US Bancorp DE Reduces Position in Fomento Economico Mexicano S.A.B. de C.V. $FMX

Key Points

• US Bancorp DE reduced its position in Fomento Economico Mexicano S.A.B. de C.V. by 4.1% during the second quarter, resulting in ownership of 62,365 shares worth approximately $6.42 million.
• Fomento Economico Mexicano declared an increased quarterly dividend of $1.9982 per share, up from its previous dividend of $1.36, reflecting a significant annualized yield of 8.5%.
• Analysts have issued mixed ratings for Fomento Economico Mexicano, with Zacks lowering its rating to "strong sell" while UBS upgraded it to "buy," and the average price target for the stock is currently at $100.97.

US Bancorp DE decreased its position in Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX - Free Report) by 4.1% in the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 62,365 shares of the company's stock after selling 2,696 shares during the period. US Bancorp DE's holdings in Fomento Economico Mexicano were worth $6,422,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. Royal Bank of Canada boosted its holdings in shares of Fomento Economico Mexicano by 1.9% in the first quarter. Royal Bank of Canada now owns 5,369,981 shares of the company's stock valued at $524,003,000 after purchasing an additional 100,898 shares during the period. Nuveen LLC purchased a new stake in shares of Fomento Economico Mexicano in the first quarter valued at approximately $330,437,000. Itau Unibanco Holding S.A. boosted its holdings in shares of Fomento Economico Mexicano by 105.4% in the first quarter. Itau Unibanco Holding S.A. now owns 1,112,036 shares of the company's stock valued at $106,139,000 after purchasing an additional 570,640 shares during the period. Perpetual Ltd boosted its holdings in shares of Fomento Economico Mexicano by 5.7% in the first quarter. Perpetual Ltd now owns 977,342 shares of the company's stock valued at $95,369,000 after purchasing an additional 52,673 shares during the period. Finally, ANTIPODES PARTNERS Ltd boosted its holdings in shares of Fomento Economico Mexicano by 12.7% in the first quarter. ANTIPODES PARTNERS Ltd now owns 919,722 shares of the company's stock valued at $89,754,000 after purchasing an additional 103,983 shares during the period. Hedge funds and other institutional investors own 61.00% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on FMX shares. Zacks Research lowered Fomento Economico Mexicano from a "hold" rating to a "strong sell" rating in a report on Friday, September 5th. UBS Group upgraded Fomento Economico Mexicano from a "neutral" rating to a "buy" rating and lowered their price target for the company from $115.00 to $111.00 in a report on Friday, September 19th. Weiss Ratings reiterated a "hold (c-)" rating on shares of Fomento Economico Mexicano in a report on Wednesday, October 8th. JPMorgan Chase & Co. boosted their price objective on shares of Fomento Economico Mexicano from $95.00 to $96.00 and gave the stock a "neutral" rating in a research note on Monday, September 15th. Finally, Morgan Stanley reissued an "equal weight" rating and issued a $97.00 price objective (down previously from $132.00) on shares of Fomento Economico Mexicano in a research note on Tuesday, August 19th. Four equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $100.97.

Fomento Economico Mexicano Stock Performance

Shares of NYSE:FMX opened at $93.74 on Monday. The company has a market capitalization of $33.54 billion, a price-to-earnings ratio of 31.89, a price-to-earnings-growth ratio of 5.49 and a beta of 0.72. 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. The company has a quick ratio of 1.06, a current ratio of 1.34 and a debt-to-equity ratio of 0.42. The firm has a 50 day moving average of $90.48 and a 200 day moving average of $97.93.

Fomento Economico Mexicano (NYSE:FMX - Get Free Report) last issued 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). The business had revenue of $11.27 billion during the quarter, compared to the consensus estimate of $216.71 billion. Fomento Economico Mexicano had a return on equity of 5.32% and a net margin of 2.60%. On average, sell-side analysts predict 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 declared a quarterly dividend, which will be paid on Monday, October 27th. Stockholders of record on Thursday, October 16th will be given a dividend of $1.9982 per share. The ex-dividend date of this dividend is Thursday, October 16th. This is a boost from Fomento Economico Mexicano's previous quarterly dividend of $1.36. This represents a $7.99 dividend on an annualized basis and a dividend yield of 8.5%. Fomento Economico Mexicano's payout ratio is currently 74.83%.

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.

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