Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) Shares Bought by UBS Group AG

UBS Group AG grew its stake in shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX – Get Rating) by 55.3% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 88,915 shares of the company’s stock after acquiring an additional 31,663 shares during the period. UBS Group AG’s holdings in Fomento Económico Mexicano were worth $6,946,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of FMX. BlackRock Inc. raised its stake in Fomento Económico Mexicano by 11.0% during the 3rd quarter. BlackRock Inc. now owns 3,056,875 shares of the company’s stock valued at $191,820,000 after purchasing an additional 302,363 shares during the period. Comgest Global Investors S.A.S. increased its stake in shares of Fomento Económico Mexicano by 10.4% in the third quarter. Comgest Global Investors S.A.S. now owns 2,202,050 shares of the company’s stock worth $138,179,000 after acquiring an additional 207,025 shares during the last quarter. Nuveen Asset Management LLC increased its stake in shares of Fomento Económico Mexicano by 20.4% in the third quarter. Nuveen Asset Management LLC now owns 1,734,301 shares of the company’s stock worth $108,827,000 after acquiring an additional 294,235 shares during the last quarter. ANTIPODES PARTNERS Ltd increased its stake in shares of Fomento Económico Mexicano by 25,810.3% in the fourth quarter. ANTIPODES PARTNERS Ltd now owns 1,001,691 shares of the company’s stock worth $78,252,000 after acquiring an additional 997,825 shares during the last quarter. Finally, Renaissance Technologies LLC increased its stake in shares of Fomento Económico Mexicano by 4.9% in the first quarter. Renaissance Technologies LLC now owns 820,400 shares of the company’s stock worth $67,970,000 after acquiring an additional 38,200 shares during the last quarter. Institutional investors and hedge funds own 21.07% of the company’s stock.

Fomento Económico Mexicano Stock Performance

NYSE FMX opened at $97.93 on Friday. The company has a current ratio of 1.77, a quick ratio of 1.45 and a debt-to-equity ratio of 0.38. The firm has a 50-day simple moving average of $95.32 and a 200 day simple moving average of $87.30. Fomento Económico Mexicano, S.A.B. de C.V. has a twelve month low of $58.73 and a twelve month high of $102.50.

Fomento Económico Mexicano (NYSE:FMX – Get Rating) last released its earnings results on Friday, February 24th. The company reported $0.69 earnings per share for the quarter, missing the consensus estimate of $1.28 by ($0.59). Fomento Económico Mexicano had a net margin of 10.38% and a return on equity of 10.53%. The company had revenue of $9.48 billion during the quarter, compared to the consensus estimate of $9.07 billion. As a group, research analysts forecast that Fomento Económico Mexicano, S.A.B. de C.V. will post 4.56 EPS for the current fiscal year.

Fomento Económico Mexicano Increases Dividend

The business also recently announced a semi-annual dividend, which was paid on Thursday, May 18th. Investors of record on Friday, May 5th were paid a $1.0138 dividend. This represents a dividend yield of 1.5%. The ex-dividend date of this dividend was Thursday, May 4th. This is a boost from Fomento Económico Mexicano’s previous semi-annual dividend of $0.85. Fomento Económico Mexicano’s dividend payout ratio (DPR) is presently 19.49%.

Analyst Ratings Changes

FMX has been the topic of several analyst reports. Citigroup initiated coverage on shares of Fomento Económico Mexicano in a research report on Friday, March 3rd. They set a “buy” rating on the stock. Scotiabank upgraded shares of Fomento Económico Mexicano from a “sector perform” rating to an “outperform” rating in a report on Thursday, February 16th. Barclays upped their price target on shares of Fomento Económico Mexicano from $103.00 to $105.00 in a report on Wednesday, May 3rd. HSBC upped their price target on shares of Fomento Económico Mexicano from $58.00 to $77.00 and gave the company a “reduce” rating in a report on Friday, February 17th. Finally, Morgan Stanley upped their price target on shares of Fomento Económico Mexicano from $102.00 to $110.00 and gave the company an “overweight” rating in a report on Monday, March 27th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $96.87.

Fomento Económico Mexicano Company Profile

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Fomento Economico Mexicano SAB de CV operates as a holding company, which engages in the production, distribution, and marketing of beverages. The firm also produces, markets, sells, and distributes Coca-Cola trademark beverages, including sparkling beverages. It operates through the following segments: Coca-Cola FEMSA; FEMSA-Comercio Proximity Division; FEMSA-Comercio Health Division; FEMSA-Comercio Fuel Division; Heineken Investment; and Other Business.