American Century Companies Inc. Reduces Position in Fomento Economico Mexicano S.A.B. de C.V. $FMX

Key Points

• American Century Companies Inc. reduced its stake in Fomento Economico Mexicano (NYSE:FMX) by 39.9% in Q3, selling 121,730 shares and finishing the period with 183,187 shares worth about $18.07 million (≈0.05% ownership).
• Other institutions boosted exposure — notably, Citigroup increased its holdings by 309.6% to 1,714,895 shares (~$176.6M), and roughly 61% of FMX is owned by hedge funds and institutional investors.
• FMX missed Q earnings (EPS $0.92 vs. $1.50 est.) despite a revenue beat, and raised its quarterly dividend to $2.0531 (annualized $8.21), implying a ~7.6% yield.

American Century Companies Inc. decreased its position in Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX - Free Report) by 39.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 183,187 shares of the company's stock after selling 121,730 shares during the period. American Century Companies Inc. owned about 0.05% of Fomento Economico Mexicano worth $18,068,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Citigroup Inc. grew its holdings in Fomento Economico Mexicano by 309.6% in the 2nd quarter. Citigroup Inc. now owns 1,714,895 shares of the company's stock worth $176,600,000 after acquiring an additional 1,296,194 shares during the last quarter. ANTIPODES PARTNERS Ltd lifted its holdings in Fomento Economico Mexicano by 24.1% in the 3rd quarter. ANTIPODES PARTNERS Ltd now owns 1,144,880 shares of the company's stock worth $112,928,000 after buying an additional 222,064 shares during the period. Altrinsic Global Advisors LLC lifted its holdings in Fomento Economico Mexicano by 52.4% in the 2nd quarter. Altrinsic Global Advisors LLC now owns 944,824 shares of the company's stock worth $97,298,000 after buying an additional 324,781 shares during the period. AQR Capital Management LLC grew its position in shares of Fomento Economico Mexicano by 11,692.3% in the 2nd quarter. AQR Capital Management LLC now owns 716,029 shares of the company's stock worth $73,171,000 after buying an additional 709,957 shares during the last quarter. Finally, Bank of America Corp DE grew its position in shares of Fomento Economico Mexicano by 13.9% in the 2nd quarter. Bank of America Corp DE now owns 625,746 shares of the company's stock worth $64,439,000 after buying an additional 76,535 shares during the last quarter. 61.00% of the stock is owned by hedge funds and other institutional investors.

Fomento Economico Mexicano Stock Performance

Shares of FMX stock opened at $108.70 on Wednesday. The company's fifty day moving average price is $107.63 and its 200-day moving average price is $99.69. The stock has a market cap of $37.56 billion, a PE ratio of 38.14, a price-to-earnings-growth ratio of 4.24 and a beta of 0.42. The company has a current ratio of 1.35, a quick ratio of 1.02 and a debt-to-equity ratio of 0.39. Fomento Economico Mexicano S.A.B. de C.V. has a 12 month low of $83.08 and a 12 month high of $116.09.

Fomento Economico Mexicano (NYSE:FMX - Get Free Report) last issued its quarterly earnings results on Wednesday, February 25th. The company reported $0.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.50 by ($0.58). Fomento Economico Mexicano had a return on equity of 6.11% and a net margin of 2.29%.The business had revenue of $12.21 billion during the quarter, compared to the consensus estimate of $11.98 billion. On average, equities analysts expect that Fomento Economico Mexicano S.A.B. de C.V. will post 5.32 EPS for the current fiscal year.

Fomento Economico Mexicano Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 26th. Investors of record on Friday, January 16th were given a dividend of $2.0531 per share. This is a boost from Fomento Economico Mexicano's previous quarterly dividend of $2.00. The ex-dividend date of this dividend was Friday, January 16th. This represents a $8.21 dividend on an annualized basis and a yield of 7.6%. Fomento Economico Mexicano's dividend payout ratio is 80.00%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on FMX. Barclays upped their target price on Fomento Economico Mexicano from $116.00 to $118.00 and gave the company an "equal weight" rating in a report on Tuesday, March 3rd. Weiss Ratings reissued a "hold (c-)" rating on shares of Fomento Economico Mexicano in a research report on Thursday, January 22nd. Finally, The Goldman Sachs Group upped their price objective on shares of Fomento Economico Mexicano from $113.00 to $128.00 and gave the stock a "buy" rating in a report on Wednesday, February 11th. Four investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat.com, Fomento Economico Mexicano presently has a consensus rating of "Hold" and a consensus target price of $108.83.

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.

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