Fomento Economico Mexicano S.A.B. de C.V. $FMX Shares Sold by Citigroup Inc.

Citigroup Inc. reduced its holdings in Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) by 93.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 114,677 shares of the company’s stock after selling 1,600,218 shares during the period. Citigroup Inc.’s holdings in Fomento Economico Mexicano were worth $11,311,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of FMX. Northwestern Mutual Wealth Management Co. boosted its holdings in Fomento Economico Mexicano by 2,006.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 337 shares of the company’s stock worth $35,000 after buying an additional 321 shares during the last quarter. Steward Partners Investment Advisory LLC purchased a new position in shares of Fomento Economico Mexicano in the second quarter valued at approximately $40,000. Tower Research Capital LLC TRC boosted its stake in shares of Fomento Economico Mexicano by 42.5% in the second 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 last quarter. Mather Group LLC. purchased a new stake in shares of Fomento Economico Mexicano during the third quarter worth approximately $54,000. Finally, MAI Capital Management increased its position in shares of Fomento Economico Mexicano by 131.1% during the second quarter. MAI Capital Management now owns 788 shares of the company’s stock worth $81,000 after purchasing an additional 447 shares in the last quarter. 61.00% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Barclays lifted their target price 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. The Goldman Sachs Group raised their price target on shares of Fomento Economico Mexicano from $113.00 to $128.00 and gave the stock a “buy” rating in a research note on Wednesday, February 11th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Fomento Economico Mexicano in a research note on Thursday, January 22nd. Four 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 MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $108.50.

Fomento Economico Mexicano Trading Down 0.7%

Shares of FMX opened at $112.39 on Friday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.10 and a quick ratio of 0.90. Fomento Economico Mexicano S.A.B. de C.V. has a 12-month low of $83.08 and a 12-month high of $116.09. The firm has a 50-day moving average price of $106.55 and a 200 day moving average price of $98.41.

Fomento Economico Mexicano (NYSE:FMX) last issued its earnings results on Wednesday, February 25th. The company reported $0.92 EPS for the quarter, missing analysts’ consensus estimates of $1.50 by ($0.58). Fomento Economico Mexicano had a return on equity of 6.37% and a net margin of 2.29%.The firm had revenue of $12.21 billion for the quarter, compared to analysts’ expectations of $11.98 billion. On average, sell-side 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 firm also recently disclosed a quarterly dividend, which was paid on Monday, January 26th. Investors of record on Friday, January 16th were issued a $2.0531 dividend. This is a boost from Fomento Economico Mexicano’s previous quarterly dividend of $2.00. This represents a $8.21 dividend on an annualized basis and a yield of 7.3%. The ex-dividend date was Friday, January 16th. Fomento Economico Mexicano’s payout ratio is currently 80.00%.

Fomento Economico Mexicano Company 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.