Altrinsic Global Advisors LLC Has $90.04 Million Position in Fomento Economico Mexicano S.A.B. de C.V. $FMX

Altrinsic Global Advisors LLC lowered its holdings in Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) by 3.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 912,892 shares of the company’s stock after selling 31,932 shares during the period. Fomento Economico Mexicano makes up 3.3% of Altrinsic Global Advisors LLC’s portfolio, making the stock its 12th biggest position. Altrinsic Global Advisors LLC owned about 0.26% of Fomento Economico Mexicano worth $90,039,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of FMX. Northwestern Mutual Wealth Management Co. raised its position in Fomento Economico Mexicano by 2,006.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 337 shares of the company’s stock valued at $35,000 after buying an additional 321 shares during the period. Steward Partners Investment Advisory LLC acquired a new stake in Fomento Economico Mexicano during the 2nd quarter worth about $40,000. Tower Research Capital LLC TRC boosted its position in Fomento Economico Mexicano by 42.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 439 shares of the company’s stock worth $45,000 after acquiring an additional 131 shares during the period. Mather Group LLC. purchased a new position in Fomento Economico Mexicano during the 3rd quarter valued at about $54,000. Finally, Brown Brothers Harriman & Co. grew its stake in Fomento Economico Mexicano by 220.8% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 725 shares of the company’s stock valued at $72,000 after acquiring an additional 499 shares in the last quarter. Institutional investors and hedge funds own 61.00% of the company’s stock.

Fomento Economico Mexicano Stock Performance

Shares of NYSE FMX opened at $106.33 on Friday. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.35 and a quick ratio of 1.02. 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 business’s 50-day moving average price is $108.03 and its two-hundred day moving average price is $100.02. The company has a market capitalization of $36.74 billion, a P/E ratio of 37.31, a price-to-earnings-growth ratio of 4.12 and a beta of 0.42.

Fomento Economico Mexicano (NYSE:FMX) last posted its quarterly earnings results on Wednesday, February 25th. The company reported $0.92 earnings per share for the quarter, missing analysts’ consensus estimates of $1.50 by ($0.58). The firm had revenue of $12.21 billion for the quarter, compared to analysts’ expectations of $11.98 billion. Fomento Economico Mexicano had a return on equity of 6.11% and a net margin of 2.29%. Analysts anticipate 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 firm also recently disclosed 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 is a boost from Fomento Economico Mexicano’s previous quarterly dividend of $2.00. This represents a $8.21 annualized dividend and a yield of 7.7%. Fomento Economico Mexicano’s payout ratio is 80.00%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on FMX shares. Weiss Ratings reissued a “hold (c-)” rating on shares of Fomento Economico Mexicano in a research report on Thursday, January 22nd. Barclays boosted their price objective on shares of Fomento Economico Mexicano from $116.00 to $118.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 3rd. Finally, The Goldman Sachs Group upped their price objective on shares of Fomento Economico Mexicano from $113.00 to $128.00 and gave the company a “buy” rating in a research note on Wednesday, February 11th. Four equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $108.83.

About Fomento Economico Mexicano

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.