Crossmark Global Holdings Inc. Sells 13,120 Shares of Fomento Economico Mexicano S.A.B. de C.V. $FMX

Key Points

• Crossmark Global Holdings sold 13,120 shares of Fomento Economico Mexicano in Q3, trimming its stake by 32.2% to 27,608 shares valued at about $2.72 million.
• A number of large institutional investors massively increased positions — including Citigroup (+309.6%), AQR (+11,692%), and Victory Capital (+12,960%) — and institutions now own roughly 61% of the stock.
• FEMSA raised its quarterly dividend to $2.0531 (annualized $8.21) for a 7.5% yield

Crossmark Global Holdings Inc. lowered its stake in Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX - Free Report) by 32.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 27,608 shares of the company's stock after selling 13,120 shares during the period. Crossmark Global Holdings Inc.'s holdings in Fomento Economico Mexicano were worth $2,723,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Citigroup Inc. grew its position in Fomento Economico Mexicano by 309.6% during 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. AQR Capital Management LLC lifted its position in Fomento Economico Mexicano by 11,692.3% in the second quarter. AQR Capital Management LLC now owns 716,029 shares of the company's stock valued at $73,171,000 after purchasing an additional 709,957 shares during the last quarter. Victory Capital Management Inc. lifted its position in Fomento Economico Mexicano by 12,960.1% in the third quarter. Victory Capital Management Inc. now owns 599,982 shares of the company's stock valued at $59,176,000 after purchasing an additional 595,388 shares during the last quarter. Altrinsic Global Advisors LLC boosted its stake in shares of Fomento Economico Mexicano by 52.4% during the second quarter. Altrinsic Global Advisors LLC now owns 944,824 shares of the company's stock valued at $97,298,000 after purchasing an additional 324,781 shares during the period. Finally, ANTIPODES PARTNERS Ltd boosted its stake in shares of Fomento Economico Mexicano by 24.1% during the third quarter. ANTIPODES PARTNERS Ltd now owns 1,144,880 shares of the company's stock valued at $112,928,000 after purchasing an additional 222,064 shares during the period. Institutional investors own 61.00% of the company's stock.

Fomento Economico Mexicano Price Performance

FMX opened at $109.55 on Friday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.02 and a current ratio of 1.35. Fomento Economico Mexicano S.A.B. de C.V. has a 52-week low of $83.08 and a 52-week high of $116.09. The stock has a market capitalization of $37.85 billion, a PE ratio of 38.44, a price-to-earnings-growth ratio of 4.25 and a beta of 0.42. The stock's 50 day moving average price is $107.34 and its 200-day moving average price is $99.30.

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

Fomento Economico Mexicano Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 26th. Shareholders of record on Friday, January 16th were issued a $2.0531 dividend. This is a boost from Fomento Economico Mexicano's previous quarterly dividend of $2.00. The ex-dividend date was Friday, January 16th. This represents a $8.21 annualized dividend and a yield of 7.5%. Fomento Economico Mexicano's dividend payout ratio (DPR) is currently 80.00%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Barclays lifted their target price on shares of Fomento Economico Mexicano from $116.00 to $118.00 and gave the stock an "equal weight" rating in a research note 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 raised their price target 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 research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $108.83.

Fomento Economico Mexicano Company Profile

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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