Lazard Asset Management LLC Sells 26,353 Shares of Fomento Economico Mexicano S.A.B. de C.V. $FMX

Lazard Asset Management LLC lowered its stake in shares of Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) by 3.9% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 640,916 shares of the company’s stock after selling 26,353 shares during the period. Lazard Asset Management LLC owned approximately 0.19% of Fomento Economico Mexicano worth $71,180,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in FMX. V Square Quantitative Management LLC purchased a new position in shares of Fomento Economico Mexicano during the first quarter valued at approximately $28,000. Northwestern Mutual Wealth Management Co. boosted its holdings in Fomento Economico Mexicano by 2,006.2% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 337 shares of the company’s stock worth $35,000 after purchasing an additional 321 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in Fomento Economico Mexicano by 42.5% in the second quarter. Tower Research Capital LLC TRC now owns 439 shares of the company’s stock worth $45,000 after purchasing an additional 131 shares during the last quarter. Atlas Capital Advisors Inc. bought a new stake in Fomento Economico Mexicano in the 4th quarter worth approximately $50,000. Finally, Brown Brothers Harriman & Co. grew its position in Fomento Economico Mexicano by 220.8% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 725 shares of the company’s stock worth $72,000 after purchasing an additional 499 shares during the period. 61.00% of the stock is currently owned by institutional investors.

Fomento Economico Mexicano Stock Up 4.0%

FMX opened at $132.23 on Tuesday. The firm’s 50 day simple moving average is $126.01 and its two-hundred day simple moving average is $116.42. The company has a market capitalization of $45.69 billion, a PE ratio of 29.58, a PEG ratio of 0.69 and a beta of 0.41. Fomento Economico Mexicano S.A.B. de C.V. has a 1-year low of $83.08 and a 1-year high of $134.52. The company has a current ratio of 1.16, a quick ratio of 0.87 and a debt-to-equity ratio of 0.47.

Fomento Economico Mexicano (NYSE:FMX) last issued its quarterly earnings data on Tuesday, March 31st. The company reported $2.43 earnings per share (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 during the quarter. As a group, equities analysts forecast that Fomento Economico Mexicano S.A.B. de C.V. will post 6.19 EPS for the current year.

Fomento Economico Mexicano Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, July 27th. Shareholders of record on Wednesday, July 15th were issued a dividend of $1.827 per share. This is a boost from Fomento Economico Mexicano’s previous quarterly dividend of $0.67. This represents a $7.31 annualized dividend and a yield of 5.5%. The ex-dividend date of this dividend was Wednesday, July 15th. Fomento Economico Mexicano’s dividend payout ratio is presently 54.36%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on FMX. Weiss Ratings raised Fomento Economico Mexicano from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 11th. Zacks Research upgraded Fomento Economico Mexicano from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 30th. JPMorgan Chase & Co. upped their price objective on Fomento Economico Mexicano from $117.00 to $126.00 and gave the company an “overweight” rating in a research report on Friday, June 26th. Barclays increased their target price on Fomento Economico Mexicano from $125.00 to $130.00 and gave the company an “equal weight” rating in a report on Tuesday, July 14th. Finally, UBS Group raised their target price on Fomento Economico Mexicano from $122.00 to $139.00 and gave the stock a “buy” rating in a research report on Thursday, May 28th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $119.50.

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.