Mitsubishi UFJ Trust & Banking Corp Raises Stock Position in Fomento Economico Mexicano S.A.B. de C.V. $FMX

Mitsubishi UFJ Trust & Banking Corp lifted its stake in Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) by 164.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 31,066 shares of the company’s stock after purchasing an additional 19,320 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Fomento Economico Mexicano were worth $3,064,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. Farther Finance Advisors LLC lifted its holdings in Fomento Economico Mexicano by 41.4% in the second quarter. Farther Finance Advisors LLC now owns 369 shares of the company’s stock worth $38,000 after buying an additional 108 shares during the period. Tower Research Capital LLC TRC raised its position in shares of Fomento Economico Mexicano by 42.5% in 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 in the last quarter. Yousif Capital Management LLC lifted its stake 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 valued at $354,000 after purchasing an additional 200 shares during the period. Northwestern Mutual Wealth Management Co. boosted its position in shares of 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 purchasing an additional 321 shares in the last quarter. Finally, Sequoia Financial Advisors LLC grew its stake in Fomento Economico Mexicano by 5.7% in the second quarter. Sequoia Financial Advisors LLC now owns 6,309 shares of the company’s stock worth $650,000 after purchasing an additional 343 shares during the period. Institutional investors own 61.00% of the company’s stock.

Fomento Economico Mexicano Stock Down 1.6%

NYSE:FMX opened at $104.44 on Friday. Fomento Economico Mexicano S.A.B. de C.V. has a 1 year low of $82.50 and a 1 year high of $108.97. The stock has a 50-day moving average price of $101.86 and a two-hundred day moving average price of $95.81. The stock has a market cap of $37.98 billion, a price-to-earnings ratio of 42.11, a PEG ratio of 4.05 and a beta of 0.46. 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 (NYSE:FMX) last released its quarterly earnings data on Tuesday, October 28th. The company reported $0.88 earnings per share 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 business had revenue of $11.72 billion for the quarter, compared to the consensus estimate of $215.60 billion. As a group, equities analysts expect that Fomento Economico Mexicano S.A.B. de C.V. will post 5.32 earnings per share for the current year.

Fomento Economico Mexicano Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 26th. Stockholders of record on Friday, January 16th were given a dividend of $2.0531 per share. This is an increase from Fomento Economico Mexicano’s previous quarterly dividend of $2.00. This represents a $8.21 annualized dividend and a dividend yield of 7.9%. The ex-dividend date of this dividend was Friday, January 16th. Fomento Economico Mexicano’s payout ratio is currently 91.94%.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Zacks Research raised Fomento Economico Mexicano from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 28th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Fomento Economico Mexicano in a research note on Thursday, January 22nd. JPMorgan Chase & Co. boosted their price objective on shares of Fomento Economico Mexicano from $96.00 to $102.00 and gave the stock a “neutral” rating in a research note on Monday, October 20th. Finally, Barclays cut their price objective on shares of Fomento Economico Mexicano from $107.00 to $105.00 and set an “equal weight” rating on the stock in a report on Monday, November 3rd. Three equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $102.40.

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.