Acadian Asset Management LLC Grows Stake in Fomento Economico Mexicano S.A.B. de C.V. $FMX

Acadian Asset Management LLC boosted its holdings in Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) by 43.6% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 550,894 shares of the company’s stock after acquiring an additional 167,250 shares during the quarter. Acadian Asset Management LLC owned 0.15% of Fomento Economico Mexicano worth $56,716,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Farther Finance Advisors LLC raised its holdings in shares of Fomento Economico Mexicano by 41.4% during the 2nd quarter. Farther Finance Advisors LLC now owns 369 shares of the company’s stock valued at $38,000 after buying an additional 108 shares in the last quarter. Stephens Inc. AR boosted its stake in Fomento Economico Mexicano by 2.1% in the first quarter. Stephens Inc. AR now owns 5,937 shares of the company’s stock worth $579,000 after buying an additional 121 shares in the last quarter. Park Avenue Securities LLC grew its position in Fomento Economico Mexicano by 4.6% during the second quarter. Park Avenue Securities LLC now owns 2,850 shares of the company’s stock valued at $293,000 after acquiring an additional 125 shares during the last quarter. UMB Bank n.a. raised its stake in shares of Fomento Economico Mexicano by 25.3% during the second quarter. UMB Bank n.a. now owns 821 shares of the company’s stock worth $85,000 after acquiring an additional 166 shares in the last quarter. Finally, Yousif Capital Management LLC lifted its holdings in shares of Fomento Economico Mexicano by 6.2% in the 2nd quarter. Yousif Capital Management LLC now owns 3,437 shares of the company’s stock worth $354,000 after acquiring an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 61.00% of the company’s stock.

Fomento Economico Mexicano Stock Up 2.7%

Shares of NYSE FMX opened at $95.84 on Monday. 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 12-month low of $81.07 and a 12-month high of $108.74. The firm’s 50-day moving average price is $93.57 and its 200-day moving average price is $97.15. The stock has a market capitalization of $34.29 billion, a price-to-earnings ratio of 38.65, a P/E/G ratio of 5.54 and a beta of 0.70.

Fomento Economico Mexicano (NYSE:FMX) last announced its quarterly earnings data 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 company had revenue of $11.71 billion for the quarter, compared to the consensus estimate of $215.60 billion. Fomento Economico Mexicano had a net margin of 2.09% and a return on equity of 5.01%. On average, equities research 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 firm also recently disclosed a quarterly dividend, which was paid on Monday, October 27th. Stockholders of record on Thursday, October 16th were issued a dividend of $1.9982 per share. The ex-dividend date was Thursday, October 16th. This represents a $7.99 annualized dividend and a dividend yield of 8.3%. This is a boost from Fomento Economico Mexicano’s previous quarterly dividend of $1.36. Fomento Economico Mexicano’s dividend payout ratio (DPR) is currently 89.92%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Barclays dropped their price objective on Fomento Economico Mexicano from $107.00 to $105.00 and set an “equal weight” rating for the company in a research note on Monday, November 3rd. JPMorgan Chase & Co. lifted their price target on Fomento Economico Mexicano from $96.00 to $102.00 and gave the company a “neutral” rating in a research report on Monday, October 20th. Morgan Stanley reiterated an “equal weight” rating and issued a $97.00 price target (down from $132.00) on shares of Fomento Economico Mexicano in a research note on Tuesday, August 19th. Zacks Research upgraded shares of Fomento Economico Mexicano from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 28th. Finally, Citigroup upgraded shares of Fomento Economico Mexicano from a “neutral” rating to a “buy” rating and upped their target price for the stock from $93.00 to $97.00 in a research note on Tuesday, September 9th. Four research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $101.63.

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.