Invesco Ltd. Purchases 106,949 Shares of Fomento Economico Mexicano S.A.B. de C.V. $FMX

Key Points

• Invesco Ltd. has increased its holdings in Fomento Economico Mexicano by 26.4%, acquiring an additional 106,949 shares during the first quarter, bringing their total to approximately 0.14% ownership valued at $50 million.
• Fomento Economico Mexicano declared a dividend of $1.3625 per share, a significant increase from the previous dividend of $0.73, resulting in a notable dividend yield of 200.0%.
• Wall Street analysts have mixed forecasts for the company's stock, with Barclays lowering its price target while UBS raised it, leading to an average consensus price target of $107.20 and a general rating of "Hold".

Invesco Ltd. boosted its stake in shares of Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX - Free Report) by 26.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 512,706 shares of the company's stock after purchasing an additional 106,949 shares during the quarter. Invesco Ltd. owned 0.14% of Fomento Economico Mexicano worth $50,030,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Janney Montgomery Scott LLC acquired a new position in Fomento Economico Mexicano during the 1st quarter valued at $207,000. Crossmark Global Holdings Inc. raised its stake in Fomento Economico Mexicano by 29.3% during the 1st quarter. Crossmark Global Holdings Inc. now owns 26,359 shares of the company's stock valued at $2,572,000 after purchasing an additional 5,977 shares during the last quarter. Cerity Partners LLC raised its stake in Fomento Economico Mexicano by 25.4% during the 1st quarter. Cerity Partners LLC now owns 13,778 shares of the company's stock valued at $1,344,000 after purchasing an additional 2,795 shares during the last quarter. Wells Fargo & Company MN raised its stake in Fomento Economico Mexicano by 17.0% during the 4th quarter. Wells Fargo & Company MN now owns 28,135 shares of the company's stock valued at $2,405,000 after purchasing an additional 4,096 shares during the last quarter. Finally, GAMMA Investing LLC raised its stake in Fomento Economico Mexicano by 27,873.3% during the 1st quarter. GAMMA Investing LLC now owns 20,980 shares of the company's stock valued at $2,047,000 after purchasing an additional 20,905 shares during the last quarter. 61.00% of the stock is currently owned by institutional investors and hedge funds.

Fomento Economico Mexicano Stock Performance

Fomento Economico Mexicano stock traded up $1.3670 on Friday, hitting $88.3670. The company's stock had a trading volume of 408,620 shares, compared to its average volume of 664,221. The firm has a market cap of $31.62 billion, a P/E ratio of 30.02, a price-to-earnings-growth ratio of 5.05 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 company has a fifty day moving average price of $96.31 and a 200-day moving average price of $98.23. Fomento Economico Mexicano S.A.B. de C.V. has a one year low of $81.07 and a one year high of $109.14.

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 (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $11.27 billion during the quarter, compared to the consensus estimate of $216.71 billion. 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 -- dividend, which was paid on Monday, July 28th. Stockholders of record on Thursday, July 17th were issued a $1.3625 dividend. This represents a dividend yield of 200.0%. The ex-dividend date of this dividend was Thursday, July 17th. This is a positive change from Fomento Economico Mexicano's previous -- dividend of $0.73. Fomento Economico Mexicano's payout ratio is currently 74.83%.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Morgan Stanley reiterated an "equal weight" rating and set a $97.00 target price (down from $132.00) on shares of Fomento Economico Mexicano in a research note on Tuesday. Wall Street Zen lowered shares of Fomento Economico Mexicano from a "buy" rating to a "hold" rating in a report on Wednesday, April 30th. UBS Group boosted their price target on shares of Fomento Economico Mexicano from $112.00 to $115.00 and gave the company a "neutral" rating in a report on Thursday, July 10th. Finally, Barclays lowered their price target on shares of Fomento Economico Mexicano from $110.00 to $107.00 and set an "equal weight" rating on the stock in a report on Thursday, July 31st. Two equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price 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.