2% during the fourth quarter. Perpetual Ltd now owns 85,067 shares of the company’s stock worth $8,598,000 after buying an additional 42,580 shares during the last quarter. 61.00% of the stock is currently owned by institutional investors and hedge funds.

Fomento Economico Mexicano Price Performance

NYSE:FMX opened at $127.79 on Wednesday. Fomento Economico Mexicano S.A.B. de C.V. has a 52 week low of $83.08 and a 52 week high of $131.81. The company has a quick ratio of 0.87, a current ratio of 1.16 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $44.16 billion, a P/E ratio of 28.59, a P/E/G ratio of 0.76 and a beta of 0.42. The stock’s fifty day moving average is $121.94 and its two-hundred day moving average is $112.76.

Fomento Economico Mexicano (NYSE:FMX) last announced its quarterly earnings results on Tuesday, March 31st. The company reported $2.43 EPS for the quarter. The business had revenue of $11.61 billion for the quarter. Fomento Economico Mexicano had a return on equity of 7.33% and a net margin of 3.40%. Equities analysts expect that Fomento Economico Mexicano S.A.B. de C.V. will post 5.77 EPS for the current year.

Fomento Economico Mexicano Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, May 4th. Shareholders of record on Wednesday, April 22nd were given a dividend of $0.6658 per share. The ex-dividend date was Wednesday, April 22nd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 2.1%. Fomento Economico Mexicano’s dividend payout ratio (DPR) is currently 53.47%.

Analysts Set New Price Targets

A number of analysts have issued reports on FMX shares. UBS Group raised their target price 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. Barclays boosted their price target on shares of Fomento Economico Mexicano from $118.00 to $125.00 and gave the company an “equal weight” rating in a research report on Monday, May 4th. Weiss Ratings raised shares of Fomento Economico Mexicano from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 11th. Zacks Research upgraded shares of Fomento Economico Mexicano from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 30th. Finally, Wall Street Zen downgraded shares of Fomento Economico Mexicano from a “strong-buy” rating to a “buy” 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 issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $118.67.

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.