Value Partners Investments Inc. Buys 41,400 Shares of Fomento Economico Mexicano S.A.B. de C.V. $FMX

Value Partners Investments Inc. raised its stake in Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) by 43.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 137,109 shares of the company’s stock after buying an additional 41,400 shares during the period. Fomento Economico Mexicano accounts for 1.1% of Value Partners Investments Inc.’s holdings, making the stock its 19th largest holding. Value Partners Investments Inc.’s holdings in Fomento Economico Mexicano were worth $13,516,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Exchange Traded Concepts LLC boosted its holdings in shares of Fomento Economico Mexicano by 79.8% during the 3rd quarter. Exchange Traded Concepts LLC now owns 143,865 shares of the company’s stock valued at $14,189,000 after acquiring an additional 63,865 shares in the last quarter. ABS Direct Equity Fund LLC raised its position in Fomento Economico Mexicano by 37.6% in the third quarter. ABS Direct Equity Fund LLC now owns 90,250 shares of the company’s stock valued at $8,901,000 after purchasing an additional 24,650 shares during the last quarter. Patriot Financial Group Insurance Agency LLC bought a new position in Fomento Economico Mexicano in the third quarter valued at about $346,000. Osaic Holdings Inc. boosted its stake in shares of Fomento Economico Mexicano by 446.4% during the second quarter. Osaic Holdings Inc. now owns 2,568 shares of the company’s stock valued at $260,000 after purchasing an additional 2,098 shares in the last quarter. Finally, Orion Porfolio Solutions LLC grew its holdings in shares of Fomento Economico Mexicano by 17.6% during the second quarter. Orion Porfolio Solutions LLC now owns 6,127 shares of the company’s stock worth $631,000 after purchasing an additional 919 shares during the last quarter. 61.00% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. UBS Group upgraded shares of Fomento Economico Mexicano from a “neutral” rating to a “buy” rating and dropped their price objective for the company from $115.00 to $111.00 in a report on Friday, September 19th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Fomento Economico Mexicano in a research note on Wednesday, October 8th. Citigroup raised shares of Fomento Economico Mexicano from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $93.00 to $97.00 in a research note on Tuesday, September 9th. Barclays decreased their price objective on Fomento Economico Mexicano from $107.00 to $105.00 and set an “equal weight” rating for the company in a report on Monday, November 3rd. Finally, JPMorgan Chase & Co. lifted their target price on Fomento Economico Mexicano from $96.00 to $102.00 and gave the stock a “neutral” rating in a report on Monday, October 20th. Four research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $101.63.

Fomento Economico Mexicano Trading Up 1.3%

FMX opened at $102.33 on Wednesday. The stock has a market cap of $36.61 billion, a PE ratio of 41.26, a price-to-earnings-growth ratio of 5.02 and a beta of 0.47. The company has a quick ratio of 0.90, a current ratio of 1.10 and a debt-to-equity ratio of 0.50. Fomento Economico Mexicano S.A.B. de C.V. has a twelve month low of $81.07 and a twelve month high of $108.74. The company has a fifty day moving average of $97.07 and a 200-day moving average of $95.69.

Fomento Economico Mexicano (NYSE:FMX) last issued its quarterly earnings results on Tuesday, October 28th. The company reported $0.88 EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $11.72 billion for the quarter, compared to the consensus estimate 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 announced a quarterly dividend, which was paid on Monday, October 27th. Investors of record on Thursday, October 16th were paid a dividend of $1.9982 per share. This is an increase from Fomento Economico Mexicano’s previous quarterly dividend of $1.36. This represents a $7.99 annualized dividend and a yield of 7.8%. The ex-dividend date of this dividend was Thursday, October 16th. Fomento Economico Mexicano’s payout ratio is 90.32%.

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.