Lbp Am Sa Acquires 93,997 Shares of Fomento Economico Mexicano S.A.B. de C.V. $FMX

Lbp Am Sa boosted its holdings in Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) by 22.1% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 518,532 shares of the company’s stock after purchasing an additional 93,997 shares during the quarter. Fomento Economico Mexicano accounts for about 0.6% of Lbp Am Sa’s portfolio, making the stock its 29th largest holding. Lbp Am Sa owned approximately 0.14% of Fomento Economico Mexicano worth $51,143,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Fomento Economico Mexicano by 2,006.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 337 shares of the company’s stock worth $35,000 after purchasing an additional 321 shares during the period. Farther Finance Advisors LLC boosted its stake in shares of Fomento Economico Mexicano by 41.4% in the second 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. Steward Partners Investment Advisory LLC acquired a new stake in Fomento Economico Mexicano during the second quarter worth approximately $40,000. Tower Research Capital LLC TRC increased its stake in Fomento Economico Mexicano by 42.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 439 shares of the company’s stock worth $45,000 after acquiring an additional 131 shares during the period. Finally, Mather Group LLC. acquired a new position in Fomento Economico Mexicano in the 3rd quarter valued at $54,000. Institutional investors own 61.00% of the company’s stock.

Wall Street Analyst Weigh In

FMX has been the subject of a number of recent analyst reports. Weiss Ratings reiterated a “hold (c-)” rating on shares of Fomento Economico Mexicano in a research report on Thursday. Zacks Research raised shares of Fomento Economico Mexicano from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 28th. JPMorgan Chase & Co. increased their price objective 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, Barclays decreased 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. Four research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $101.63.

Fomento Economico Mexicano Price Performance

Shares of FMX stock opened at $106.80 on Monday. The business has a fifty day simple moving average of $100.61 and a 200 day simple moving average of $95.53. The company has a market cap of $38.27 billion, a P/E ratio of 43.07, a P/E/G ratio of 4.08 and a beta of 0.46. The company has a quick ratio of 0.90, a current ratio of 1.10 and a debt-to-equity ratio of 0.50. Fomento Economico Mexicano S.A.B. de C.V. has a twelve month low of $82.50 and a twelve month high of $108.74.

Fomento Economico Mexicano (NYSE:FMX) last issued its earnings results on Tuesday, October 28th. The company reported $0.88 EPS for the quarter, missing the consensus estimate of $1.06 by ($0.18). The business had revenue of $11.72 billion for the quarter, compared to analyst estimates of $215.60 billion. Fomento Economico Mexicano had a return on equity of 5.01% and a net margin of 2.09%. On average, sell-side analysts forecast 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 business also recently disclosed a quarterly dividend, which will be paid on Monday, January 26th. Investors of record on Friday, January 16th will be paid a $2.0531 dividend. This represents a $8.21 annualized dividend and a yield of 7.7%. The ex-dividend date of this dividend is Friday, January 16th. This is a positive change from Fomento Economico Mexicano’s previous quarterly dividend of $2.00. Fomento Economico Mexicano’s payout ratio is currently 91.94%.

Fomento Economico Mexicano Profile

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.