Royal Bank of Canada Has $690.65 Million Stake in Fomento Economico Mexicano S.A.B. de C.V. $FMX

Royal Bank of Canada increased its position in shares of Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) by 3.2% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,218,709 shares of the company’s stock after acquiring an additional 193,432 shares during the period. Royal Bank of Canada owned about 1.80% of Fomento Economico Mexicano worth $690,649,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of FMX. V Square Quantitative Management LLC bought a new stake in Fomento Economico Mexicano during the 1st quarter worth approximately $28,000. Northwestern Mutual Wealth Management Co. raised its stake in shares of Fomento Economico Mexicano by 2,006.2% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 337 shares of the company’s stock valued at $35,000 after acquiring an additional 321 shares during the last quarter. Tower Research Capital LLC TRC raised its stake in shares of Fomento Economico Mexicano by 42.5% during the second quarter. Tower Research Capital LLC TRC now owns 439 shares of the company’s stock valued at $45,000 after acquiring an additional 131 shares during the last quarter. Atlas Capital Advisors Inc. bought a new position in Fomento Economico Mexicano during the 4th quarter worth $50,000. Finally, Brown Brothers Harriman & Co. lifted its holdings in Fomento Economico Mexicano by 220.8% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 725 shares of the company’s stock worth $72,000 after buying an additional 499 shares during the period. Institutional investors and hedge funds own 61.00% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on FMX shares. JPMorgan Chase & Co. lifted their price objective on shares of Fomento Economico Mexicano from $117.00 to $126.00 and gave the company an “overweight” rating in a research note on Friday, June 26th. Barclays lifted their price target on shares of 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 shares of Fomento Economico Mexicano from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 30th. Weiss Ratings raised shares of Fomento Economico Mexicano from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Finally, Wall Street Zen cut shares of Fomento Economico Mexicano from a “buy” rating to a “hold” rating in a research report on Saturday, July 18th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $119.50.

Fomento Economico Mexicano Stock Performance

Shares of Fomento Economico Mexicano stock opened at $127.29 on Wednesday. The business’s fifty day simple moving average is $126.12 and its 200 day simple moving average is $116.61. The company has a current ratio of 1.16, a quick ratio of 0.87 and a debt-to-equity ratio of 0.47. 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. The firm has a market capitalization of $43.98 billion, a P/E ratio of 28.48, a price-to-earnings-growth ratio of 0.71 and a beta of 0.41.

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

Fomento Economico Mexicano Increases Dividend

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

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.