Yousif Capital Management LLC Raises Stock Position in Fomento Economico Mexicano S.A.B. de C.V. $FMX

Yousif Capital Management LLC boosted its position in Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) by 6.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,437 shares of the company’s stock after purchasing an additional 200 shares during the quarter. Yousif Capital Management LLC’s holdings in Fomento Economico Mexicano were worth $354,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC grew its position in Fomento Economico Mexicano by 41.4% during the second quarter. Farther Finance Advisors LLC now owns 369 shares of the company’s stock worth $38,000 after buying an additional 108 shares in the last quarter. Stephens Inc. AR grew its holdings in shares of Fomento Economico Mexicano by 2.1% during the first quarter. Stephens Inc. AR now owns 5,937 shares of the company’s stock worth $579,000 after purchasing an additional 121 shares in the last quarter. Park Avenue Securities LLC increased its position in shares of Fomento Economico Mexicano by 4.6% in the second quarter. Park Avenue Securities LLC now owns 2,850 shares of the company’s stock worth $293,000 after purchasing an additional 125 shares during the last quarter. UMB Bank n.a. raised its stake in Fomento Economico Mexicano by 25.3% in the second quarter. UMB Bank n.a. now owns 821 shares of the company’s stock valued at $85,000 after purchasing an additional 166 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd bought a new stake in Fomento Economico Mexicano during the first quarter valued at approximately $29,000. Institutional investors own 61.00% of the company’s stock.

Analyst Upgrades and Downgrades

FMX has been the topic of several research reports. Morgan Stanley restated an “equal weight” rating and set a $97.00 price objective (down previously from $132.00) on shares of Fomento Economico Mexicano in a research report on Tuesday, August 19th. JPMorgan Chase & Co. increased their target price on Fomento Economico Mexicano from $96.00 to $102.00 and gave the company a “neutral” rating in a research note on Monday. Zacks Research lowered Fomento Economico Mexicano from a “hold” rating to a “strong sell” rating in a research note on Friday, September 5th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Fomento Economico Mexicano in a report on Wednesday, October 8th. Finally, Citigroup raised Fomento Economico Mexicano from a “neutral” rating to a “buy” rating and raised their price objective for the company from $93.00 to $97.00 in a report on Tuesday, September 9th. Four research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Fomento Economico Mexicano has an average rating of “Hold” and an average target price of $101.97.

Fomento Economico Mexicano Trading Up 0.7%

Shares of FMX stock opened at $96.70 on Friday. The business has a 50-day moving average of $91.83 and a 200 day moving average of $97.70. 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 $34.60 billion, a PE ratio of 32.89, a P/E/G ratio of 5.62 and a beta of 0.72.

Fomento Economico Mexicano (NYSE:FMX) last announced its quarterly earnings results on Monday, July 28th. The company reported $0.42 EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $216.71 billion. As a group, sell-side analysts anticipate 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 company also recently declared a quarterly dividend, which will be paid on Monday, October 27th. Investors of record on Thursday, October 16th will be issued a dividend of $1.9982 per share. The ex-dividend date is Thursday, October 16th. This represents a $7.99 dividend on an annualized basis and a 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 (DPR) is currently 243.88%.

Fomento Economico Mexicano 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.