Quadrant Capital Group LLC Has $1.64 Million Stock Holdings in Fomento Economico Mexicano S.A.B. de C.V. $FMX

Key Points

• Quadrant Capital increased its stake in Fomento Economico Mexicano by 142.5% in Q3 to 16,589 shares valued at $1.636 million, and institutional investors now own about 61% of the company.
• FEMSA missed quarterly EPS ($0.92 vs. $1.50 consensus) while beating revenue estimates ($12.21B vs. $11.98B), reporting a 2.29% net margin and 6.11% return on equity.
• The company raised its quarterly dividend to $2.0531 (annualized $8.21), implying a 7.6% dividend yield

Quadrant Capital Group LLC lifted its stake in shares of Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX - Free Report) by 142.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,589 shares of the company's stock after acquiring an additional 9,747 shares during the quarter. Quadrant Capital Group LLC's holdings in Fomento Economico Mexicano were worth $1,636,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of FMX. Value Partners Investments Inc. increased its position in Fomento Economico Mexicano by 43.3% in the 3rd quarter. Value Partners Investments Inc. now owns 137,109 shares of the company's stock valued at $13,516,000 after buying an additional 41,400 shares in the last quarter. Strs Ohio grew its holdings in shares of Fomento Economico Mexicano by 8.5% in the third quarter. Strs Ohio now owns 319,300 shares of the company's stock valued at $31,493,000 after acquiring an additional 25,000 shares in the last quarter. LBP AM SA increased its position in shares of Fomento Economico Mexicano by 22.1% during the 3rd quarter. LBP AM SA now owns 518,532 shares of the company's stock valued at $51,143,000 after purchasing an additional 93,997 shares during the last quarter. Barings LLC increased its holdings in Fomento Economico Mexicano by 31.7% during the second quarter. Barings LLC now owns 72,617 shares of the company's stock worth $7,478,000 after buying an additional 17,488 shares during the last quarter. Finally, ABS Direct Equity Fund LLC lifted its stake in Fomento Economico Mexicano by 37.6% in the third quarter. ABS Direct Equity Fund LLC now owns 90,250 shares of the company's stock valued at $8,901,000 after purchasing an additional 24,650 shares during the last quarter. Institutional investors and hedge funds own 61.00% of the company's stock.

Fomento Economico Mexicano Stock Down 1.4%

Shares of Fomento Economico Mexicano stock opened at $107.44 on Friday. The company has a market cap of $37.13 billion, a price-to-earnings ratio of 37.70, a price-to-earnings-growth ratio of 4.23 and a beta of 0.42. Fomento Economico Mexicano S.A.B. de C.V. has a twelve month low of $83.08 and a twelve month high of $116.09. The company has a quick ratio of 1.02, a current ratio of 1.35 and a debt-to-equity ratio of 0.39. The company's 50 day moving average is $107.93 and its 200 day moving average is $99.81.

Fomento Economico Mexicano (NYSE:FMX - Get Free Report) last announced its earnings results on Wednesday, February 25th. The company reported $0.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.50 by ($0.58). The business had revenue of $12.21 billion for the quarter, compared to the consensus estimate of $11.98 billion. Fomento Economico Mexicano had a net margin of 2.29% and a return on equity of 6.11%. Research analysts anticipate 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 business also recently disclosed a quarterly dividend, which was paid on Monday, January 26th. Shareholders of record on Friday, January 16th were issued a dividend of $2.0531 per share. This is a boost from Fomento Economico Mexicano's previous quarterly dividend of $2.00. The ex-dividend date of this dividend was Friday, January 16th. This represents a $8.21 annualized dividend and a dividend yield of 7.6%. Fomento Economico Mexicano's payout ratio is currently 80.00%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on FMX shares. Weiss Ratings reissued a "hold (c-)" rating on shares of Fomento Economico Mexicano in a report on Thursday, January 22nd. The Goldman Sachs Group upped their price objective on shares of Fomento Economico Mexicano from $113.00 to $128.00 and gave the company a "buy" rating in a research note on Wednesday, February 11th. Finally, Barclays boosted their price objective on Fomento Economico Mexicano from $116.00 to $118.00 and gave the company an "equal weight" rating in a research report on Tuesday, March 3rd. Four equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $108.83.

About Fomento Economico Mexicano

Fomento Económico Mexicano, SAB. de C.V. (FEMSA) is a Mexican multinational company active primarily in the retail and beverage sectors. Headquartered in Monterrey, Mexico, FEMSA's operations span convenience store retailing, beverage bottling and distribution, and related logistics and consumer services. The company's business model combines high-frequency retail outlets with large-scale beverage production and a regional supply chain network.

FEMSA Comercio, the company's retail arm, operates a large chain of convenience stores under the OXXO brand and has expanded its retail footprint with complementary formats and services.

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