Farther Finance Advisors LLC Grows Position in Fomento Economico Mexicano S.A.B. de C.V. $FMX

Farther Finance Advisors LLC raised its holdings in shares of Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) by 41.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 369 shares of the company’s stock after acquiring an additional 108 shares during the quarter. Farther Finance Advisors LLC’s holdings in Fomento Economico Mexicano were worth $38,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in FMX. Nuveen LLC purchased a new position in shares of Fomento Economico Mexicano in the first quarter valued at about $330,437,000. Itau Unibanco Holding S.A. lifted its position in shares of Fomento Economico Mexicano by 105.4% in the first quarter. Itau Unibanco Holding S.A. now owns 1,112,036 shares of the company’s stock valued at $106,139,000 after acquiring an additional 570,640 shares in the last quarter. Strs Ohio purchased a new position in shares of Fomento Economico Mexicano in the first quarter valued at about $28,718,000. Acadian Asset Management LLC lifted its position in shares of Fomento Economico Mexicano by 325.7% in the first quarter. Acadian Asset Management LLC now owns 383,644 shares of the company’s stock valued at $37,421,000 after acquiring an additional 293,524 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. lifted its position in shares of Fomento Economico Mexicano by 27.3% in the first quarter. Robeco Institutional Asset Management B.V. now owns 833,238 shares of the company’s stock valued at $81,307,000 after acquiring an additional 178,460 shares in the last quarter. 61.00% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. JPMorgan Chase & Co. boosted their price objective on Fomento Economico Mexicano from $95.00 to $96.00 and gave the company a “neutral” rating in a research report on Monday, September 15th. Barclays lowered their price objective on Fomento Economico Mexicano from $110.00 to $107.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 31st. Morgan Stanley reiterated an “equal weight” rating and issued a $97.00 target price (down from $132.00) on shares of Fomento Economico Mexicano in a research report on Tuesday, August 19th. Zacks Research downgraded Fomento Economico Mexicano from a “hold” rating to a “strong sell” rating in a research report on Friday, September 5th. Finally, UBS Group upgraded Fomento Economico Mexicano from a “neutral” rating to a “buy” rating and decreased their target price for the stock from $115.00 to $111.00 in a research report on Friday, September 19th. Four research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Fomento Economico Mexicano has a consensus rating of “Hold” and an average target price of $100.97.

Fomento Economico Mexicano Trading Down 0.8%

Shares of NYSE FMX opened at $94.41 on Wednesday. The business’s 50 day moving average is $90.16 and its two-hundred day moving average is $97.98. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.34 and a quick ratio of 1.06. Fomento Economico Mexicano S.A.B. de C.V. has a 1-year low of $81.07 and a 1-year high of $108.74. The stock has a market capitalization of $33.78 billion, a P/E ratio of 32.11, a PEG ratio of 5.57 and a beta of 0.72.

Fomento Economico Mexicano (NYSE:FMX) last issued its quarterly earnings data on Monday, July 28th. The company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.91 by ($0.49). Fomento Economico Mexicano had a return on equity of 5.32% and a net margin of 2.60%.The company had revenue of $11.27 billion for the quarter, compared to the consensus estimate of $216.71 billion. As a group, research analysts expect 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 business also recently disclosed a quarterly dividend, which will be paid on Monday, October 27th. Shareholders of record on Thursday, October 16th will be paid a dividend of $1.9982 per share. The ex-dividend date of this dividend is Thursday, October 16th. This is an increase from Fomento Economico Mexicano’s previous quarterly dividend of $1.36. This represents a $7.99 annualized dividend and a yield of 8.5%. Fomento Economico Mexicano’s payout ratio is presently 74.83%.

About Fomento Economico Mexicano

Fomento Económico Mexicano, SAB. de C.V., through its subsidiaries, operates as a bottler of Coca-Cola trademark beverages. The company produces, markets, and distributes Coca-Cola trademark beverages in Mexico, Guatemala, Nicaragua, Costa Rica, Panama, Colombia, Venezuela, Brazil, Argentina, and Uruguay.