Fomento Economico Mexicano S.A.B. de C.V. $FMX Position Boosted by Victory Capital Management Inc.

Victory Capital Management Inc. increased its holdings in Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) by 12,960.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 599,982 shares of the company’s stock after purchasing an additional 595,388 shares during the quarter. Victory Capital Management Inc. owned 0.17% of Fomento Economico Mexicano worth $59,176,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. AQR Capital Management LLC grew its holdings in shares of Fomento Economico Mexicano by 19.0% during 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. Savant Capital LLC acquired a new stake in Fomento Economico Mexicano during the 2nd quarter worth about $293,000. Vestmark Advisory Solutions Inc. acquired a new stake in Fomento Economico Mexicano during the 2nd quarter worth about $486,000. Connor Clark & Lunn Investment Management Ltd. grew its stake in Fomento Economico Mexicano by 10.4% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 114,372 shares of the company’s stock valued at $11,778,000 after acquiring an additional 10,751 shares in the last quarter. Finally, Acadian Asset Management LLC grew its stake in Fomento Economico Mexicano by 43.6% during the 2nd quarter. Acadian Asset Management LLC now owns 550,894 shares of the company’s stock valued at $56,716,000 after acquiring an additional 167,250 shares in the last quarter. 61.00% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

FMX has been the subject of a number of research analyst reports. Barclays increased their price target on shares of Fomento Economico Mexicano from $116.00 to $118.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Weiss Ratings reiterated a “hold (c-)” rating on shares of Fomento Economico Mexicano in a research note on Thursday, January 22nd. Finally, The Goldman Sachs Group lifted their target price on shares of Fomento Economico Mexicano from $113.00 to $128.00 and gave the company a “buy” rating in a research note on Wednesday, February 11th. Four research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $108.83.

Fomento Economico Mexicano Stock Up 0.6%

NYSE FMX opened at $109.55 on Friday. Fomento Economico Mexicano S.A.B. de C.V. has a twelve month low of $83.08 and a twelve month high of $116.09. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.02 and a current ratio of 1.35. The firm has a 50-day simple moving average of $107.34 and a 200 day simple moving average of $99.20. The stock has a market cap of $37.85 billion, a PE ratio of 38.44, a PEG ratio of 4.22 and a beta of 0.42.

Fomento Economico Mexicano (NYSE:FMX) last announced its quarterly earnings results on Wednesday, February 25th. The company reported $0.92 earnings per share for the quarter, missing analysts’ consensus estimates of $1.50 by ($0.58). The company had revenue of $12.21 billion during the quarter, compared to the consensus estimate of $11.98 billion. Fomento Economico Mexicano had a net margin of 2.29% and a return on equity of 6.11%. On average, research analysts forecast 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 disclosed a quarterly dividend, which was paid on Monday, January 26th. Investors of record on Friday, January 16th were issued a $2.0531 dividend. This is an increase from Fomento Economico Mexicano’s previous quarterly dividend of $2.00. This represents a $8.21 annualized dividend and a yield of 7.5%. The ex-dividend date was Friday, January 16th. Fomento Economico Mexicano’s dividend payout ratio (DPR) is currently 80.00%.

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.