American Century Companies Inc. Purchases 7,308 Shares of 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 Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX - Free Report) by 2.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 257,496 shares of the company's stock after buying an additional 7,308 shares during the quarter. American Century Companies Inc. owned approximately 0.07% of Fomento Economico Mexicano worth $25,126,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Fomento Economico Mexicano in the first quarter worth approximately $29,000. Banque Transatlantique SA purchased a new stake in shares of Fomento Economico Mexicano in the fourth quarter worth approximately $44,000. Alpine Bank Wealth Management purchased a new stake in shares of Fomento Economico Mexicano in the first quarter worth approximately $46,000. Banque Cantonale Vaudoise purchased a new stake in shares of Fomento Economico Mexicano in the first quarter worth approximately $51,000. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Fomento Economico Mexicano in the fourth quarter worth approximately $72,000. 61.00% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

FMX has been the subject of a number of research analyst reports. UBS Group increased their price target 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. Wall Street Zen lowered shares of Fomento Economico Mexicano from a "buy" rating to a "hold" rating in a research report on Wednesday, April 30th. Morgan Stanley reissued 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 cut their price objective 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 issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $105.16.

Fomento Economico Mexicano Stock Down 0.2%

FMX traded down $0.20 during midday trading on Wednesday, hitting $86.72. 294,267 shares of the company's stock traded hands, compared to its average volume of 664,904. The company has a market cap of $31.03 billion, a PE ratio of 29.49, a price-to-earnings-growth ratio of 5.16 and a beta of 0.66. The stock's fifty day simple moving average is $95.32 and its 200-day simple moving average is $98.33. 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 S.A.B. de C.V. has a one year low of $81.07 and a one year high of $108.74.

Fomento Economico Mexicano (NYSE:FMX - Get Free Report) last issued its quarterly earnings data on Monday, July 28th. The company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.91 by ($0.49). The business 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 analysts anticipate 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 company also recently declared a -- dividend, which was paid on Monday, July 28th. Stockholders of record on Thursday, July 17th were given a $1.3625 dividend. This is a positive change from Fomento Economico Mexicano's previous -- dividend of $0.73. This represents a dividend yield of 200.0%. The ex-dividend date of this dividend was Thursday, July 17th. Fomento Economico Mexicano's 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.