Perpetual Ltd Decreases Stake in Fomento Economico Mexicano S.A.B. de C.V. $FMX

Perpetual Ltd lessened its stake in Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) by 95.4% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 42,487 shares of the company’s stock after selling 874,377 shares during the quarter. Perpetual Ltd’s holdings in Fomento Economico Mexicano were worth $4,190,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in FMX. Royal Bank of Canada increased its holdings in Fomento Economico Mexicano by 1.9% in the first quarter. Royal Bank of Canada now owns 5,369,981 shares of the company’s stock valued at $524,003,000 after buying an additional 100,898 shares in the last quarter. Citigroup Inc. increased its stake in Fomento Economico Mexicano by 309.6% in the 2nd quarter. Citigroup Inc. now owns 1,714,895 shares of the company’s stock valued at $176,600,000 after purchasing an additional 1,296,194 shares in the last quarter. Aberdeen Group plc raised its holdings in Fomento Economico Mexicano by 10.8% during the second quarter. Aberdeen Group plc now owns 1,155,766 shares of the company’s stock worth $119,414,000 after purchasing an additional 112,813 shares during the last quarter. Itau Unibanco Holding S.A. boosted its position in Fomento Economico Mexicano by 105.4% during the first quarter. Itau Unibanco Holding S.A. now owns 1,112,036 shares of the company’s stock worth $106,139,000 after purchasing an additional 570,640 shares in the last quarter. Finally, Altrinsic Global Advisors LLC boosted its position in Fomento Economico Mexicano by 52.4% during the second quarter. Altrinsic Global Advisors LLC now owns 944,824 shares of the company’s stock worth $97,298,000 after purchasing an additional 324,781 shares in the last quarter. Hedge funds and other institutional investors own 61.00% of the company’s stock.

Fomento Economico Mexicano Stock Performance

Shares of FMX opened at $100.19 on Friday. Fomento Economico Mexicano S.A.B. de C.V. has a 1 year low of $81.07 and a 1 year high of $108.74. The company’s 50 day simple moving average is $96.69 and its 200 day simple moving average is $95.82. The company has a market capitalization of $35.85 billion, a price-to-earnings ratio of 40.40, a PEG ratio of 4.98 and a beta of 0.47. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.90 and a current ratio of 1.10.

Fomento Economico Mexicano (NYSE:FMX) last issued its quarterly earnings results 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 during the quarter, compared to analyst estimates of $215.60 billion. On average, sell-side analysts predict that Fomento Economico Mexicano S.A.B. de C.V. will post 5.32 EPS for the current year.

Fomento Economico Mexicano Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, October 27th. Shareholders of record on Thursday, October 16th were paid a $1.9982 dividend. This represents a $7.99 dividend on an annualized basis and a yield of 8.0%. The ex-dividend date of this dividend was Thursday, October 16th. This is a positive change from Fomento Economico Mexicano’s previous quarterly dividend of $1.36. Fomento Economico Mexicano’s dividend payout ratio is 90.32%.

Wall Street Analyst Weigh In

FMX has been the subject of several research reports. Barclays cut their price target on Fomento Economico Mexicano from $107.00 to $105.00 and set an “equal weight” rating for the company in a research note on Monday, November 3rd. UBS Group raised shares of Fomento Economico Mexicano from a “neutral” rating to a “buy” rating and reduced their price target for the company from $115.00 to $111.00 in a report on Friday, September 19th. Citigroup raised shares of Fomento Economico Mexicano from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $93.00 to $97.00 in a research note on Tuesday, September 9th. Zacks Research upgraded Fomento Economico Mexicano from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 28th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Fomento Economico Mexicano in a research report on Wednesday, October 8th. Four analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, Fomento Economico Mexicano has an average rating of “Hold” and a consensus price target of $101.63.

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.