Amundi Increases Stock Position in Fomento Economico Mexicano S.A.B. de C.V. $FMX

Key Points

• Amundi increased its FMX stake by 9.8% in the first quarter, adding 54,786 shares to own 613,753 shares valued at approximately $68.2 million. Institutional investors collectively hold 61% of the company.
• Analyst sentiment remains favorable, with FMX carrying a consensus “Moderate Buy” rating and an average price target of $119.50, despite mixed individual recommendations. JPMorgan, UBS and Barclays recently raised their price targets.
• FEMSA reported quarterly revenue of $13.20 billion and earnings of $0.93 per share, while raising its quarterly dividend to $1.827 per share—an annualized yield of about 5.7%.

Amundi increased its position in shares of Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX - Free Report) by 9.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 613,753 shares of the company's stock after buying an additional 54,786 shares during the period. Amundi owned about 0.18% of Fomento Economico Mexicano worth $68,163,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC acquired a new position in shares of Fomento Economico Mexicano in the 1st quarter valued at approximately $28,000. Northwestern Mutual Wealth Management Co. raised its holdings in Fomento Economico Mexicano by 2,006.2% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 337 shares of the company's stock valued at $35,000 after acquiring an additional 321 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in Fomento Economico Mexicano by 42.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 439 shares of the company's stock valued at $45,000 after acquiring an additional 131 shares during the last quarter. Atlas Capital Advisors Inc. bought a new position in Fomento Economico Mexicano during the 4th quarter valued at $50,000. Finally, Brown Brothers Harriman & Co. grew its holdings in Fomento Economico Mexicano by 220.8% during the 3rd 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. Institutional investors and hedge funds own 61.00% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. boosted their target price on shares of Fomento Economico Mexicano from $117.00 to $126.00 and gave the stock an "overweight" rating in a research report on Friday, June 26th. Wall Street Zen cut shares of Fomento Economico Mexicano from a "buy" rating to a "hold" rating in a research report on Saturday, July 18th. Zacks Research upgraded Fomento Economico Mexicano from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 30th. UBS Group boosted their price objective on Fomento Economico Mexicano from $122.00 to $139.00 and gave the company a "buy" rating in a report on Thursday, May 28th. Finally, Barclays upped their price objective on Fomento Economico Mexicano from $125.00 to $130.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 14th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, Fomento Economico Mexicano presently has a consensus rating of "Moderate Buy" and an average price target of $119.50.

Fomento Economico Mexicano Trading Up 1.2%

Fomento Economico Mexicano stock opened at $128.29 on Friday. Fomento Economico Mexicano S.A.B. de C.V. has a 1 year low of $83.08 and a 1 year high of $141.47. The firm's 50-day moving average is $126.35 and its 200-day moving average is $116.99. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.87 and a current ratio of 1.14. The company has a market cap of $44.33 billion, a P/E ratio of 25.66, a PEG ratio of 0.69 and a beta of 0.41.

Fomento Economico Mexicano (NYSE:FMX - Get Free Report) last announced its quarterly earnings data on Tuesday, June 30th. The company reported $0.93 earnings per share for the quarter. Fomento Economico Mexicano had a net margin of 3.60% and a return on equity of 8.38%. The business had revenue of $13.20 billion during the quarter. On average, equities 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 declared a quarterly dividend, which was paid on Monday, July 27th. Stockholders of record on Wednesday, July 15th were given a dividend of $1.827 per share. 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. This is a positive change from Fomento Economico Mexicano's previous quarterly dividend of $0.67. Fomento Economico Mexicano's payout ratio is currently 48.60%.

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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