Quantbot Technologies LP Takes Position in Fomento Economico Mexicano S.A.B. de C.V. $FMX

Quantbot Technologies LP purchased a new position in Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) during the 3rd quarter, HoldingsChannel.com reports. The fund purchased 27,345 shares of the company’s stock, valued at approximately $2,697,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of FMX. AQR Capital Management LLC increased its holdings in Fomento Economico Mexicano by 19.0% during the 1st quarter. AQR Capital Management LLC now owns 6,072 shares of the company’s stock worth $593,000 after purchasing an additional 969 shares during the last quarter. Y Intercept Hong Kong Ltd grew its position in shares of Fomento Economico Mexicano by 158.3% during the second quarter. Y Intercept Hong Kong Ltd now owns 7,863 shares of the company’s stock worth $810,000 after buying an additional 4,819 shares in the last quarter. Hantz Financial Services Inc. increased its stake in shares of Fomento Economico Mexicano by 1,303.1% in the second quarter. Hantz Financial Services Inc. now owns 912 shares of the company’s stock worth $94,000 after buying an additional 847 shares during the last quarter. Assetmark Inc. raised its holdings in Fomento Economico Mexicano by 98.1% in the second quarter. Assetmark Inc. now owns 11,300 shares of the company’s stock valued at $1,164,000 after acquiring an additional 5,596 shares in the last quarter. Finally, Atria Investments Inc boosted its stake in Fomento Economico Mexicano by 5.7% during the 2nd quarter. Atria Investments Inc now owns 14,011 shares of the company’s stock valued at $1,443,000 after acquiring an additional 753 shares during the last quarter. Hedge funds and other institutional investors own 61.00% of the company’s stock.

Fomento Economico Mexicano Price Performance

NYSE FMX opened at $109.50 on Wednesday. The company has a quick ratio of 1.02, a current ratio of 1.35 and a debt-to-equity ratio of 0.39. Fomento Economico Mexicano S.A.B. de C.V. has a one year low of $83.08 and a one year high of $116.09. The company has a 50-day simple moving average of $106.92 and a 200-day simple moving average of $98.87.

Fomento Economico Mexicano (NYSE:FMX) last issued its earnings results on Wednesday, February 25th. The company reported $0.92 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.50 by ($0.58). Fomento Economico Mexicano had a return on equity of 6.11% and a net margin of 2.29%.The business had revenue of $12.21 billion during the quarter, compared to the consensus estimate of $11.98 billion. Equities analysts forecast that Fomento Economico Mexicano S.A.B. de C.V. will post 5.32 earnings per share for the current year.

Fomento Economico Mexicano Increases Dividend

The business also recently declared 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 a positive change from Fomento Economico Mexicano’s previous quarterly dividend of $2.00. The ex-dividend date of this dividend was Friday, January 16th. This represents a $8.21 annualized dividend and a dividend yield of 7.5%. Fomento Economico Mexicano’s dividend payout ratio (DPR) is 80.00%.

Analysts Set New Price Targets

FMX has been the subject of several research analyst reports. Barclays boosted their target price 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. The Goldman Sachs Group lifted their price target on Fomento Economico Mexicano from $113.00 to $128.00 and gave the stock a “buy” rating in a research note on Wednesday, February 11th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Fomento Economico Mexicano in a research note on Thursday, January 22nd. Four research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, Fomento Economico Mexicano presently has a consensus rating of “Hold” and a consensus target price of $108.83.

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.