Northern Trust Corp Has $45.11 Million Stock Position in Fomento Economico Mexicano S.A.B. de C.V. $FMX

Key Points

• Northern Trust Corp increased its ownership in Fomento Economico Mexicano S.A.B. de C.V. by 4.7%, now holding 462,276 shares valued at approximately $45.11 million.
• Fomento Economico Mexicano recently announced a quarterly dividend of $1.3625, significantly up from the previous $0.73, yielding around 6.3% annually.
• The company's latest earnings report showed a disappointing $0.42 EPS, falling short of the expected $0.91 EPS, with total revenue reported at $11.27 billion.

Northern Trust Corp raised its stake in shares of Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX - Free Report) by 4.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 462,276 shares of the company's stock after purchasing an additional 20,688 shares during the quarter. Northern Trust Corp owned 0.13% of Fomento Economico Mexicano worth $45,109,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Stephens Inc. AR boosted its holdings in Fomento Economico Mexicano by 2.1% during the first quarter. Stephens Inc. AR now owns 5,937 shares of the company's stock valued at $579,000 after purchasing an additional 121 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in Fomento Economico Mexicano during the first quarter valued at approximately $29,000. Parallel Advisors LLC boosted its holdings 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 in the last quarter. Fifth Third Bancorp boosted its holdings in Fomento Economico Mexicano by 1.3% during the first quarter. Fifth Third Bancorp now owns 26,474 shares of the company's stock valued at $2,583,000 after purchasing an additional 340 shares in the last quarter. Finally, Keybank National Association OH boosted its holdings in Fomento Economico Mexicano by 1.9% during the first quarter. Keybank National Association OH now owns 18,761 shares of the company's stock valued at $1,831,000 after purchasing an additional 353 shares in the last quarter. 61.00% of the stock is owned by institutional investors and hedge funds.

Fomento Economico Mexicano Stock Performance

NYSE:FMX opened at $86.96 on Thursday. Fomento Economico Mexicano S.A.B. de C.V. has a 1 year low of $81.07 and a 1 year high of $108.74. The firm has a 50 day moving average of $95.02 and a 200-day moving average of $98.25. The company has a current ratio of 1.34, a quick ratio of 1.06 and a debt-to-equity ratio of 0.42. The stock has a market capitalization of $31.11 billion, a P/E ratio of 29.58, a price-to-earnings-growth ratio of 5.09 and a beta of 0.66.

Fomento Economico Mexicano (NYSE:FMX - Get Free Report) last posted 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). Fomento Economico Mexicano had a return on equity of 5.32% and a net margin of 2.60%.The company had revenue of $11.27 billion during the quarter, compared to the consensus estimate of $216.71 billion. As a group, sell-side analysts anticipate 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 disclosed a quarterly dividend, which was paid on Monday, July 28th. Investors of record on Thursday, July 17th were given a $1.3625 dividend. This is a boost from Fomento Economico Mexicano's previous quarterly dividend of $0.73. The ex-dividend date was Thursday, July 17th. This represents a $5.45 annualized dividend and a yield of 6.3%. Fomento Economico Mexicano's dividend payout ratio is presently 74.83%.

Wall Street Analysts Forecast Growth

FMX has been the topic of a number of recent research reports. Barclays decreased their price objective on Fomento Economico Mexicano from $110.00 to $107.00 and set an "equal weight" rating on the stock in a report on Thursday, July 31st. UBS Group lifted their target price on shares of Fomento Economico Mexicano from $112.00 to $115.00 and gave the company a "neutral" rating in a research note on Thursday, July 10th. Wall Street Zen cut shares of Fomento Economico Mexicano from a "buy" rating to a "hold" rating in a research note on Wednesday, April 30th. Finally, Morgan Stanley reiterated an "equal weight" rating and issued a $97.00 target price (down previously from $132.00) on shares of Fomento Economico Mexicano in a research note on Tuesday, August 19th. Two investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $105.16.

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.

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