Groupama Asset Managment Buys Shares of 8,244 Fomento Economico Mexicano S.A.B. de C.V. $FMX

Key Points

• Groupama Asset Management has acquired a new stake in Fomento Economico Mexicano S.A.B. de C.V. by purchasing 8,244 shares, worth approximately $825,000, indicating growing institutional interest in the company.
• Equities research analysts have mixed views on the stock, with Barclays lowering its target price to $107.00 and UBS raising it to $115.00, while generally maintaining an "equal weight" or "hold" rating.
• Fomento Economico Mexicano recently announced an increased dividend of $1.3625 per share, reflecting a significant boost from its previous dividend, with a payout ratio of 74.83%.

Groupama Asset Managment acquired a new stake in Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 8,244 shares of the company's stock, valued at approximately $825,000.

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

Fomento Economico Mexicano Stock Performance

NYSE FMX traded up $1.8470 during trading hours on Friday, hitting $88.8470. 1,078,061 shares of the stock were exchanged, compared to its average volume of 1,279,475. The company has a market cap of $31.79 billion, a price-to-earnings ratio of 30.22, a price-to-earnings-growth ratio of 5.20 and a beta of 0.66. Fomento Economico Mexicano S.A.B. de C.V. has a 12-month low of $81.07 and a 12-month high of $109.14. The stock has a 50-day moving average of $95.97 and a 200 day moving average of $98.34. The company has a quick ratio of 1.06, a current ratio of 1.34 and a debt-to-equity ratio of 0.42.

Fomento Economico Mexicano (NYSE:FMX - Get Free Report) last posted 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). The firm had revenue of $11.27 billion for the quarter, compared to analysts' expectations 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, equities research analysts forecast 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 business also recently announced a -- dividend, which was paid on Monday, July 28th. Shareholders of record on Thursday, July 17th were issued a $1.3625 dividend. This represents a yield of 200.0%. This is a boost from Fomento Economico Mexicano's previous -- dividend of $0.73. The ex-dividend date of this dividend was Thursday, July 17th. Fomento Economico Mexicano's dividend payout ratio is 74.83%.

Analyst Upgrades and Downgrades

FMX has been the subject of several recent research reports. Barclays decreased their target price on shares of Fomento Economico Mexicano from $110.00 to $107.00 and set an "equal weight" rating for the company in a research note on Thursday, July 31st. UBS Group increased their target price on shares of Fomento Economico Mexicano from $112.00 to $115.00 and gave the stock a "neutral" rating in a research note on Thursday, July 10th. Morgan Stanley reiterated an "equal weight" rating and set a $97.00 target price (down previously from $132.00) on shares of Fomento Economico Mexicano in a research note on Tuesday. Finally, Wall Street Zen downgraded shares of Fomento Economico Mexicano from a "buy" rating to a "hold" rating in a research note on Wednesday, April 30th. Two equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat, Fomento Economico Mexicano currently has a consensus rating of "Hold" and an average price target of $105.16.

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.