Fomento Economico Mexicano S.A.B. de C.V. $FMX Shares Purchased by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. raised its position in shares of Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) by 4.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 277,954 shares of the company’s stock after buying an additional 11,668 shares during the period. Envestnet Asset Management Inc. owned about 0.08% of Fomento Economico Mexicano worth $28,624,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Royal Bank of Canada boosted its position in shares of Fomento Economico Mexicano by 1.9% during the first quarter. Royal Bank of Canada now owns 5,369,981 shares of the company’s stock worth $524,003,000 after buying an additional 100,898 shares during the period. Nuveen LLC purchased a new position in shares of Fomento Economico Mexicano during the first quarter worth $330,437,000. Aberdeen Group plc boosted its holdings in Fomento Economico Mexicano by 10.8% in the second quarter. Aberdeen Group plc now owns 1,155,766 shares of the company’s stock valued at $119,414,000 after purchasing an additional 112,813 shares during the period. Itau Unibanco Holding S.A. boosted its holdings in 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 purchasing an additional 570,640 shares during the period. Finally, ANTIPODES PARTNERS Ltd boosted its holdings in Fomento Economico Mexicano by 12.7% in the first quarter. ANTIPODES PARTNERS Ltd now owns 919,722 shares of the company’s stock valued at $89,754,000 after purchasing an additional 103,983 shares during the period. 61.00% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. 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 report on Tuesday, August 19th. UBS Group upgraded Fomento Economico Mexicano from a “neutral” rating to a “buy” rating and decreased their target price for the company from $115.00 to $111.00 in a report on Friday, September 19th. JPMorgan Chase & Co. lifted their target price on Fomento Economico Mexicano from $96.00 to $102.00 and gave the company a “neutral” rating in a report on Monday, October 20th. Barclays decreased their price target on Fomento Economico Mexicano from $110.00 to $107.00 and set an “equal weight” rating for the company in a report on Thursday, July 31st. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Fomento Economico Mexicano in a report on Wednesday, October 8th. Four research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, Fomento Economico Mexicano presently has a consensus rating of “Hold” and an average target price of $101.97.

Fomento Economico Mexicano Price Performance

Shares of FMX opened at $94.26 on Monday. The stock’s 50 day moving average is $92.91 and its two-hundred day moving average is $97.57. The firm has a market capitalization of $33.72 billion, a PE ratio of 38.01, a P/E/G ratio of 5.54 and a beta of 0.72. The company has a current ratio of 1.10, a quick ratio of 1.06 and a debt-to-equity ratio of 0.50. Fomento Economico Mexicano S.A.B. de C.V. has a twelve month low of $81.07 and a twelve month high of $108.74.

Fomento Economico Mexicano (NYSE:FMX) last released its quarterly earnings results on Tuesday, October 28th. The company reported $0.88 earnings per share for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.18). The firm had revenue of $11.71 billion during the quarter, compared to analyst estimates of $215.60 billion. Fomento Economico Mexicano had a return on equity of 5.01% and a net margin of 2.09%. Research 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 business also recently announced a quarterly dividend, which was paid on Monday, October 27th. Investors of record on Thursday, October 16th were paid a $1.9982 dividend. This represents a $7.99 dividend on an annualized basis and a yield of 8.5%. The ex-dividend date of this dividend was Thursday, October 16th. This is an increase from Fomento Economico Mexicano’s previous quarterly dividend of $1.36. Fomento Economico Mexicano’s dividend payout ratio is currently 89.92%.

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.