Fomento Economico Mexicano S.A.B. de C.V. $FMX Shares Purchased by American Century Companies Inc.

American Century Companies Inc. raised its holdings in Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) by 18.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 304,917 shares of the company’s stock after acquiring an additional 47,421 shares during the quarter. American Century Companies Inc. owned 0.09% of Fomento Economico Mexicano worth $31,400,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the business. Nuveen LLC acquired a new position in shares of Fomento Economico Mexicano in the 1st quarter worth approximately $330,437,000. Citigroup Inc. boosted its holdings in Fomento Economico Mexicano by 309.6% during the second 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 in the last quarter. Itau Unibanco Holding S.A. grew its position 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 worth $106,139,000 after buying an additional 570,640 shares during the last quarter. Strs Ohio acquired a new position in Fomento Economico Mexicano in the first quarter worth approximately $28,718,000. Finally, Acadian Asset Management LLC increased its holdings in shares of Fomento Economico Mexicano by 325.7% in the first quarter. Acadian Asset Management LLC now owns 383,644 shares of the company’s stock valued at $37,421,000 after buying an additional 293,524 shares in the last quarter. Institutional investors own 61.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. UBS Group upgraded Fomento Economico Mexicano from a “neutral” rating to a “buy” rating and decreased their target price for the stock from $115.00 to $111.00 in a report on Friday, September 19th. Weiss Ratings reissued a “hold (c-)” rating on shares of Fomento Economico Mexicano in a research note on Wednesday, October 8th. JPMorgan Chase & Co. lifted their price target on Fomento Economico Mexicano from $96.00 to $102.00 and gave the stock a “neutral” rating in a research note on Monday, October 20th. Zacks Research raised 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 raised their target price for the stock from $93.00 to $97.00 in a report on Tuesday, September 9th. Four equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $101.63.

Fomento Economico Mexicano Stock Up 1.9%

Fomento Economico Mexicano stock opened at $95.94 on Friday. 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. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.06 and a current ratio of 1.10. The firm has a market cap of $34.33 billion, a PE ratio of 38.69, a P/E/G ratio of 5.54 and a beta of 0.70. The firm’s 50 day moving average price is $95.17 and its two-hundred day moving average price is $96.28.

Fomento Economico Mexicano (NYSE:FMX) last posted its quarterly earnings results on Tuesday, October 28th. The company reported $0.88 EPS for the quarter, missing the consensus estimate 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 $11.72 billion for the quarter, compared to analysts’ expectations of $215.60 billion. On average, research analysts predict 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 company also recently declared a quarterly dividend, which was paid on Monday, October 27th. Stockholders of record on Thursday, October 16th were paid a dividend of $1.9982 per share. This is a boost from Fomento Economico Mexicano’s previous quarterly dividend of $1.36. The ex-dividend date of this dividend was Thursday, October 16th. This represents a $7.99 dividend on an annualized basis and a dividend yield of 8.3%. Fomento Economico Mexicano’s dividend payout ratio (DPR) is 89.92%.

About Fomento Economico Mexicano

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.