Fomento Economico Mexicano S.A.B. de C.V. $FMX Stock Holdings Reduced by Lbp Am Sa

Key Points

• Lbp Am Sa has reduced its holdings in Fomento Economico Mexicano by 29.8% during Q2, owning approximately 0.12% of the company with shares valued at $43.72 million after selling 179,882 shares.
• Fomento Economico Mexicano recently increased its quarterly dividend to $1.3625 per share, marking a significant rise from the previous $0.73, resulting in a 5.5% yield.
• The company's stock has a market cap of $35.33 billion and posted $0.42 EPS for the last quarter, missing estimates significantly, while analysts maintain a consensus rating of "Hold."

Lbp Am Sa lowered its position in Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX - Free Report) by 29.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 424,535 shares of the company's stock after selling 179,882 shares during the quarter. Lbp Am Sa owned approximately 0.12% of Fomento Economico Mexicano worth $43,719,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in FMX. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Fomento Economico Mexicano in the first quarter worth about $29,000. Farther Finance Advisors LLC lifted its position in shares of Fomento Economico Mexicano by 41.4% in the second quarter. Farther Finance Advisors LLC now owns 369 shares of the company's stock worth $38,000 after buying an additional 108 shares during the last quarter. Alpine Bank Wealth Management acquired a new stake in shares of Fomento Economico Mexicano in the first quarter worth about $46,000. Banque Cantonale Vaudoise acquired a new stake in shares of Fomento Economico Mexicano in the first quarter worth about $51,000. Finally, Brooklyn Investment Group lifted its position in shares of Fomento Economico Mexicano by 112.4% in the first quarter. Brooklyn Investment Group now owns 722 shares of the company's stock worth $70,000 after buying an additional 382 shares during the last quarter. Institutional investors and hedge funds own 61.00% of the company's stock.

Fomento Economico Mexicano Trading Down 0.6%

Fomento Economico Mexicano stock opened at $98.74 on Wednesday. The business has a 50 day moving average price of $90.18 and a two-hundred day moving average price of $98.11. 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 stock has a market cap of $35.33 billion, a price-to-earnings ratio of 33.59, a price-to-earnings-growth ratio of 5.82 and a beta of 0.70. Fomento Economico Mexicano S.A.B. de C.V. has a 12 month low of $81.07 and a 12 month high of $108.74.

Fomento Economico Mexicano (NYSE:FMX - Get Free Report) last posted its quarterly earnings results 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 during the quarter, compared to analyst estimates 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 forecast 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 company also recently declared a quarterly dividend, which was paid on Monday, July 28th. Shareholders of record on Thursday, July 17th were issued a $1.3625 dividend. This is a positive change from Fomento Economico Mexicano's previous quarterly dividend of $0.73. The ex-dividend date of this dividend was Thursday, July 17th. This represents a $5.45 annualized dividend and a yield of 5.5%. Fomento Economico Mexicano's payout ratio is currently 74.83%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on FMX shares. UBS Group raised Fomento Economico Mexicano from a "neutral" rating to a "buy" rating and reduced their price target for the stock from $115.00 to $111.00 in a research report on Friday, September 19th. JPMorgan Chase & Co. boosted their price target on Fomento Economico Mexicano from $95.00 to $96.00 and gave the stock a "neutral" rating in a research report on Monday, September 15th. Barclays reduced their price target on Fomento Economico Mexicano from $110.00 to $107.00 and set an "equal weight" rating for the company in a research report on Thursday, July 31st. Citigroup upgraded Fomento Economico Mexicano from a "neutral" rating to a "buy" rating and increased their target price for the company from $93.00 to $97.00 in a research note on Tuesday, September 9th. Finally, Zacks Research downgraded Fomento Economico Mexicano from a "hold" rating to a "strong sell" rating in a research note on Friday, September 5th. Four equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $100.97.

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.

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