Fomento Economico Mexicano S.A.B. de C.V. $FMX Holdings Increased by Ninety One North America Inc.

Ninety One North America Inc. grew its position in Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) by 111.0% during the 3rd quarter, Holdings Channel reports. The fund owned 226,502 shares of the company’s stock after buying an additional 119,174 shares during the quarter. Fomento Economico Mexicano comprises about 1.4% of Ninety One North America Inc.’s holdings, making the stock its 27th biggest position. Ninety One North America Inc.’s holdings in Fomento Economico Mexicano were worth $26,854,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. V Square Quantitative Management LLC purchased a new stake in Fomento Economico Mexicano in the 1st quarter valued at approximately $28,000. Pin Oak Investment Advisors Inc. acquired a new position in Fomento Economico Mexicano during the 2nd quarter worth approximately $33,000. GAMMA Investing LLC increased its position in Fomento Economico Mexicano by 79.2% during the 3rd quarter. GAMMA Investing LLC now owns 396 shares of the company’s stock worth $47,000 after purchasing an additional 175 shares during the period. Caitong International Asset Management Co. Ltd increased its position in Fomento Economico Mexicano by 92.4% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 762 shares of the company’s stock worth $77,000 after purchasing an additional 366 shares during the period. Finally, Trust Co. of Vermont purchased a new position in shares of Fomento Economico Mexicano during the 2nd quarter worth approximately $102,000. 61.00% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Barclays raised their price target 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. Bank of America raised Fomento Economico Mexicano from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $125.00 to $150.00 in a report on Tuesday, August 4th. JPMorgan Chase & Co. increased their price objective on Fomento Economico Mexicano from $117.00 to $126.00 and gave the stock an “overweight” rating in a research report on Friday, June 26th. Weiss Ratings upgraded Fomento Economico Mexicano from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, September 4th. Finally, Deutsche Bank Aktiengesellschaft set a $150.00 target price on Fomento Economico Mexicano in a report on Tuesday, August 4th. Three analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $135.67.

Fomento Economico Mexicano Price Performance

Fomento Economico Mexicano stock traded up $1.25 during mid-day trading on Thursday, reaching $121.93. The company had a trading volume of 192,566 shares, compared to its average volume of 458,921. Fomento Economico Mexicano S.A.B. de C.V. has a 1 year low of $90.87 and a 1 year high of $141.47. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.14 and a quick ratio of 0.85. The company has a market capitalization of $42.13 billion, a P/E ratio of 24.40, a P/E/G ratio of 0.65 and a beta of 0.41. The stock’s 50-day simple moving average is $119.46 and its 200-day simple moving average is $121.37.

Fomento Economico Mexicano (NYSE:FMX) last posted its quarterly earnings results on Tuesday, June 30th. The company reported $0.93 earnings per share (EPS) for the quarter. The company had revenue of $13.20 billion during the quarter. Fomento Economico Mexicano had a net margin of 3.60% and a return on equity of 7.24%. On average, equities analysts predict that Fomento Economico Mexicano S.A.B. de C.V. will post 6.35 EPS for the current year.

Fomento Economico Mexicano Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 26th. Investors of record on Wednesday, October 14th will be paid a $1.7804 dividend. This represents a $7.12 annualized dividend and a yield of 5.8%. The ex-dividend date of this dividend is Wednesday, October 14th. This is a decrease from Fomento Economico Mexicano’s previous quarterly dividend of $1.8270. Fomento Economico Mexicano’s dividend payout ratio (DPR) is 48.60%.

Insider Transactions at Fomento Economico Mexicano

In other news, Director Michael David Kahn acquired 2,100 shares of Fomento Economico Mexicano stock in a transaction that occurred on Tuesday, August 11th. The stock was purchased at an average cost of $118.13 per share, with a total value of $248,073.00. Following the completion of the acquisition, the director owned 2,100 shares in the company, valued at $248,073. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 5.68% of the company’s stock.

About Fomento Economico Mexicano

Fomento Económico Mexicano, SAB. de C.V. (FEMSA) is a Mexico-based multinational company with operations in beverage production, retail, and logistics. Through Coca-Cola FEMSA, it produces, distributes, and markets Coca-Cola products and other beverages under a portfolio that includes soft drinks, bottled water, juices, and related products.

Coca-Cola FEMSA serves customers across several Latin American markets, including Mexico, Brazil, Colombia, Guatemala, Costa Rica, Panama, Nicaragua, Argentina, and Venezuela.