Fomento Economico Mexicano S.A.B. de C.V. $FMX Shares Bought by Whittier Trust Co.

Whittier Trust Co. grew its position in shares of Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) by 35.0% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 14,950 shares of the company’s stock after acquiring an additional 3,878 shares during the period. Whittier Trust Co.’s holdings in Fomento Economico Mexicano were worth $1,540,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd acquired a new stake in Fomento Economico Mexicano during the first quarter worth about $29,000. Farther Finance Advisors LLC raised its holdings in shares of Fomento Economico Mexicano by 41.4% during the 2nd quarter. Farther Finance Advisors LLC now owns 369 shares of the company’s stock valued at $38,000 after buying an additional 108 shares during the period. Alpine Bank Wealth Management purchased a new stake in shares of Fomento Economico Mexicano during the 1st quarter valued at about $46,000. Banque Cantonale Vaudoise purchased a new stake in shares of Fomento Economico Mexicano during the 1st quarter valued at about $51,000. Finally, Brooklyn Investment Group raised its holdings in shares of Fomento Economico Mexicano by 112.4% during the 1st quarter. Brooklyn Investment Group now owns 722 shares of the company’s stock valued at $70,000 after buying an additional 382 shares during the period. 61.00% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Weiss Ratings reiterated a “hold (c-)” rating on shares of Fomento Economico Mexicano in a report on Wednesday, October 8th. UBS Group upgraded Fomento Economico Mexicano from a “neutral” rating to a “buy” rating and dropped their target price for the company from $115.00 to $111.00 in a report on Friday, September 19th. Morgan Stanley reiterated an “equal weight” rating and set a $97.00 target price (down from $132.00) on shares of Fomento Economico Mexicano in a report on Tuesday, August 19th. Zacks Research downgraded Fomento Economico Mexicano from a “hold” rating to a “strong sell” rating in a report on Friday, September 5th. Finally, JPMorgan Chase & Co. raised their price objective on Fomento Economico Mexicano from $96.00 to $102.00 and gave the company a “neutral” rating in a research note on Monday. Four equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Fomento Economico Mexicano currently has an average rating of “Hold” and a consensus price target of $101.97.

Fomento Economico Mexicano Stock Performance

Shares of FMX opened at $96.03 on Thursday. The business’s fifty day moving average price is $91.58 and its 200 day moving average price is $97.67. Fomento Economico Mexicano S.A.B. de C.V. has a 12-month low of $81.07 and a 12-month high of $108.74. The stock has a market capitalization of $34.36 billion, a PE ratio of 32.66, a price-to-earnings-growth ratio of 5.45 and a beta of 0.72. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.34 and a quick ratio of 1.06.

Fomento Economico Mexicano (NYSE:FMX) last announced its quarterly earnings data on Monday, July 28th. The company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.91 by ($0.49). Fomento Economico Mexicano had a return on equity of 5.32% and a net margin of 2.60%.The firm had revenue of $11.27 billion for the quarter, compared to the consensus estimate of $216.71 billion. Equities research analysts forecast 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 business also recently declared a quarterly dividend, which will be paid on Monday, October 27th. Investors of record on Thursday, October 16th will be issued a $1.9982 dividend. This is a positive change from Fomento Economico Mexicano’s previous quarterly dividend of $1.36. The ex-dividend date of this dividend is Thursday, October 16th. This represents a $7.99 annualized dividend and a dividend yield of 8.3%. Fomento Economico Mexicano’s dividend payout ratio (DPR) 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.