Hsbc Holdings PLC Sells 5,245 Shares of Fomento Economico Mexicano S.A.B. de C.V. $FMX

Hsbc Holdings PLC decreased its stake in Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) by 36.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,188 shares of the company’s stock after selling 5,245 shares during the quarter. Hsbc Holdings PLC’s holdings in Fomento Economico Mexicano were worth $1,020,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the stock. Fundamenta Capital S.A. bought a new stake in Fomento Economico Mexicano in the 4th quarter worth $13,527,000. Northcape Capital Pty Ltd raised its stake in shares of Fomento Economico Mexicano by 15.1% during the fourth quarter. Northcape Capital Pty Ltd now owns 448,439 shares of the company’s stock valued at $46,279,000 after acquiring an additional 58,920 shares during the last quarter. INCA Investments LLC boosted its holdings in shares of Fomento Economico Mexicano by 6.9% during the fourth quarter. INCA Investments LLC now owns 395,261 shares of the company’s stock worth $39,949,000 after purchasing an additional 25,536 shares during the period. Perpetual Ltd boosted its holdings in shares of Fomento Economico Mexicano by 100.2% during the fourth quarter. Perpetual Ltd now owns 85,067 shares of the company’s stock worth $8,598,000 after purchasing an additional 42,580 shares during the period. Finally, Assetmark Inc. boosted its holdings in shares of Fomento Economico Mexicano by 61.3% during the fourth quarter. Assetmark Inc. now owns 25,592 shares of the company’s stock worth $2,587,000 after purchasing an additional 9,730 shares during the period. 61.00% of the stock is currently owned by institutional investors.

Fomento Economico Mexicano Trading Down 3.7%

Shares of NYSE FMX opened at $127.29 on Wednesday. The firm’s 50 day moving average price is $126.12 and its 200-day moving average price is $116.61. Fomento Economico Mexicano S.A.B. de C.V. has a 52-week low of $83.08 and a 52-week high of $141.47. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.87 and a current ratio of 1.16. The company has a market cap of $43.98 billion, a PE ratio of 28.48, a P/E/G ratio of 0.71 and a beta of 0.41.

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

Fomento Economico Mexicano Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 27th. Shareholders of record on Wednesday, July 15th were given a $1.827 dividend. The ex-dividend date was Wednesday, July 15th. This is a boost from Fomento Economico Mexicano’s previous quarterly dividend of $0.67. This represents a $7.31 annualized dividend and a yield of 5.7%. Fomento Economico Mexicano’s payout ratio is 54.36%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on FMX shares. 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. Zacks Research raised shares of Fomento Economico Mexicano from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 30th. Barclays raised their price objective on shares of Fomento Economico Mexicano from $125.00 to $130.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 14th. Weiss Ratings raised Fomento Economico Mexicano from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Finally, JPMorgan Chase & Co. lifted their price objective on Fomento Economico Mexicano from $117.00 to $126.00 and gave the company an “overweight” rating in a research report on Friday, June 26th. One 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. Based on data from MarketBeat.com, Fomento Economico Mexicano has a consensus rating of “Moderate Buy” and an average price target of $119.50.

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.