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 position in 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 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.

Other institutional investors have also modified their holdings of the company. Caitong International Asset Management Co. Ltd acquired a new position in shares of Fomento Economico Mexicano in the first quarter worth $29,000. Alpine Bank Wealth Management acquired a new position in shares of Fomento Economico Mexicano in the first quarter worth $46,000. Banque Transatlantique SA acquired a new position in shares of Fomento Economico Mexicano in the fourth quarter worth $44,000. Banque Cantonale Vaudoise acquired a new position in shares of Fomento Economico Mexicano in the first quarter worth $51,000. Finally, Brooklyn Investment Group grew its stake in shares of Fomento Economico Mexicano by 112.4% in the first quarter. Brooklyn Investment Group now owns 722 shares of the company's stock worth $70,000 after acquiring an additional 382 shares in the last quarter. Institutional investors and hedge funds own 61.00% of the company's stock.

Fomento Economico Mexicano Stock Performance

FMX traded up $0.05 on Wednesday, reaching $86.96. The company had a trading volume of 586,828 shares, compared to its average volume of 1,193,287. 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. The stock has a market capitalization of $31.11 billion, a PE ratio of 29.58, a P/E/G ratio of 5.09 and a beta of 0.66. The company has a quick ratio of 1.06, a current ratio of 1.34 and a debt-to-equity ratio of 0.42. The stock has a 50-day moving average price of $95.02 and a 200-day moving average price of $98.25.

Fomento Economico Mexicano (NYSE:FMX - Get Free Report) last announced its quarterly earnings results on Monday, July 28th. The company reported $0.42 earnings per share for the quarter, missing analysts' consensus estimates of $0.91 by ($0.49). Fomento Economico Mexicano had a net margin of 2.60% and a return on equity of 5.32%. The company had revenue of $11.27 billion during the quarter, compared to analysts' expectations of $216.71 billion. As a group, research analysts forecast 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 firm also recently announced a quarterly dividend, which was paid on Monday, July 28th. Stockholders of record on Thursday, July 17th were issued a $1.3625 dividend. The ex-dividend date of this dividend was Thursday, July 17th. This is a positive change from Fomento Economico Mexicano's previous quarterly dividend of $0.73. This represents a $5.45 dividend on an annualized basis and a dividend yield of 6.3%. Fomento Economico Mexicano's dividend payout ratio is currently 74.83%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. UBS Group lifted their price objective on shares of Fomento Economico Mexicano from $112.00 to $115.00 and gave the stock a "neutral" rating in a research report on Thursday, July 10th. Morgan Stanley reaffirmed an "equal weight" rating and set a $97.00 price objective (down from $132.00) on shares of Fomento Economico Mexicano in a research report on Tuesday, August 19th. Barclays decreased their price objective on shares of Fomento Economico Mexicano from $110.00 to $107.00 and set an "equal weight" rating for the company in a research report on Thursday, July 31st. Finally, Wall Street Zen cut shares of Fomento Economico Mexicano from a "buy" rating to a "hold" rating in a research report on Wednesday, April 30th. Two research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, Fomento Economico Mexicano has a consensus rating of "Hold" and an average price target of $105.16.

Fomento Economico Mexicano Company Profile

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.