Y Intercept Hong Kong Ltd Increases Position in Fomento Economico Mexicano S.A.B. de C.V. $FMX

Y Intercept Hong Kong Ltd boosted its stake in Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) by 61.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 26,963 shares of the company’s stock after purchasing an additional 10,242 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Fomento Economico Mexicano were worth $2,995,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. increased its position in Fomento Economico Mexicano by 2,006.2% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 337 shares of the company’s stock worth $35,000 after purchasing an additional 321 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in Fomento Economico Mexicano by 42.5% during the second quarter. Tower Research Capital LLC TRC now owns 439 shares of the company’s stock worth $45,000 after buying an additional 131 shares during the period. Atlas Capital Advisors Inc. purchased a new stake in Fomento Economico Mexicano during the fourth quarter worth approximately $50,000. Brown Brothers Harriman & Co. increased its position in shares of Fomento Economico Mexicano by 220.8% in the third quarter. Brown Brothers Harriman & Co. now owns 725 shares of the company’s stock worth $72,000 after acquiring an additional 499 shares in the last quarter. Finally, UMB Bank n.a. raised its stake in shares of Fomento Economico Mexicano by 15.1% in the 4th quarter. UMB Bank n.a. now owns 733 shares of the company’s stock valued at $74,000 after acquiring an additional 96 shares during the period. Institutional investors and hedge funds own 61.00% of the company’s stock.

Wall Street Analysts Forecast Growth

FMX has been the topic of several recent research reports. Weiss Ratings raised Fomento Economico Mexicano from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Barclays lifted their price objective on shares of Fomento Economico Mexicano from $118.00 to $125.00 and gave the company an “equal weight” rating in a research note on Monday, May 4th. UBS Group boosted their target price on shares of Fomento Economico Mexicano from $122.00 to $139.00 and gave the stock a “buy” rating in a research report on Thursday, May 28th. Zacks Research upgraded shares of Fomento Economico Mexicano from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 30th. Finally, Wall Street Zen downgraded shares of Fomento Economico Mexicano from a “strong-buy” rating to a “buy” rating in a research note on Monday, May 11th. One investment 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’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $118.67.

Fomento Economico Mexicano Price Performance

FMX opened at $129.46 on Wednesday. The company has a quick ratio of 0.87, a current ratio of 1.16 and a debt-to-equity ratio of 0.47. The company’s 50-day moving average price is $123.38 and its 200 day moving average price is $113.71. 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 $131.81. The firm has a market cap of $44.73 billion, a price-to-earnings ratio of 28.96, a price-to-earnings-growth ratio of 0.70 and a beta of 0.41.

Fomento Economico Mexicano (NYSE:FMX) last issued its earnings results on Tuesday, March 31st. The company reported $2.43 EPS for the quarter. The company had revenue of $11.61 billion during the quarter. Fomento Economico Mexicano had a return on equity of 7.33% and a net margin of 3.40%. As a group, sell-side analysts expect 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 business also recently disclosed a quarterly dividend, which will be paid on Monday, July 27th. Investors of record on Wednesday, July 15th will be given a dividend of $1.827 per share. The ex-dividend date is Wednesday, July 15th. This represents a $7.31 dividend on an annualized basis and a yield of 5.6%. This is an increase from Fomento Economico Mexicano’s previous quarterly dividend of $0.67. Fomento Economico Mexicano’s payout ratio is presently 53.47%.

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.