Blue Trust Inc. Increases Stake in Fomento Economico Mexicano S.A.B. de C.V. $FMX

Blue Trust Inc. lifted its stake in Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) by 10.9% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,631 shares of the company’s stock after purchasing an additional 652 shares during the quarter. Blue Trust Inc.’s holdings in Fomento Economico Mexicano were worth $683,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. Farther Finance Advisors LLC raised its position in Fomento Economico Mexicano by 41.4% during the 2nd 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 last quarter. Stephens Inc. AR raised its position in Fomento Economico Mexicano by 2.1% during the 1st quarter. Stephens Inc. AR now owns 5,937 shares of the company’s stock worth $579,000 after buying an additional 121 shares during the last quarter. Park Avenue Securities LLC raised its position in Fomento Economico Mexicano by 4.6% during the 2nd quarter. Park Avenue Securities LLC now owns 2,850 shares of the company’s stock worth $293,000 after buying an additional 125 shares during the last quarter. UMB Bank n.a. raised its position in Fomento Economico Mexicano by 25.3% during the 2nd quarter. UMB Bank n.a. now owns 821 shares of the company’s stock worth $85,000 after buying an additional 166 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd purchased a new position in Fomento Economico Mexicano during the 1st quarter worth approximately $29,000. 61.00% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on FMX shares. Weiss Ratings reissued a “hold (c-)” rating on shares of Fomento Economico Mexicano in a research report on Wednesday. JPMorgan Chase & Co. raised their price target on shares of Fomento Economico Mexicano from $95.00 to $96.00 and gave the stock a “neutral” rating in a research report on Monday, September 15th. Barclays dropped their price objective on shares of Fomento Economico Mexicano from $110.00 to $107.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 31st. Zacks Research cut shares of Fomento Economico Mexicano from a “hold” rating to a “strong sell” rating in a research note on Friday, September 5th. Finally, UBS Group raised shares of Fomento Economico Mexicano from a “neutral” rating to a “buy” rating and dropped their price objective for the stock from $115.00 to $111.00 in a research note on Friday, September 19th. Four analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Fomento Economico Mexicano presently has a consensus rating of “Hold” and a consensus target price of $100.97.

Fomento Economico Mexicano Price Performance

Fomento Economico Mexicano stock opened at $93.74 on Friday. The company’s fifty day moving average price is $90.48 and its 200 day moving average price is $97.94. 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 stock has a market capitalization of $33.54 billion, a P/E ratio of 31.89, a P/E/G ratio of 5.49 and a beta of 0.72. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.06 and a current ratio of 1.34.

Fomento Economico Mexicano (NYSE:FMX) last released its quarterly earnings results on Monday, July 28th. The company reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.49). Fomento Economico Mexicano had a net margin of 2.60% and a return on equity of 5.32%. The company had revenue of $11.27 billion during the quarter, compared to analyst estimates of $216.71 billion. As a group, equities research analysts anticipate 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 business also recently declared a quarterly dividend, which will be paid on Monday, October 27th. Investors of record on Thursday, October 16th will be paid a $1.9982 dividend. The ex-dividend date of this dividend is Thursday, October 16th. This represents a $7.99 dividend on an annualized basis and a yield of 8.5%. This is an increase from Fomento Economico Mexicano’s previous quarterly dividend of $1.36. Fomento Economico Mexicano’s dividend payout ratio is 76.19%.

About Fomento Economico Mexicano

Fomento Económico Mexicano, SAB. de C.V., through its subsidiaries, operates as a bottler of Coca-Cola trademark beverages. The company produces, markets, and distributes Coca-Cola trademark beverages in Mexico, Guatemala, Nicaragua, Costa Rica, Panama, Colombia, Venezuela, Brazil, Argentina, and Uruguay.