Capital Fund Management S.A. Takes $2.94 Million Position in Fomento Economico Mexicano S.A.B. de C.V. $FMX

Key Points

• Capital Fund Management S.A. has made a new investment of approximately $2.94 million in Fomento Economico Mexicano, purchasing 30,171 shares during the first quarter.
• Fomento Economico Mexicano recently announced a dividend increase, raising its payout to $1.3625 per share, which represents a yield of 200.0%.
• Analysts have mixed ratings for FMX, with UBS Group raising its price target from $112.00 to $115.00, while Morgan Stanley and Barclays have lowered theirs.

Capital Fund Management S.A. purchased a new stake in shares of Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 30,171 shares of the company's stock, valued at approximately $2,944,000.

Several other institutional investors have also modified their holdings of FMX. Caitong International Asset Management Co. Ltd acquired a new position in Fomento Economico Mexicano during the 1st quarter worth $29,000. Banque Transatlantique SA bought a new stake in shares of Fomento Economico Mexicano during the fourth quarter valued at about $44,000. Alpine Bank Wealth Management bought a new stake in shares of Fomento Economico Mexicano during the first quarter valued at about $46,000. Banque Cantonale Vaudoise acquired a new stake in Fomento Economico Mexicano in the first quarter worth about $51,000. Finally, Brooklyn Investment Group grew its position in Fomento Economico Mexicano by 112.4% in 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 in the last quarter. Institutional investors own 61.00% of the company's stock.

Fomento Economico Mexicano Price Performance

Shares of NYSE FMX traded down $1.16 during mid-day trading on Friday, reaching $86.52. The company had a trading volume of 826,921 shares, compared to its average volume of 1,126,521. The company has a 50-day moving average price of $94.46 and a two-hundred day moving average price of $98.31. The stock has a market cap of $30.96 billion, a PE ratio of 29.43, a P/E/G ratio of 5.07 and a beta of 0.66. The company has a current ratio of 1.34, a quick ratio of 1.06 and a debt-to-equity ratio of 0.42. Fomento Economico Mexicano S.A.B. de C.V. has a 1-year low of $81.07 and a 1-year high of $108.74.

Fomento Economico Mexicano (NYSE:FMX - Get Free Report) last released its quarterly earnings results on Monday, July 28th. The company reported $0.42 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.91 by ($0.49). The firm had revenue of $11.27 billion for the quarter, compared to analyst estimates of $216.71 billion. Fomento Economico Mexicano had a net margin of 2.60% and a return on equity of 5.32%. On average, equities analysts anticipate that Fomento Economico Mexicano S.A.B. de C.V. will post 5.32 earnings per share for the current year.

Fomento Economico Mexicano Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 28th. Shareholders of record on Thursday, July 17th were given a $1.3625 dividend. This represents a $5.45 annualized dividend and a yield of 6.3%. The ex-dividend date of this dividend was Thursday, July 17th. This is an increase from Fomento Economico Mexicano's previous quarterly dividend of $0.73. Fomento Economico Mexicano's payout ratio is currently 74.83%.

Analyst Upgrades and Downgrades

FMX has been the subject of a number of research analyst reports. Barclays reduced their price target on shares of Fomento Economico Mexicano from $110.00 to $107.00 and set an "equal weight" rating for the company in a research note on Thursday, July 31st. UBS Group upped their target price on Fomento Economico Mexicano from $112.00 to $115.00 and gave the stock a "neutral" rating in a research report on Thursday, July 10th. Finally, Morgan Stanley reaffirmed an "equal weight" rating and set a $97.00 price target (down from $132.00) on shares of Fomento Economico Mexicano in a research note on Tuesday, August 19th. Two investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $105.16.

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.