Vanguard Personalized Indexing Management LLC Boosts Stake in Fomento Economico Mexicano S.A.B. de C.V. $FMX

Vanguard Personalized Indexing Management LLC increased its position in shares of Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) by 9.2% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 7,632 shares of the company’s stock after buying an additional 646 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in Fomento Economico Mexicano were worth $786,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in FMX. Royal Bank of Canada boosted its holdings in shares of Fomento Economico Mexicano by 1.9% in the first quarter. Royal Bank of Canada now owns 5,369,981 shares of the company’s stock valued at $524,003,000 after acquiring an additional 100,898 shares during the period. Nuveen LLC purchased a new stake in Fomento Economico Mexicano in the 1st quarter valued at $330,437,000. Aberdeen Group plc boosted its stake in Fomento Economico Mexicano by 10.8% during the 2nd quarter. Aberdeen Group plc now owns 1,155,766 shares of the company’s stock worth $119,414,000 after purchasing an additional 112,813 shares during the period. Itau Unibanco Holding S.A. grew its position in Fomento Economico Mexicano by 105.4% during the 1st quarter. Itau Unibanco Holding S.A. now owns 1,112,036 shares of the company’s stock worth $106,139,000 after purchasing an additional 570,640 shares during the last quarter. Finally, Perpetual Ltd increased its stake in Fomento Economico Mexicano by 5.7% in the first quarter. Perpetual Ltd now owns 977,342 shares of the company’s stock valued at $95,369,000 after purchasing an additional 52,673 shares during the period. Institutional investors and hedge funds own 61.00% of the company’s stock.

Analyst Upgrades and Downgrades

FMX has been the subject of a number of research reports. UBS Group raised shares of Fomento Economico Mexicano from a “neutral” rating to a “buy” rating and reduced their target price for the company from $115.00 to $111.00 in a report on Friday, September 19th. Morgan Stanley reaffirmed an “equal weight” rating and set a $97.00 price objective (down from $132.00) on shares of Fomento Economico Mexicano in a research note on Tuesday, August 19th. JPMorgan Chase & Co. increased their price objective on Fomento Economico Mexicano from $96.00 to $102.00 and gave the stock a “neutral” rating in a research report on Monday. Citigroup raised Fomento Economico Mexicano from a “neutral” rating to a “buy” rating and boosted their target price for the company from $93.00 to $97.00 in a report on Tuesday, September 9th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Fomento Economico Mexicano in a research note on Wednesday, October 8th. Four investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $101.97.

Fomento Economico Mexicano Stock Down 0.3%

FMX opened at $95.84 on Tuesday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.06 and a current ratio of 1.34. The company has a market cap of $34.29 billion, a price-to-earnings ratio of 32.60, a PEG ratio of 5.63 and a beta of 0.72. The business’s fifty day moving average is $91.24 and its two-hundred day moving average is $97.71. Fomento Economico Mexicano S.A.B. de C.V. has a one year low of $81.07 and a one year high of $108.74.

Fomento Economico Mexicano (NYSE:FMX) last released its quarterly earnings results on Monday, July 28th. The company reported $0.42 EPS for the quarter, missing the consensus estimate of $0.91 by ($0.49). Fomento Economico Mexicano had a net margin of 2.60% and a return on equity of 5.32%. The business had revenue of $11.27 billion during the quarter, compared to analyst estimates of $216.71 billion. Analysts anticipate that Fomento Economico Mexicano S.A.B. de C.V. will post 5.32 EPS for the current fiscal year.

Fomento Economico Mexicano Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 27th. Stockholders 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 represents a $7.99 dividend on an annualized basis and a dividend yield of 8.3%. This is an increase from Fomento Economico Mexicano’s previous quarterly dividend of $1.36. Fomento Economico Mexicano’s dividend payout ratio is currently 76.19%.

Fomento Economico Mexicano Company Profile

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.