Russell Investments Group Ltd. Has $7.07 Million Stock Holdings in Fomento Economico Mexicano S.A.B. de C.V. $FMX

Key Points

• Russell Investments Group Ltd. has increased its holdings in Fomento Economico Mexicano S.A.B. de C.V. by 62%, acquiring an additional 27,130 shares during the 1st quarter, bringing their total to 70,891 shares.
• Fomento Economico Mexicano's stock performance shows a 12-month range with a low of $81.07 and a high of $114.13, and its last earnings report revealed a miss in EPS with $0.42 compared to an estimated $0.91.
• The company recently declared a dividend of $1.3625, significantly up from the previous $0.73, marking a 200.0% dividend yield for investors.

Russell Investments Group Ltd. raised its stake in shares of Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX - Free Report) by 62.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 70,891 shares of the company's stock after acquiring an additional 27,130 shares during the quarter. Russell Investments Group Ltd.'s holdings in Fomento Economico Mexicano were worth $7,071,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Nuveen LLC bought a new position in shares of Fomento Economico Mexicano during the first quarter valued at $330,437,000. Invesco Ltd. raised its holdings in shares of Fomento Economico Mexicano by 26.4% in the first quarter. Invesco Ltd. now owns 512,706 shares of the company's stock valued at $50,030,000 after buying an additional 106,949 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Fomento Economico Mexicano by 6.3% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 103,621 shares of the company's stock valued at $10,111,000 after buying an additional 6,115 shares during the last quarter. Citigroup Inc. raised its holdings in shares of Fomento Economico Mexicano by 44.5% in the first quarter. Citigroup Inc. now owns 418,701 shares of the company's stock valued at $40,857,000 after buying an additional 128,996 shares during the last quarter. Finally, ABC Arbitrage SA bought a new position in shares of Fomento Economico Mexicano in the first quarter valued at about $1,367,000. 61.00% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Fomento Economico Mexicano Trading Up 2.1%

FMX stock traded up $1.8470 during midday trading on Friday, reaching $88.8470. The stock had a trading volume of 1,078,061 shares, compared to its average volume of 1,279,475. The business has a fifty day simple moving average of $95.97 and a two-hundred day simple moving average of $98.25. 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 firm has a market cap of $31.79 billion, a price-to-earnings ratio of 30.22, a PEG ratio of 5.09 and a beta of 0.66. Fomento Economico Mexicano S.A.B. de C.V. has a twelve month low of $81.07 and a twelve month high of $109.14.

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 analysts' consensus estimates of $0.91 by ($0.49). The firm had revenue of $11.27 billion during the quarter, compared to analyst estimates of $216.71 billion. Fomento Economico Mexicano had a return on equity of 5.32% and a net margin of 2.60%. As a group, research analysts expect 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 business also recently announced a -- dividend, which was paid on Monday, July 28th. Stockholders of record on Thursday, July 17th were given a dividend of $1.3625 per share. This represents a dividend yield of 200.0%. The ex-dividend date was Thursday, July 17th. This is an increase from Fomento Economico Mexicano's previous -- dividend of $0.73. Fomento Economico Mexicano's dividend payout ratio is presently 74.83%.

Fomento Economico Mexicano 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.