Barings LLC Acquires 17,488 Shares of Fomento Economico Mexicano S.A.B. de C.V. $FMX

Barings LLC raised its holdings in Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) by 31.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 72,617 shares of the company’s stock after acquiring an additional 17,488 shares during the period. Barings LLC’s holdings in Fomento Economico Mexicano were worth $7,478,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of the business. Nuveen LLC bought a new position in shares of Fomento Economico Mexicano during the 1st quarter valued at about $330,437,000. Citigroup Inc. raised its holdings in Fomento Economico Mexicano by 309.6% during the 2nd quarter. Citigroup Inc. now owns 1,714,895 shares of the company’s stock worth $176,600,000 after buying an additional 1,296,194 shares during the period. Itau Unibanco Holding S.A. lifted its stake 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 buying an additional 570,640 shares in the last quarter. Strs Ohio acquired a new position in shares of Fomento Economico Mexicano in the first quarter valued at approximately $28,718,000. Finally, Acadian Asset Management LLC increased its position in shares of Fomento Economico Mexicano by 325.7% during the first quarter. Acadian Asset Management LLC now owns 383,644 shares of the company’s stock worth $37,421,000 after acquiring an additional 293,524 shares in the last quarter. Institutional investors and hedge funds own 61.00% of the company’s stock.

Fomento Economico Mexicano Trading Up 0.9%

Fomento Economico Mexicano stock opened at $94.87 on Friday. The company has a market cap of $33.94 billion, a price-to-earnings ratio of 38.25, a P/E/G ratio of 5.54 and a beta of 0.70. The firm has a 50-day moving average of $95.08 and a 200-day moving average of $96.54. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.10 and a quick ratio of 1.06. 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 earnings results on Tuesday, October 28th. The company reported $0.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.18). Fomento Economico Mexicano had a net margin of 2.09% and a return on equity of 5.01%. The company had revenue of $11.71 billion during the quarter, compared to analyst estimates of $215.60 billion. On average, equities analysts expect that Fomento Economico Mexicano S.A.B. de C.V. will post 5.32 earnings per share for the current fiscal year.

Fomento Economico Mexicano Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 27th. Stockholders of record on Thursday, October 16th were issued a $1.9982 dividend. This represents a $7.99 annualized dividend and a dividend yield of 8.4%. The ex-dividend date of this dividend was Thursday, October 16th. This is a boost from Fomento Economico Mexicano’s previous quarterly dividend of $1.36. Fomento Economico Mexicano’s payout ratio is currently 89.92%.

Analyst Ratings Changes

Several equities research analysts recently commented on FMX shares. Zacks Research raised shares of Fomento Economico Mexicano from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 28th. Citigroup raised Fomento Economico Mexicano from a “neutral” rating to a “buy” rating and lifted their price target for the company from $93.00 to $97.00 in a research note on Tuesday, September 9th. Morgan Stanley restated an “equal weight” rating and issued a $97.00 price target (down from $132.00) on shares of Fomento Economico Mexicano in a report on Tuesday, August 19th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Fomento Economico Mexicano in a research report on Wednesday, October 8th. Finally, Barclays dropped their target price on Fomento Economico Mexicano from $107.00 to $105.00 and set an “equal weight” rating on the stock in a research report on Monday, November 3rd. Four analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $101.63.

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.