2,845 Shares in Fomento Economico Mexicano S.A.B. de C.V. $FMX Bought by Savant Capital LLC

Savant Capital LLC bought a new stake in Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,845 shares of the company’s stock, valued at approximately $293,000.

Several other hedge funds have also recently added to or reduced their stakes in FMX. Nuveen LLC purchased a new position in shares of Fomento Economico Mexicano in the 1st quarter worth about $330,437,000. Itau Unibanco Holding S.A. lifted its position in Fomento Economico Mexicano by 105.4% in the 1st quarter. Itau Unibanco Holding S.A. now owns 1,112,036 shares of the company’s stock worth $106,139,000 after buying an additional 570,640 shares during the last quarter. Strs Ohio purchased a new stake in Fomento Economico Mexicano in the first quarter worth approximately $28,718,000. Acadian Asset Management LLC grew its position in Fomento Economico Mexicano by 325.7% during the first quarter. Acadian Asset Management LLC now owns 383,644 shares of the company’s stock valued at $37,421,000 after acquiring an additional 293,524 shares during the last quarter. Finally, INCA Investments LLC raised its stake in shares of Fomento Economico Mexicano by 106.1% during the second quarter. INCA Investments LLC now owns 274,769 shares of the company’s stock worth $28,296,000 after acquiring an additional 141,419 shares in the last quarter. Institutional investors own 61.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. UBS Group raised shares of Fomento Economico Mexicano from a “neutral” rating to a “buy” rating and cut their price objective for the company from $115.00 to $111.00 in a research note on Friday, September 19th. Citigroup upgraded shares of Fomento Economico Mexicano from a “neutral” rating to a “buy” rating and upped their price target for the company from $93.00 to $97.00 in a research report on Tuesday, September 9th. Zacks Research raised Fomento Economico Mexicano from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 28th. Barclays lowered their target price on Fomento Economico Mexicano from $107.00 to $105.00 and set an “equal weight” rating for the company in a research note on Monday, November 3rd. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Fomento Economico Mexicano in a research report on Wednesday, October 8th. Four equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, Fomento Economico Mexicano has an average rating of “Hold” and an average target price of $101.63.

Fomento Economico Mexicano Stock Performance

Shares of NYSE:FMX opened at $94.27 on Wednesday. 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 50-day moving average price of $94.80 and a 200-day moving average price of $96.66. The company has a market cap of $33.73 billion, a price-to-earnings ratio of 38.01, 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 announced its quarterly earnings results on Tuesday, October 28th. The company reported $0.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.18). Fomento Economico Mexicano had a net margin of 2.09% and a return on equity of 5.01%. The business had revenue of $11.71 billion for the quarter, compared to analysts’ expectations of $215.60 billion. As a group, equities analysts anticipate that Fomento Economico Mexicano S.A.B. de C.V. will post 5.32 EPS for the current 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 issued a dividend of $1.9982 per share. This is a boost from Fomento Economico Mexicano’s previous quarterly dividend of $1.36. This represents a $7.99 dividend on an annualized basis and a dividend yield of 8.5%. The ex-dividend date was Thursday, October 16th. Fomento Economico Mexicano’s dividend payout ratio is currently 89.92%.

About Fomento Economico Mexicano

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.