Fomento Economico Mexicano S.A.B. de C.V. $FMX Shares Acquired by Royal Bank of Canada

Key Points

• Royal Bank of Canada increased its stake in Fomento Economico Mexicano by 1.9%, bringing its total to approximately $524 million with over 5.3 million shares owned.
• The company announced a quarterly dividend increase to $1.3625 per share, significantly up from its previous dividend of $0.73, equating to an annualized yield of 6.3%.
• Fomento Economico Mexicano reported earnings per share of $0.42, missing analysts' expectations of $0.91, with a substantial revenue of $11.27 billion for the quarter.

Royal Bank of Canada boosted its holdings in shares of Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX - Free Report) by 1.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,369,981 shares of the company's stock after buying an additional 100,898 shares during the quarter. Royal Bank of Canada owned approximately 1.50% of Fomento Economico Mexicano worth $524,003,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd purchased a new position in Fomento Economico Mexicano in the first quarter worth $29,000. Alpine Bank Wealth Management purchased a new position in Fomento Economico Mexicano in the first quarter worth $46,000. Banque Transatlantique SA purchased a new stake in shares of Fomento Economico Mexicano during the fourth quarter valued at $44,000. Banque Cantonale Vaudoise purchased a new stake in shares of Fomento Economico Mexicano during the first quarter valued at $51,000. Finally, Brooklyn Investment Group grew its holdings in shares of Fomento Economico Mexicano by 112.4% during the first quarter. Brooklyn Investment Group now owns 722 shares of the company's stock valued at $70,000 after buying an additional 382 shares during the last quarter. 61.00% of the stock is owned by hedge funds and other institutional investors.

Fomento Economico Mexicano Price Performance

Shares of Fomento Economico Mexicano stock traded down $0.21 during trading hours on Friday, reaching $85.24. The stock had a trading volume of 596,521 shares, compared to its average volume of 665,772. The stock's 50 day moving average is $93.22 and its 200 day moving average is $98.12. The firm has a market capitalization of $30.50 billion, a PE ratio of 28.99, a PEG ratio of 4.90 and a beta of 0.70. Fomento Economico Mexicano S.A.B. de C.V. has a twelve month low of $81.07 and a twelve month high of $108.74. The company has a current ratio of 1.34, a quick ratio of 1.06 and a debt-to-equity ratio of 0.42.

Fomento Economico Mexicano (NYSE:FMX - Get Free Report) last released its quarterly earnings data on Monday, July 28th. The company reported $0.42 EPS for the quarter, missing analysts' consensus estimates of $0.91 by ($0.49). Fomento Economico Mexicano had a net margin of 2.60% and a return on equity of 5.32%. The business had revenue of $11.27 billion during the quarter, compared to analyst estimates of $216.71 billion. Equities 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 company 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 6.4%. The ex-dividend date was Thursday, July 17th. This is a positive change from Fomento Economico Mexicano's previous quarterly dividend of $0.73. Fomento Economico Mexicano's dividend payout ratio (DPR) is 74.83%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on FMX. UBS Group boosted their price objective on shares of Fomento Economico Mexicano from $112.00 to $115.00 and gave the company a "neutral" rating in a report on Thursday, July 10th. Barclays lowered their price target on shares of 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. Finally, Morgan Stanley reaffirmed an "equal weight" rating and issued a $97.00 price target (down from $132.00) on shares of Fomento Economico Mexicano in a report on Tuesday, August 19th. Two research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus 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.