ANTIPODES PARTNERS Ltd Acquires 222,064 Shares of Fomento Economico Mexicano S.A.B. de C.V. $FMX

ANTIPODES PARTNERS Ltd increased its holdings in Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) by 24.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,144,880 shares of the company’s stock after purchasing an additional 222,064 shares during the period. Fomento Economico Mexicano accounts for 2.5% of ANTIPODES PARTNERS Ltd’s holdings, making the stock its 15th biggest holding. ANTIPODES PARTNERS Ltd owned 0.32% of Fomento Economico Mexicano worth $112,928,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of FMX. AQR Capital Management LLC grew its stake in Fomento Economico Mexicano by 19.0% during the first quarter. AQR Capital Management LLC now owns 6,072 shares of the company’s stock valued at $593,000 after acquiring an additional 969 shares in the last quarter. Yousif Capital Management LLC increased its stake in 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. Ethic Inc. raised its holdings in shares of Fomento Economico Mexicano by 7.9% during the 2nd quarter. Ethic Inc. now owns 12,676 shares of the company’s stock worth $1,293,000 after acquiring an additional 924 shares in the last quarter. Envestnet Asset Management Inc. grew its holdings in shares of Fomento Economico Mexicano by 4.4% in the second quarter. Envestnet Asset Management Inc. now owns 277,954 shares of the company’s stock valued at $28,624,000 after purchasing an additional 11,668 shares in the last quarter. Finally, Solstein Capital LLC increased its position in Fomento Economico Mexicano by 3.1% in the second quarter. Solstein Capital LLC now owns 29,252 shares of the company’s stock worth $3,012,000 after purchasing an additional 880 shares during the last quarter. Institutional investors own 61.00% of the company’s stock.

Fomento Economico Mexicano Price Performance

NYSE:FMX opened at $113.63 on Friday. The company has a current ratio of 1.10, a quick ratio of 0.90 and a debt-to-equity ratio of 0.50. Fomento Economico Mexicano S.A.B. de C.V. has a one year low of $83.08 and a one year high of $116.09. The stock has a 50-day simple moving average of $105.48 and a 200 day simple moving average of $97.48.

Fomento Economico Mexicano Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, January 26th. Investors of record on Friday, January 16th were given a dividend of $2.0531 per share. The ex-dividend date of this dividend was Friday, January 16th. This represents a $8.21 annualized dividend and a dividend yield of 7.2%. This is an increase from Fomento Economico Mexicano’s previous quarterly dividend of $2.00. Fomento Economico Mexicano’s dividend payout ratio is currently 91.94%.

Wall Street Analysts Forecast Growth

FMX has been the subject of a number of recent research reports. Barclays lifted their price objective on shares of Fomento Economico Mexicano from $105.00 to $116.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 10th. Zacks Research raised Fomento Economico Mexicano from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 28th. The Goldman Sachs Group raised their price target on Fomento Economico Mexicano from $113.00 to $128.00 and gave the stock a “buy” rating in a research report on Wednesday, February 11th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Fomento Economico Mexicano in a research report on Thursday, January 22nd. Four investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, Fomento Economico Mexicano currently has an average rating of “Hold” and an average price target of $108.50.

Fomento Economico Mexicano Profile

Fomento Económico Mexicano, SAB. de C.V. (FEMSA) is a Mexican multinational company active primarily in the retail and beverage sectors. Headquartered in Monterrey, Mexico, FEMSA’s operations span convenience store retailing, beverage bottling and distribution, and related logistics and consumer services. The company’s business model combines high-frequency retail outlets with large-scale beverage production and a regional supply chain network.

FEMSA Comercio, the company’s retail arm, operates a large chain of convenience stores under the OXXO brand and has expanded its retail footprint with complementary formats and services.