Sei Investments Co. Acquires 27,439 Shares of Fomento Economico Mexicano S.A.B. de C.V. $FMX

Sei Investments Co. grew its holdings in Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) by 13.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 236,168 shares of the company’s stock after acquiring an additional 27,439 shares during the period. Sei Investments Co. owned about 0.07% of Fomento Economico Mexicano worth $26,229,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Cetera Investment Advisers lifted its holdings in Fomento Economico Mexicano by 19.8% in the 1st quarter. Cetera Investment Advisers now owns 2,935 shares of the company’s stock worth $326,000 after purchasing an additional 486 shares in the last quarter. NewEdge Wealth LLC raised its position in shares of Fomento Economico Mexicano by 2.9% during the first quarter. NewEdge Wealth LLC now owns 6,894 shares of the company’s stock valued at $766,000 after buying an additional 196 shares during the last quarter. First Trust Advisors LP bought a new stake in shares of Fomento Economico Mexicano during the first quarter valued at approximately $262,000. Madison Asset Management LLC lifted its holdings in shares of Fomento Economico Mexicano by 5.4% in the first quarter. Madison Asset Management LLC now owns 16,681 shares of the company’s stock worth $1,853,000 after buying an additional 859 shares in the last quarter. Finally, Parallel Advisors LLC boosted its position in shares of Fomento Economico Mexicano by 63.7% during the first quarter. Parallel Advisors LLC now owns 1,113 shares of the company’s stock worth $124,000 after acquiring an additional 433 shares during the last quarter. Hedge funds and other institutional investors own 61.00% of the company’s stock.

Analysts Set New Price Targets

FMX has been the subject of several research analyst reports. JPMorgan Chase & Co. raised their target price on shares of Fomento Economico Mexicano from $117.00 to $126.00 and gave the company an “overweight” rating in a research note on Friday, June 26th. Zacks Research raised shares of Fomento Economico Mexicano from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 30th. Wall Street Zen lowered Fomento Economico Mexicano from a “buy” rating to a “hold” rating in a research report on Saturday, July 18th. UBS Group boosted their target price on Fomento Economico Mexicano from $122.00 to $139.00 and gave the stock a “buy” rating in a research report on Thursday, May 28th. Finally, Barclays raised their price target on Fomento Economico Mexicano from $125.00 to $130.00 and gave the company an “equal weight” rating in a report on Tuesday, July 14th. One 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 company. According to MarketBeat.com, Fomento Economico Mexicano presently has an average rating of “Moderate Buy” and a consensus price target of $119.50.

Fomento Economico Mexicano Stock Performance

NYSE:FMX opened at $127.29 on Wednesday. The firm has a market capitalization of $43.98 billion, a PE ratio of 28.48, a PEG ratio of 0.71 and a beta of 0.41. The stock’s fifty day moving average is $126.12 and its 200 day moving average is $116.61. Fomento Economico Mexicano S.A.B. de C.V. has a fifty-two week low of $83.08 and a fifty-two week high of $141.47. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.87 and a current ratio of 1.16.

Fomento Economico Mexicano (NYSE:FMX) last posted its quarterly earnings data on Tuesday, June 30th. The company reported $0.93 earnings per share for the quarter. The business had revenue of $13.20 billion for the quarter. Fomento Economico Mexicano had a net margin of 3.40% and a return on equity of 7.33%. On average, sell-side analysts anticipate that Fomento Economico Mexicano S.A.B. de C.V. will post 6.19 earnings per share for the current year.

Fomento Economico Mexicano Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 27th. Stockholders of record on Wednesday, July 15th were paid a dividend of $1.827 per share. This is a boost from Fomento Economico Mexicano’s previous quarterly dividend of $0.67. This represents a $7.31 dividend on an annualized basis and a dividend yield of 5.7%. The ex-dividend date was Wednesday, July 15th. Fomento Economico Mexicano’s payout ratio is 54.36%.

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.