Eurizon Capital SGR S.p.A. Purchases New Shares in Fomento Economico Mexicano S.A.B. de C.V. $FMX

Eurizon Capital SGR S.p.A. purchased a new stake in Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) during the 4th quarter, HoldingsChannel reports. The firm purchased 6,619 shares of the company’s stock, valued at approximately $669,000.

Several other large investors have also added to or reduced their stakes in the stock. Savant Capital LLC bought a new stake in Fomento Economico Mexicano in the fourth quarter valued at $230,000. Summitry LLC boosted its holdings in Fomento Economico Mexicano by 32.9% in the fourth quarter. Summitry LLC now owns 6,398 shares of the company’s stock valued at $647,000 after acquiring an additional 1,584 shares in the last quarter. Hantz Financial Services Inc. boosted its holdings in Fomento Economico Mexicano by 93.2% in the fourth quarter. Hantz Financial Services Inc. now owns 4,572 shares of the company’s stock valued at $462,000 after acquiring an additional 2,205 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Fomento Economico Mexicano by 7.8% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,330 shares of the company’s stock valued at $134,000 after acquiring an additional 96 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its holdings in Fomento Economico Mexicano by 2.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 8,190 shares of the company’s stock valued at $828,000 after acquiring an additional 216 shares in the last quarter. Institutional investors own 61.00% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on FMX. JPMorgan Chase & Co. lifted their price target on shares of Fomento Economico Mexicano from $98.00 to $117.00 and gave the company a “neutral” rating in a report on Monday, April 20th. Wall Street Zen cut shares of Fomento Economico Mexicano from a “strong-buy” rating to a “buy” rating in a report on Monday, May 11th. Barclays lifted their price target on shares of Fomento Economico Mexicano from $118.00 to $125.00 and gave the company an “equal weight” rating in a report on Monday, May 4th. UBS Group boosted their target price on shares of Fomento Economico Mexicano from $122.00 to $139.00 and gave the company a “buy” rating in a report on Thursday, May 28th. Finally, Zacks Research upgraded shares of Fomento Economico Mexicano from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $117.17.

Fomento Economico Mexicano Stock Performance

Shares of FMX stock opened at $122.09 on Thursday. Fomento Economico Mexicano S.A.B. de C.V. has a 12 month low of $83.08 and a 12 month high of $125.71. The stock has a market cap of $42.19 billion, a PE ratio of 27.31, a price-to-earnings-growth ratio of 0.70 and a beta of 0.42. The company has a current ratio of 1.16, a quick ratio of 0.87 and a debt-to-equity ratio of 0.47. The company’s fifty day moving average price is $117.12 and its 200-day moving average price is $108.93.

Fomento Economico Mexicano (NYSE:FMX) last announced its earnings results on Tuesday, March 31st. The company reported $2.43 EPS for the quarter. Fomento Economico Mexicano had a net margin of 3.40% and a return on equity of 7.33%. The firm had revenue of $11.61 billion for the quarter. On average, equities analysts expect that Fomento Economico Mexicano S.A.B. de C.V. will post 5.77 EPS for the current fiscal year.

Fomento Economico Mexicano Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 4th. Investors of record on Wednesday, April 22nd were given a dividend of $0.6658 per share. This represents a $2.66 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend was Wednesday, April 22nd. Fomento Economico Mexicano’s dividend payout ratio is 53.47%.

Insiders Place Their Bets

In other Fomento Economico Mexicano news, Director Garza Alfonso Garza sold 52,311 shares of the firm’s stock in a transaction dated Friday, March 27th. The shares were sold at an average price of $11.19, for a total transaction of $585,360.09. Following the completion of the sale, the director directly owned 1,128,453 shares in the company, valued at approximately $12,627,389.07. This trade represents a 4.43% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last three months, insiders have sold 261,575 shares of company stock worth $2,795,188. 5.68% of the stock is currently owned by company insiders.

Fomento Economico Mexicano Company Profile

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.