American Century Companies Inc. Boosts Stock Holdings in Fomento Economico Mexicano S.A.B. de C.V. $FMX

Key Points

• American Century Companies Inc. increased its stake in Fomento Economico Mexicano by 2.9%, acquiring a total of 257,496 shares worth approximately $25.1 million as of its latest SEC filing.
• Fomento Economico Mexicano recently declared a dividend of $1.3625 per share, significantly higher than its previous dividend of $0.73, representing a remarkable 200% dividend yield.
• Analysts have mixed ratings on FMX stock, with price targets ranging from $97.00 to $115.00, and an average rating of Hold based on current market assessments.

American Century Companies Inc. grew its position in shares of Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX - Free Report) by 2.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 257,496 shares of the company's stock after buying an additional 7,308 shares during the quarter. American Century Companies Inc. owned 0.07% of Fomento Economico Mexicano worth $25,126,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in FMX. Caitong International Asset Management Co. Ltd bought a new position in Fomento Economico Mexicano during the first quarter valued at approximately $29,000. Alpine Bank Wealth Management bought a new position in Fomento Economico Mexicano during the first quarter valued at approximately $46,000. Banque Transatlantique SA bought a new position in Fomento Economico Mexicano during the fourth quarter valued at approximately $44,000. Banque Cantonale Vaudoise bought a new position in Fomento Economico Mexicano during the first quarter valued at approximately $51,000. Finally, Parallel Advisors LLC lifted its position in Fomento Economico Mexicano by 56.2% during the first quarter. Parallel Advisors LLC now owns 831 shares of the company's stock valued at $81,000 after purchasing an additional 299 shares during the period. Hedge funds and other institutional investors own 61.00% of the company's stock.

Wall Street Analysts Forecast Growth

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

Fomento Economico Mexicano Price Performance

Shares of FMX stock traded up $0.49 on Thursday, hitting $87.48. 162,861 shares of the stock traded hands, compared to its average volume of 663,632. The firm has a market cap of $31.30 billion, a price-to-earnings ratio of 29.77, a PEG ratio of 5.09 and a beta of 0.66. Fomento Economico Mexicano S.A.B. de C.V. has a 52 week low of $81.07 and a 52 week high of $108.74. The firm has a 50 day simple moving average of $95.02 and a two-hundred day simple moving average of $98.25. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.34 and a quick ratio of 1.06.

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

Fomento Economico Mexicano Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, July 28th. Investors of record on Thursday, July 17th were paid a dividend of $1.3625 per share. 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 annualized dividend and a yield of 6.2%. Fomento Economico Mexicano's dividend payout ratio is 74.83%.

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.