Fomento Economico Mexicano S.A.B. de C.V. $FMX Shares Acquired by Assetmark Inc.

Assetmark Inc. lifted its position in Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) by 38.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 35,515 shares of the company’s stock after acquiring an additional 9,923 shares during the period. Assetmark Inc.’s holdings in Fomento Economico Mexicano were worth $3,944,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC acquired a new position in shares of Fomento Economico Mexicano in the first quarter valued at about $28,000. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Fomento Economico Mexicano by 2,006.2% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 337 shares of the company’s stock worth $35,000 after purchasing an additional 321 shares during the period. Tower Research Capital LLC TRC lifted its holdings in shares of Fomento Economico Mexicano by 42.5% during the second quarter. Tower Research Capital LLC TRC now owns 439 shares of the company’s stock worth $45,000 after purchasing an additional 131 shares during the period. Atlas Capital Advisors Inc. acquired a new stake in shares of Fomento Economico Mexicano during the fourth quarter worth about $50,000. Finally, Brown Brothers Harriman & Co. boosted its position in Fomento Economico Mexicano by 220.8% in the third quarter. Brown Brothers Harriman & Co. now owns 725 shares of the company’s stock valued at $72,000 after buying an additional 499 shares during the last quarter. Hedge funds and other institutional investors own 61.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on FMX. JPMorgan Chase & Co. upped their price objective on shares of Fomento Economico Mexicano from $117.00 to $126.00 and gave the company an “overweight” rating in a report on Friday, June 26th. Wall Street Zen cut shares of Fomento Economico Mexicano from a “buy” rating to a “hold” rating in a report on Saturday, July 18th. Zacks Research upgraded shares of Fomento Economico Mexicano from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 30th. Barclays upped their price target on shares of Fomento Economico Mexicano from $125.00 to $130.00 and gave the company an “equal weight” rating in a report on Tuesday, July 14th. Finally, Weiss Ratings raised Fomento Economico Mexicano from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, Fomento Economico Mexicano currently has a consensus rating of “Moderate Buy” and an average target price of $119.50.

Fomento Economico Mexicano Stock Up 0.6%

FMX stock opened at $131.07 on Thursday. Fomento Economico Mexicano S.A.B. de C.V. has a one year low of $83.08 and a one year high of $134.52. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.87 and a current ratio of 1.16. The firm’s fifty day moving average is $125.60 and its 200 day moving average is $115.85. The firm has a market cap of $45.29 billion, a PE ratio of 29.32, a P/E/G ratio of 0.70 and a beta of 0.41.

Fomento Economico Mexicano (NYSE:FMX) last issued its quarterly earnings data on Tuesday, March 31st. The company reported $2.43 earnings per share for the quarter. Fomento Economico Mexicano had a net margin of 3.40% and a return on equity of 7.33%. The business had revenue of $11.61 billion during the quarter. On average, research analysts forecast that Fomento Economico Mexicano S.A.B. de C.V. will post 6.19 EPS for the current year.

Fomento Economico Mexicano Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 27th. Shareholders of record on Wednesday, July 15th will be given a dividend of $1.827 per share. This is an increase from Fomento Economico Mexicano’s previous quarterly dividend of $0.67. This represents a $7.31 dividend on an annualized basis and a yield of 5.6%. The ex-dividend date is Wednesday, July 15th. Fomento Economico Mexicano’s dividend payout ratio (DPR) is currently 54.36%.

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.