Robeco Institutional Asset Management B.V. Buys 15,045 Shares of Fomento Economico Mexicano S.A.B. de C.V. $FMX

Key Points

• Robeco Institutional Asset Management B.V. increased its stake in Fomento Economico Mexicano S.A.B. de C.V. by 1.8%, acquiring an additional 15,045 shares, bringing its total holdings to 848,283 shares worth approximately $87.4 million.
• Fomento Economico Mexicano's quarterly dividend was increased to $1.3625 per share, representing a 5.7% yield and an increase from the previous dividend of $0.73.
• Analysts' sentiment on the stock is mixed, with four analysts rating it a Buy, three rating it a Hold, and one issuing a Sell rating, indicating a consensus rating of Hold with a target price of $100.97.

Robeco Institutional Asset Management B.V. boosted its stake in shares of Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX - Free Report) by 1.8% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 848,283 shares of the company's stock after acquiring an additional 15,045 shares during the quarter. Robeco Institutional Asset Management B.V. owned approximately 0.24% of Fomento Economico Mexicano worth $87,356,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Deltec Asset Management LLC grew its holdings in Fomento Economico Mexicano by 42.9% during the 2nd quarter. Deltec Asset Management LLC now owns 5,000 shares of the company's stock worth $515,000 after acquiring an additional 1,500 shares during the last quarter. One Wealth Advisors LLC grew its holdings in Fomento Economico Mexicano by 7.0% during the 2nd quarter. One Wealth Advisors LLC now owns 6,824 shares of the company's stock worth $703,000 after acquiring an additional 447 shares during the last quarter. Klein Pavlis & Peasley Financial Inc. grew its holdings in Fomento Economico Mexicano by 6.3% during the 2nd quarter. Klein Pavlis & Peasley Financial Inc. now owns 40,433 shares of the company's stock worth $4,164,000 after acquiring an additional 2,389 shares during the last quarter. ABS Direct Equity Fund LLC grew its holdings in Fomento Economico Mexicano by 2.7% during the 2nd quarter. ABS Direct Equity Fund LLC now owns 65,600 shares of the company's stock worth $6,755,000 after acquiring an additional 1,700 shares during the last quarter. Finally, Northside Capital Management LLC bought a new position in shares of Fomento Economico Mexicano in the 2nd quarter valued at about $530,000. Institutional investors own 61.00% of the company's stock.

Fomento Economico Mexicano Stock Performance

Shares of FMX stock opened at $96.34 on Friday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.06 and a current ratio of 1.34. The company has a market capitalization of $34.47 billion, a P/E ratio of 32.77, a price-to-earnings-growth ratio of 5.60 and a beta of 0.71. The company's 50 day moving average price is $90.11 and its two-hundred day moving average price is $98.06. Fomento Economico Mexicano S.A.B. de C.V. has a 52 week low of $81.07 and a 52 week high of $108.74.

Fomento Economico Mexicano (NYSE:FMX - Get Free Report) last announced its 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 company had revenue of $11.27 billion for 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%. On average, analysts expect that Fomento Economico Mexicano S.A.B. de C.V. will post 5.32 earnings per share for the current fiscal year.

Fomento Economico Mexicano Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 28th. Stockholders of record on Thursday, July 17th were issued a $1.3625 dividend. This represents a $5.45 dividend on an annualized basis and a dividend yield of 5.7%. This is a boost from Fomento Economico Mexicano's previous quarterly dividend of $0.73. The ex-dividend date was Thursday, July 17th. Fomento Economico Mexicano's dividend payout ratio is 74.83%.

Wall Street Analysts Forecast Growth

FMX has been the topic of several recent research reports. Citigroup raised shares of Fomento Economico Mexicano from a "neutral" rating to a "buy" rating and raised their target price for the company from $93.00 to $97.00 in a research note on Tuesday, September 9th. JPMorgan Chase & Co. raised their target price on shares of Fomento Economico Mexicano from $95.00 to $96.00 and gave the company a "neutral" rating in a research note on Monday, September 15th. Barclays reduced their target price on shares of Fomento Economico Mexicano from $110.00 to $107.00 and set an "equal weight" rating on the stock in a research note on Thursday, July 31st. Zacks Research lowered shares of Fomento Economico Mexicano from a "hold" rating to a "strong sell" rating in a research note on Friday, September 5th. Finally, UBS Group raised shares of Fomento Economico Mexicano from a "neutral" rating to a "buy" rating and reduced their target price for the company from $115.00 to $111.00 in a research note on Friday, September 19th. 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 company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $100.97.

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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