Barings LLC Buys 11,397 Shares of Fomento Economico Mexicano S.A.B. de C.V. $FMX

Barings LLC lifted its stake in Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) by 14.4% in the first quarter, HoldingsChannel reports. The institutional investor owned 90,614 shares of the company’s stock after buying an additional 11,397 shares during the quarter. Barings LLC’s holdings in Fomento Economico Mexicano were worth $10,064,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of FMX. AQR Capital Management LLC boosted its position in Fomento Economico Mexicano by 19.0% in the first quarter. AQR Capital Management LLC now owns 6,072 shares of the company’s stock valued at $593,000 after buying an additional 969 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings 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 worth $35,000 after buying an additional 321 shares in the last quarter. New York State Common Retirement Fund acquired a new stake in shares of Fomento Economico Mexicano during the second quarter worth approximately $429,000. EverSource Wealth Advisors LLC increased its holdings in shares of Fomento Economico Mexicano by 61.0% during the second quarter. EverSource Wealth Advisors LLC now owns 1,156 shares of the company’s stock worth $119,000 after buying an additional 438 shares in the last quarter. Finally, Jump Financial LLC bought a new position in shares of Fomento Economico Mexicano in the second quarter valued at approximately $504,000. Institutional investors own 61.00% of the company’s stock.

Analyst Ratings Changes

FMX has been the topic of several recent analyst reports. Wall Street Zen downgraded Fomento Economico Mexicano from a “strong-buy” rating to a “buy” rating in a report on Monday, May 11th. Zacks Research raised Fomento Economico Mexicano from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 30th. UBS Group lifted their price objective on Fomento Economico Mexicano from $122.00 to $139.00 and gave the company a “buy” rating in a research report on Thursday, May 28th. Barclays boosted their price objective on Fomento Economico Mexicano from $125.00 to $130.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Finally, Weiss Ratings upgraded Fomento Economico Mexicano from a “hold (c-)” rating to a “hold (c)” rating in a report 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 assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Fomento Economico Mexicano presently has an average rating of “Moderate Buy” and a consensus target price of $119.50.

Fomento Economico Mexicano Stock Performance

FMX stock opened at $129.41 on Friday. The company has a 50 day moving average price of $125.04 and a 200 day moving average price of $115.03. Fomento Economico Mexicano S.A.B. de C.V. has a fifty-two week low of $83.08 and a fifty-two week high of $134.52. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.16 and a quick ratio of 0.87. The stock has a market capitalization of $44.72 billion, a PE ratio of 28.95, a price-to-earnings-growth ratio of 0.69 and a beta of 0.41.

Fomento Economico Mexicano (NYSE:FMX) last announced its quarterly earnings data on Tuesday, March 31st. The company reported $2.43 EPS for the quarter. The firm 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%. Analysts forecast 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 declared a quarterly dividend, which will be paid on Monday, July 27th. Investors of record on Wednesday, July 15th will be issued a $1.827 dividend. This is a positive change from Fomento Economico Mexicano’s previous quarterly dividend of $0.67. This represents a $7.31 annualized dividend and a yield of 5.6%. The ex-dividend date is Wednesday, July 15th. Fomento Economico Mexicano’s dividend payout ratio (DPR) is 92.62%.

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.